- Australian Mines (AUZ) has begun a follow-up reverse circulation (RC) drilling program at its Broken Hill Project in New South Wales
- A five-hole drill program is underway to test the downhole electromagnetic (DHEM) anomalies identified during the company’s October 2020 drilling campaign
- DHEM anomalies identified at targets Alpha 1 and Alpha 5 point to off-hole conductive sources, suggestive of sulphide mineralisation
- AUZ said the results to date, as well as the project’s proximity to the nearby supergiant Broken Hill lead-zinc-silver deposit, are encouraging
- Shares last traded 4.8 per cent lower at 2 cents each
Australian Mines (AUZ) has begun a follow-up reverse circulation (RC) drilling program at its Broken Hill Project in New South Wales.
The company received positive results from the project in October last year and consequently changed the project name from the Thackaringa asset to the Broken Hill Project.
The project is located along strike of the nearby supergiant Broken Hill lead-zinc-silver deposit and hosts similar geology.
Now, a five-hole drill program is underway to test the downhole electromagnetic (DHEM) anomalies identified during the company’s October 2020 drilling campaign.
The DHEM anomalies identified at targets Alpha 1 and Alpha 5 point to off-hole conductive sources, suggestive of sulphide mineralisation.
AUZ is encouraged by the results received to date, as they suggest the presence of several encouraging Broken-Hill-style lead-zinc-silver targets at the project.
The follow-up program will cover approximately 1200 metres of drilling and is expected to take three weeks to complete.
Shares last traded 4.8 per cent lower at 2 cents each.