- Ark Mines (AHK) officially launches a maiden reverse circulation (RC) drilling program at the Gunnawarra nickel-cobalt project in North Queensland.
- Ark confirms that lateritic material has been encountered up to 40 metres deep in some locations
- Executive Director Ben Emery says the drilling program is a “pleasing milestone” and the results so far have been surprising for the company.
- Mr Emery confirms that the company is trying to fast-track assays from the initial drilling and has plans to expand the program depending on the results
- AHK shares closed red by 6.67 per cent this afternoon at 28 cents
Ark Mines (AHK) has officially launched a maiden reverse circulation (RC) drilling program at the Gunnawarra nickel-cobalt project in North Queensland.
So far, the company has drilled 500 metres of a planned 2000 metres, with drilling designed to target known nickel-cobalt mineralisation in shallow laterites as well as other potential mineralisation in some step out locations.
Ark has confirmed that lateritic material has been encountered up to 40 metres deep in some locations.
Executive Director Ben Emery said the drilling program was a “pleasing milestone” and the results so far had been surprising for the company.
“Our forward strategy is to see if we can quickly secure assay results for the first 1500 metres, and if we report encouraging preliminary assay results, our plan is to immediately expand the current drill program,” Mr Emery said.
The 36sqkm Gunnawarra Nickel-Cobalt project comprises 11 sub-blocks and borders Australian Mines’ (AUZ) Sconi project, which AHK said was the most advanced cobalt-nickel-scandium project in Australia.
Ark also has two other high-quality projects that cover 29 square kilometres and are prospective for copper, iron ore, nickel-cobalt and porphyry gold.
AHK shares closed red by 6.67 per cent this afternoon at 28 cents.