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An announcement from Austin Metals Limited ( (AU:AYT) ) is now available.
Austin Metals has raised $3 million through a share placement to accelerate exploration at its Austin Gold Project, where a Vadrians-style BIF-hosted gold model is emerging at the Brunswick Hill prospect. Recent reconnaissance fieldwork has identified new, potentially gold-bearing vein styles and structural settings analogous to Caprice Resources’ high-grade Vadrians deposit, with more than 2km of BIF corridor at Brunswick Hill still largely untested and systematic drilling planned in the near term. The company has strengthened its leadership with the appointment of Managing Director Michael Moore, engaged key technical consultant Gary Harvey who was involved in the Vadrians discovery, and completed the sale of its Broken Hill tenement package, collectively positioning Austin to focus capital and expertise on unlocking value from its underexplored Murchison gold assets.
The most recent analyst rating on (AU:AYT) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Austin Metals Limited stock, see the AU:AYT Stock Forecast page.
More about Austin Metals Limited
Austin Metals Limited is an ASX-listed mineral exploration company focused on gold exploration in Western Australia’s Murchison Goldfields, particularly at the Austin Gold Project and the Brunswick Hill prospect. The company’s landholding spans more than 30km of strike across two major greenstone belts that are prospective for high-grade, banded iron formation (BIF)-hosted lode gold deposits within the Norie Group stratigraphy.
Technical Sentiment Signal: Sell
Current Market Cap: A$8.91M
For a thorough assessment of AYT stock, go to TipRanks’ Stock Analysis page.