Talonx Resources Ltd. has raised AU$750,000 to fund drilling at its gold projects in Western Australia.
The placement will comprise 75 million new shares priced at 1 cent per share. Completion of the placement is expected on March 31.
Talonx Executive Chairman Steve Lennon said: “The proceeds of the placement together with existing cash reserves puts Talonx in an excellent position ahead of the upcoming maiden drilling program at Blair North and the recommencement of RC drilling at the Viking gold project.
“This is an exciting period ahead for the company and we look forward to drilling some quality high grade gold targets.”
Talonx will use the proceeds to fund the maiden 1,800 metres reverse circulation (RC) drilling activities at Blair North in early April.
Drilling will be targeting high-grade gold mineralisation at the Commodore, Commodore North and Snake Hill gold prospects.
Following the program at Blair North, the RC rig will mobilise to the Viking project where 1,200 metres of planned drilling will test for extensions of high-grade mineralisation at the Beaker 2 and Beaker 4 prospects.
The company’s initial 867 metre RC program was conducted at Beaker 2 prospect in December 2025 and returned results including 5 metres at 7.4 grams per tonne of gold from 70 metres and 14 metres at 2 grams per tonne of gold from 9 metres.