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Manas Resources To Reveal Details Of A$5M Capital Raising

Manas Resources (ASX: MSR) is working to finalise plans for a minimum A$5 million private placement.

The company has requested a voluntary suspension from the ASX until it is ready to release an announcement.

Earlier this week Manas delivered updated JORC Resources and Reserves for its Shambesai Gold Project in the Kyrgyz Republic, with 95% of the Resource now in the Measured and Indicated categories.

The Measured, Indicated and Inferred JORC Resource now totals 8.1 million tonnes at 2.69 grams per tonne (g/t) for 697,000 contained gold ounces (0.3g/t gold cut‐off for oxide resources and 0.75 g/t for sulphide resources).

The updated estimate has increased the confidence levels to include 1.2 million tonnes in the Measured category, including 1 million tonnes oxide and 0.2 million tonnes sulphides, and increased Resources in the Indicated category by 1.1 million tonnes.

Meanwhile, the total high grade oxide Resource from surface increased more than 15% to 2.43 million tonnes at 4.4g/t for 346,000 contained gold ounces.

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