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- Phase three drilling expected to commence shortly
- Approximately 40 to 50 RC holes for 4,000m to 5,000m of drilling planned
- Phase three drilling is seen as key objective for growth
- Continuing to test for extensions of the mineralised system at depth
Xpedra Resources (ASX: XPD) is set to kick-off a significant phase three drilling program at the Springfield gold deposit in NSW.
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A contractor has been secured and land access arrangements in place for the planned 40-to-50 hole reverse circulation (RC) program of approximately 4,000m to 5,000m of drilling designed to expand the scale of the deposit.
The company’s initial drilling Springfield at delineated broad, shallow mineralisation over 400m of continuous strike.
“Our phase three drilling program represents an important step-up in our exploration at the Springfield gold deposit, with the focus of this upcoming program firmly on expanding the scale of the mineralised system that is rapidly emerging following our two very successful drilling programs earlier this year,” MD, Scott Funston, said.
“The key objective of this upcoming program is growth. For the first time, we will begin systematically testing a 1.1km long corridor immediately north of the 400m long zone of shallow continuous mineralisation that we have delineated to date.
“Historical exploration work outlined extensive shallow gold and arsenic anomalism throughout this 1.1 km-long corridor, but no drilling has ever been undertaken to test the depth potential. This presents a compelling opportunity to expand the strike extent of the mineralised system.
“At the same time, we will continue testing for extensions of the Springfield deposit at depth – as mineralisation there remains completely open along the entire 400m of strike drilled to date.
“We will also target extensions of higher-grade zones identified in our recent drilling, including deliberately testing for the strike and depth extensions of the significant intercept of 13m at 10.21 g/t gold returned from our recent drill hole SFRC025.
“With a drilling contractor now secured and land access arrangements in place, we are preparing to commence our largest drilling program to date. This program has the potential to significantly expand the scale of the Springfield deposit,” Mr Funston said.
XPD was steady at 1.8¢ with a Mkt cap of $14.22M prior to markets opening.
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