- Constellation Resources (CR1) has begun an aircore drilling program at the Orpheus Project in the Fraser Range province of WA
- The Orpheus Project comprises six tenements — three of which are held in a joint venture with fellow ASX-lister Enterprise Metals (ENT)
- The 20-hole program will follow up on a geochemical target called the “Eyre Anomaly”, which is believed to extend for three kilometres
- The results will be interpreted and compiled with previous drill results to define targets for future reverse circulation (RC) drilling and survey work
- Constellation ended the day in the grey with shares closing at 32.5 cents
- Enterprise also ended the day in the grey with shares closing flat at 2.1 cents
Constellation Resources (CR1) has begun an aircore drilling program at the Orpheus Project within the Fraser Range province of WA.
The Orpheus Project comprises six tenements that cover approximately 558 square kilometres. The project includes a 70 per cent interest in three mineral exploration licences and one mineral exploration licence application.
The granted tenements form part of a joint venture between Constellation Resources and fellow ASX-lister Enterprise Metals (ENT), who owns the remaining 30 per cent interest.
Under the joint venture, Constellation is sole funding all exploration activities on the relative tenements until a bankable feasibility study is completed.
This program will act as a follow up to initial aircore drilling which defined a highly prospective nickel-copper-cobalt-platinum group element geochemical target.
This target has been dubbed the “Eyre Anomaly” and is believed to be three kilometres long and up to 400 metres wide.
Follow-up drilling includes 20 holes, for 2200 metres, and will aim to infill each anomaly, with the northern Eyre Anomaly being the first priority.
The results will be interpreted and compiled with results from previous drilling to refine targets for a future reverse circulation drilling program as well as a downhole electromagnetic program.
Constellation ended the day in the grey with shares closing at 32.5 cents.
Enterprise also ended the day in the grey with shares closing flat at 2.1 cents.