Zenith Minerals: Seeks $6m cash boost after June quarter

Zenith Minerals Seeks $6m cash boost after June quarter

• Zenith Minerals (ZNC) progressed multiple drilling programs across its gold and copper projects in the June quarter
• In April, ZenithMinerals made a zinc-lead discovery at the Earaheedy Project in Western Australia
• A major zinc-lead discovery at the Earaheedy Project prompted a drilling program which doubled the mineralised footprint at the Chinook prospect
• Drilling was also carried out at the Red Mountain and Split Rocks gold projects, with the latter generating multiple targets
• ZNC is raising $6 million to fund drilling, with around 27.9 million shares to be issued at 21.5 cents per share to institutional and sophisticated investors
• Company shares are down 12 per cent to trade at 22 cents at 1:43 pm AEST