Trigg Minerals Surges 11% After Finalizing Agreement for Heritage Survey, Raising AU$800,000

MT Newswires Live07-29

Trigg Minerals (ASX:TMG) is finalizing an agreement with the traditional owners of lands covered by tenements EPM 18090 and EPM 26154 to complete a heritage survey after identifying "promising" drill targets.

The heritage survey is a necessary requirement prior to starting on-ground preparations for the drilling program, according to a Monday filing with the Australian bourse. The company plans to start initial exploration drilling at the Drummond Basin project in Queensland in the second half.

The company also raised AU$800,000 via the placement of 100 million ordinary shares at AU$0.008 apiece. Funds will go toward extending exploration activities at the Drummond Basin project and for general working capital.

Trigg Minerals shares surged 11% in recent trade.

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