Corcel plc’s joint venture partner has refined existing drill targets in preparation for an inaugural drill campaign at the Mt. Weld rare earth elements project near Laverton in Western Australia.
MULTIPLE TARGETS
Riversgold Ltd completed 3D inversion magnetics work had confirmed the validity of multiple magnetic targets and allowed refined planning for drilling, said Corcel.
The upcoming eight-hole reverse circulation drill programme for 2,000 metres is designed to test multiple targets to depths of 250m.
The partners aim to start drilling during Q2, pending regulatory approvals.
MINIMAL COST
“The first operational activity following our farm-out of the Mt Weld project has now been completed, confirming the immediate prospectivity of the project that we first observed last year,” added chief executive Scott Kaintz.
“We look forward to the initial drill campaign beginning and to developing more projects of this nature, offering investors exposure to exploration upside at minimal cost to Corcel.”