Avonlea Minerals Raise $1.5m and Appoint Non-Exec Chairman

Mineweb reported that Avonlea Minerals (ASX:AVZ) has secured financing for its Namibian vanadium exploration activities.

The market news is quoted as saying:

Upon completion of the placement, the Company will be well funded to undertake a 2,000+metre diamond drilling program to confirm the potential for significant vanadium mineralisation at the area that hosts the historical Abenab vanadium mine and primary REE targets identified through previous exploration. This program is scheduled to commence early October 2011.

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