Xenith would like to congratulate Mitre Mining Corporation Limited (ASX:MMC) on their admission to the ASX. MMC raised $5,000,000 pursuant to the offer under its prospectus dated 13 August 2021 by issue of 25,000,000 shares at an issue price of $0.20 per share.
MMC will now commence greenfields exploration on EL9146, which is a large, under-explored tenement, adjacent to the historic Moruya Gold Field, near the south coast of New South Wales. MMC are primarily targeting intrusion related gold (IRGS) or structurally controlled, orogenic gold deposits. A secondary target includes Lithium and REE associated with pegmatite dykes.
Xenith have been contracted by MMC to be their field operations team for the green-fields exploration program commencing on EL9146 next month. Xenith will also provide independent geological advice to the MMC geological team as results become available from the field program.