Octagonal Resources (ASX:ORS) is preparing to outline details regarding its current operations, along with further details regarding the Non-renounceable Rights issue announced in October.
The ASX has granted the company a trading halt, with its shares placed in pre-open.
Earlier in the month ORS provided an update on the underground mine development at the Alliance South Deposit at Maldon in Central Victoria.
Following the intersection of the Eaglehawk Reef on the 1080 level of the Alliance South Deposit in late September, the reef has now been developed over 76 metres strike length, with 158 face channel samples collected from 27 mining faces and 48 samples collected from 12 sludge holes.
This work has defined an area of high-grade gold near the 1080 level cross-cut, with mine development intersecting 12 metres of reef grading 15.6g/t gold over 1.7 metres width and sludge hole drilling into the west wall intersecting 18 metres of reef grading 4.4g/t gold over 5.85 metres width.
The halt will remain in place until the opening of trade on Tuesday 18th November 2014, or earlier if an announcement is made to the market.
