Terrain Minerals Limited (ASX:TMX)
As previously advised to the market, Terrain through the rights issue and the placement, approved by shareholders at the EGM on 25 May 2009, has successfully raised A$1.36m and has secured a further A$5 million funding facility with Fortrend Securities Pty Ltd.
The funds will be utilised to progress mining studies currently in progress and for working capital.
Further information regarding Terrain's projects and exploration programs can be found on the Company's website,
About Terrain Minerals Limited
Terrain Minerals Limited is engaged in the exploration of gold and other mineral resources. It holds four projects: Bundarra, East Kambalda, Redcastle and Euro. Bundarra is located 70 kilometers north of Leonora. A combined RC and Diamond Drilling program totaling more than 16,000 meters was completed in April 2008. The Bundarra (Celtic) Project, which is 100% owned by Terrain, includes the Black Cat joint venture, and the Great Western prospect. The project area covers 100 square kilometers and encompasses all the major gold prospects in the Bundarra area. The Redcastle Project covers an area of gold workings, with a recorded historical production of 3,000 tons. The Euro project lies immediately to the West of the Euro Mining Centre. The East Kambalda project lies 10 kilometer northeast of Kambalda. The project area covers three north-westerly trending belts of volcanics separated by sediments. Arocom Pty Ltd is the Company’s wholly owned subsidiary.
Terrain Minerals Limited