Auroch Minerals raises AU$2.65 million to increase exploration at lithium projects

Auroch Minerals Limited (ASX: AOU) announced that it had received binding commitments from previous and new institutional and sophisticated investors for a Placement to raise a total of AU$2,650,000 from the issue of 55,208,334 shares at AU$0.048 per share.

The funds will fast-track the drilling at the newly discovered Kangaroo Hills Lithium prospect, located just about 8km north of the historical Nepean mine. The remaining funds will be utilised to develop the 100% owned Saints and Leinster Nickel Projects in WA and to test priority REE targets at the Arden Copper-Zinc-REE Project (90%) in South Australia. The funds will also finance the maiden drilling program at the company’s 80% owned Nevada Lithium Project in Nevada, USA.

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