Asra Minerals Secures AU$3 Million to Accelerate Leonora Gold Drilling

Asra Minerals Ltd (ASX: ASR) has secured firm commitments for a two-tranche placement to raise up to AU$3 million, primarily to fund an aggressive drilling campaign at its Leonora Gold Projects. The placement, priced at AU$0.002 per share, will support resource extension drilling across the Orion-Sapphire, Stirling Well, and Viserion deposits, and test multiple high-priority regional targets. Directors have also committed an additional AU$60,000, subject to shareholder approval. The funds will strengthen Asra's working capital, enable evaluation of potential gold project acquisitions around Leonora, and cover corporate overheads. The company recently defined 26 high-priority targets through detailed geophysical work and has received approval for its drilling Programme of Work. Drilling is expected to commence in late April or early May 2025, with Discovery Capital Partners and GBA Capital acting as Joint Lead Managers for the placement.

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