Drake Resources on funding drive

(MENAFN- ProactiveInvestors - Australia) Drake Resources (ASX: DRK) is preparing to release details of a capital raising, with the ASX granting the company a trading halt this morning - while placing its shares in pre-open. Earlier in the month Drake announced that a ground and downhole EM survey confirmed multiple conductors supporting recent drill hole success intersecting massive and semi-massive sulphide mineralisation at its Granmuren copper-nickel discovery in central Sweden. The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 18th March 2013.