- Auric Mining (AWJ) kicks off drilling at its Chalice West project in the Goldfields-Esperance region of Western Australia
- The company plans to drill around 240 drill holes to test for gold, nickel, lithium and rare earths, and this is expected to take five to seven weeks to complete
- The company has also organised for onsite pXRF testing for nickel, lithium, rare earths and other minerals
- Given its close proximity to the Chalice gold mine, as well as its prospectivity, Managing Director Mark English believes the project offers an “outstanding” exploration opportunity
- AWJ shares are trading grey at 7.7 cents at 10:42 am AEDT
Auric Mining (AWJ) has kicked off drilling at its Chalice West project in the Goldfields-Esperance region of Western Australia.
The company plans to drill around 240 drill holes to test for gold, nickel, lithium and rare earths.
Auric has also organised for onsite portable x-ray fluorescence (pXRF) testing for nickel, lithium, rare earths and other minerals.
Auric Managing Director Mark English said given its close proximity to the Chalice gold mine, and its prospectivity, he believed the Chalice West project was an “outstanding” new exploration opportunity.
“We see from magnetic imaging that the geology of the Chalice West project appears to be a mirror to that of the Chalice gold mine and on that basis warrants a substantial drilling program,” Mr English said.
“We are drilling just a few kilometres from the Chalice gold mine, which produced nearly 700,000 ounces of gold less than a decade ago, which would be worth more than $1.5 billion at today’s value.
“Large lithium and nickel deposits occur in the vicinity. We will be exploring and testing data for a range of elements to give us further information on the likelihood of a commercial deposit.”
The 10,700-metre drilling program is anticipated to take around five to seven weeks to complete.
The samples collected will be processed by Intertek Genalysis, with assays expected within four to six weeks.
AWJ shares were trading grey at 7.7 cents at 10:42 am AEDT.