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AXG Mining To Reveal Details Of Acquisition

AXG Mining (ASX: AXC) has requested a trading halt from the ASX today pending an announcement on an acquisition and the resultant company's capital structure.

No further details regarding the acquisition were released, however the company has been busy advancing its Peruvian exploration and unearthing some early stellar results from its Condoroma copper-gold project.

Sampling earlier this year returned silver anomalies with grades of up to 995 grams per tonne (g/t).

Condoroma is located in the prospective Andahualyas-Yauri mineral belt, near to and along the same structure as large mines and development projects such as Xstrata's (LSE: XTA) Tintaya mine and Las Bambas and Antapaccay development projects.

The belt currently hosts over 4 billion tonnes of Inferred and Indicated Resources.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Friday 21 September 2012.

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