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News: King River Copper looks to top-up funds for East Kimberley exploration

  1. King River Copper (ASX:KRC) will look to raise up to $1,771,900 from a 1:1 pro-rata non-renounceable rights offer priced at $0.01 per share.

    The funds raised under the Offer will be used to advance the exploration of the copper and gold potential of its East Kimberley tenement.

    Additional drill holes were planned at Todhunter North-Pentecost and King River Fault Zone prospects following the completion of the 2014 exploration program.

    Drilling and recompilation of magnetic, IP and SAM geophysical data within the 5km long Chapman-Greys corridor have identified new IP targets for drilling in 2015 associated with the interpreted west dipping Grey and Chapman thrusts.

    Further reconnaissance drilling is planned at Todhunter for 2015.

    The Offer is not underwritten. Minimum subscription under the Offer is $250,000.

    The Company expects to lodge an offer document for the Offer with the ASX on 19 February 2015. The Record Date is 16 February 2015. Option holders will not participate in the Offer.

     

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