Los Cerros (ASX:LCL) has commenced a ~3,000m drilling campaign at the Kusi high grade gold-copper target in Papua New Guinea.
Previous drill and trench results include 10.1m @ 2.39g/t Au from 0m in diamond drill hole KSDD003, 20m @ 2.89g/t Au from 107m in diamond drill hole KSDD004, 35m @ 3.04g/t Au from 136m in diamond drill hole KSDD007, and 20m @ 3.84g/t Au in trench FPR TR 1.
Los Cerros says it's raising capital via an offer to shareholders to close onMarch 20, unless extended.
It says funds raised will be used to fast track nickel and copper battery metal targets, prepare multiple porphyry-style targets for joint venture, and for working capital.