Lion Selection Group (ASX:LSX) has completed a $2 million investment in unlisted copper and gold explorer Plutonic.

In early February 2024, Plutonic closed a $3 million capital raising, with Lion investing $2 million.

Lion, which has a market capitalisation of $60.69 million, now holds a 48.5% interest in Plutonic.

Executive Chairman Robin Widdup says Lion is ‘delighted’ to be working closely with a ‘wonderful’ technical team.

“This funding sets Plutonic up to deploy a large-scale IP survey, which will give us a great idea of targets to drill within large hydrothermal systems over an unexplored intersection of crustal-scale structures.

This is exciting work in any market.”

“This funding sets Plutonic up to deploy a large-scale IP survey”

Further, Plutonic has identified potential at its wholly owned Champion Project in the Northern Territory for never-before-considered mineral systems over a ‘large’ area, providing the basis for ‘large’ exploration targets — which could lead to district-scale discoveries, according to Lion.

Lion Selection Group is a specialist mining investment company focused on junior miners.

Images: Lion Selection Group