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King River Copper Granted Halt, Raising Capital

King River Copper (ASX:KRC) has been granted a trading halt by the ASX, pending details of a capital raising.

KRC's shares are currently in pre-open.

The securities will remain in halt until the earlier of the commencement of normal trading on Tuesday 10 June 2014 or when the announcement is released to the market.

KRC shares have been on the rise, moving to $0.14 yesterday, up from $0.07 on the 13th May.

The company revealed earlier in the week that it assayed up to 10.7% copper, 4.7g/t gold and 231g/t silver from the copper oxide mineralised boulders uncovered during drill site access preparation at its Speewah Dome project in Western Australia.

The boulders were uncovered 10 metres below and 18 metres to the south of the main Chapman outcrop, and was found in quartz, shale and felsic granophyre and also in association with hematite-quartz breccia.

Its proximity to the Chapman outcrop provides encouragement prior to the commencement of drilling at this site.

KRC's imminent Phase 1 drilling program will investigate high grade copper, gold and silver surface results at Speewah Dome.

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