- Codrus Minerals (CDR) begins its maiden reverse circulation (RC) drilling program at the Red Gate Project in Western Australia
- Approximately 2500 metres of drilling will be undertaken to test priority induced polarisation geophysical targets and to follow up on historical high-grade results
- Previous work primarily focused on the Porphyry North prospect which was subject to rotary airblast, aircore and RC drilling
- Given that Porphyry North has been adequately tested, the upcoming RC drilling will test the Porphyry West and Arieta IP anomalies as well as the Grunters soil anomaly
- Codrus ends the day in the grey with shares trading at 13.5 cents
Codrus Minerals (CDR) has begun its maiden reverse circulation (RC) drilling program at the Red Gate project in Western Australia.
The Red Gate Project lies roughly 140 kilometres north of Kalgoorlie and consists of one granted exploration licence that covers an area of 145.2 square kilometres.
Approximately 2500 metres of RC drilling will be undertaken to test priority induced polarisation (IP) geophysical targets and to follow up on historical high-grade results.
Previous work primarily focused on the Porphyry North prospect which was subject to rotary airblast, aircore and RC drilling.
Regional airborne and ground geophysical surveys were also undertaken as well as soil sampling.
The mineralisation encountered in this previous work showed a strong relationship between the alteration, pyrite and gold.
Given that Porphyry North has been adequately tested, the upcoming RC drilling will test the Porphyry West and Arieta IP anomalies as well as the Grunters soil anomaly.
Managing Director Shannan Bamforth said the company was excited to begin drilling.
“Historical work programs at the Red Gate Project have indicated strong potential for the project to host significant mineralisation,” Mr Bamforth commented.
“We’re delighted to now have our maiden program of 2500 metres of RC drilling underway, with the results expected to deliver an important insight into several of the key anomalies at Red Gate to assist with ongoing targeting.”
Codrus has ended the day in the grey with shares trading at 13.5 cents in a $10.12 million market cap.