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- Caeneus Minerals (CAD) updates the market regarding the assay results from the Roberts Hill Project in Western Australia
- On October 5, the company wrapped up a maiden drilling program at the project, undertaken to better understand the lithologies in six prospective areas
- Caeneus initially expected to receive the first batch of results at the end of October, but due to elevated drilling activity there have been industry-wide delays
- As a result, results are now expected to be received in the second half of November
- Shares in Caeneus Minerals are up 21.43 per cent to 1.7 cents at 11:50 am AEDT
Caeneus Minerals (CAD) has updated the market regarding the assay results from the Roberts Hill Project.
The Roberts Hill Project lies in the Mallina Province of Western Australia, roughly 50 kilometres south of Port Hedland.
On October 5, Caeneus wrapped up a maiden drilling program at the project which was undertaken to better understand the nature of the lithologies in six prospective areas.
All up, 197 aircore holes — spanning 15,999 metres of drilling — were completed with 5181 drill samples sent for analysis.
The majority of holes were sampled at four-metre intervals, except for when sulphide and silica alteration was observed for which one-metre intervals were used.
All samples are now at Caeneus’ Perth-based laboratory with analysis underway.
Caeneus initially announced it expected to receive the first batch of results at the end of October, but due to elevated drilling activity in Western Australia there have been industry-wide delays.
As a result, Caeneus expects to receive the first portion of assay results in the second half of November.
Once received, the results will be sent directly to CEO Rob Mosig who will analyse them and report them directly to the board.
Shares in Caeneus Minerals are up 21.43 per cent to 1.7 cents at 11:50 am AEDT.
