Join our daily newsletter At The Bell to receive exclusive market insights
- Caeneus Minerals (CAD) submits 5181 drill samples for geological analysis from its highly prospective Roberts Hill Project in the Mallina Basin, Pilbara WA
- The anticipated air-core drilling program assays are now awaiting laboratory testing, with results set to be released by mid-January
- Located around five kilometres from De Grey’s (DEG) Hemi Project, CAD says it is optimistic in relation to understanding the geological potential of Roberts Hill
- Despite an Australia-wide backlog in analytical laboratory reports, the company says it is continuing to work with the testing centre to ensure urgency and priority
- CAD is trading grey at 1.3 cents
Caeneus Minerals (CAD) has submitted more than five thousand drill samples for geological analysis from its Roberts Hill Project in WA’s Pilbara region.
The anticipated sample assays from the company’s air-core drilling program are now waiting for laboratory testing, with results set to be released by mid-January.
With the project located in the Mallina Basin and within five kilometres of De Grey’s (DEG) Hemi Project, CAD said it was confident the revised timing update would be achieved and was remaining optimistic in relation to understanding the geological potential of Roberts Hill.
Despite an Australia-wide backlog in analytical laboratory reports due to an overload in assay assignments, Caeneus Minerals said it was continuing to work with the testing centre to ensure urgency and priority for its 5181 drill samples.
Chairman Davide Bosio said the company had boosted its technical team in anticipation of the pending results.
“Roberts Hill has progressed rapidly since we obtained our heritage approval in August this year. Our technical team have completed our maiden air-core program and we look forward to receiving results from the first of what we consider may be many significant future drilling programs.” Mr Bosio said.
“All explorers are experiencing frustrations at present as a result of long wait times for results. However, we have a number of targets to work through and remain optimistic about the future.”
The company has recruited Senior Geologist Charles Armstrong in a bid to further strengthen its technical team. Mr Armstrong has over six years of experience with significant exposure to gold exploration.
CAD said once the assays were received, a new Program of Work would be submitted for further drilling at Roberts Hill. At this stage, it’s anticipated additional exploration drilling will commence in the first quarter of 2022.
Shares in Caeneus Minerals were trading grey at 1.3 cents at 11.30 am AEDT.
