- AIC Mines (A1M) has begun drilling at the Lamil Gold-Copper Project in the highly prospective Paterson Province of Western Australia
- Up to 10,000 metres of aircore, reverse circulation, and diamond drilling will be undertaken over targets which have never been tested before
- Aircore and RC drilling will be completed over the Lamil Main Dome, the Lamil NE Dome and geophysical anomalies to gather litho-geochemical data
- Diamond drilling will then be completed to collect information regarding the basement geology and structure
- Drilling will be partially funded by a $150,000 co-funding grant awarded under the Western Australian Government’s Exploration Incentive Scheme
- AIC is down a slight 2.41 per cent and shares are currently trading for 40.5 cents each
AIC Mines (A1M) has begun drilling at the Lamil Gold-Copper Project in the highly prospective Paterson Province of Western Australia.
AIC is currently earning an interest in the Lamil Project under an earn-in and exploration joint venture agreement with Rumble Resources (RTR).
Under this agreement, AIC can earn a 50 per cent interest by spending $6 million over four years with the possibility to add an additional 15 per cent by spending $4 million over one year.
Up to 7500 metres of aircore and reverse circulation (RC) drilling, and roughly 2500 metres of diamond drilling will be undertaken over targets which have never been drill tested before.
Aircore and RC drilling will be undertaken over the Lamil Main Dome, the Lamil NE Dome and geophysical anomalies to gather litho-geochemical data and test the basement-cover sequence interface.
Diamond drilling will then be completed to collect information regarding the basement geology and structure. Seven holes will initially be drilled to a depth of 350 metres.
Drilling will be partially funded by a $150,000 co-funding grant awarded by the Western Australian Government’s Exploration Incentive Scheme.
Further, surface geochemical and geophysical surveys are also underway.
AIC is down a slight 2.41 per cent and shares are trading for 40.5 cents each at 12:35 pm AEST.