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- Caeneus Minerals (CAD) has completed an airborne magnetic survey over its Roberts Hill and Mt Berghaus tenements
- Both tenements are adjacent to De Grey Mining’s Mallina Gold Project and Hemi Discovery in the Pilbara region of Western Australia
- Caeneus will evaluate magnetic intensity data from the survey to identify anomalous areas for drill testing
- The company expects to begin first-pass aircore drilling later this year, having now received heritage and program of work approvals for Roberts Hill
- An airborne magnetic survey will also be carried out at the nearby Yule River tenement
- Shares have opened flat and been trading at 1.1 cents
Caeneus Minerals (CAD) has completed an airborne magnetic survey over its Roberts Hill and Mt Berghaus tenements.
The adjacent tenements are located in the Mallina Province, in Western Australia’s Pilbara region.
Caeneus will evaluate the magnetic intensity data from the airborne survey to identify anomalous areas for drill testing.
Following heritage and program of work approvals for Roberts Hill, the company anticipates it will commence first-pass drilling at the tenement before the end of the year.
Caeneus Minerals CEO Rob Mosig said the company is looking forward to proceeding with exploration across its Mallina Province portfolio, underpinned by a recent $2 million capital raise.
“The placement completed by the company last week has provided an excellent treasury to conduct meaningful exploration on our Mallina Province Projects,” Rob stated.
“It is with great excitement that we can now fast-track activities at our Roberts Hill project which immediately abuts the De Grey Mining Limited tenements containing their exciting Hemi and Shaggy deposits,” he added.
The company will also carry out an airborne magnetic survey at the Yule River tenement, also located in the Mallina Province.
The survey is expected to be completed in early October and magnetic intensity data to be available for evaluation later in the month.
Shares have been trading flat at 1.1 cents at 10:30 am AEST.
