Join our daily newsletter At The Bell to receive exclusive market insights
- Caeneus Minerals (CAD) is progressing aircore drilling at the Roberts Hill Project in Western Australia’s prospective Mallina Basin
- So far, CAD has drilled 76 holes, for more than 5000 metres, which represents 25 per cent of the total planned 20,000 metres
- The company is drilling six zones with drilling at the first zone already completed
- Already, the program has highlighted disseminated sulphides and an interpreted intrusive feature which is yet to be drilled
- Company shares are up 6.67 per cent to trade at 1.6 cents at 11:48 am AEST
Caeneus Minerals (CAD) has made some progress on its 20,000-metre drilling program at the Roberts Hill Project Western Australia’s prospective Mallina Basin.
Since the maiden aircore program began at the start of this month, the company has drilled 76 aircore holes, for more than 5000 metres. This represents about 25 per cent of the total planned program.
Caeneus is focused on drilling six zones which were identified as prospective target areas for the current phase one program.
So far drilling has been completed at Zone A and more than 20 of the holes drilled there are known to contain disseminated sulphides associated with an anticlinal feature.
Caeneus is planning to undertake a four square kilometre induced polarisation survey at Zone A.
Drilling has since moved to zones B, C and D to the south and the miner will provide further updates once work at Zone B has been completed.
Caeneus has been working closely with Southern Geoscience to further evaluate airborne geophysical signatures covering what is believed to be an intrusive feature at Zone E. The company will conduct drilling at this area to target newly identified highly brecciated, silicified and bleached outcrop.
In addition to the six zones, the company also defined other drill targets at Roberts Hill but these will be assessed in conjunction with being granted the adjacent Mt Berghaus Project.
Company shares were up 6.67 per cent to trade at 1.6 cents at 11:48 am AEST.
