- Many Peaks Gold (MPG) completes the first phase of drilling at its flagship Mt Weary gold project in Queensland
- The company drilled 11 reverse circulation holes for a total of 1806 metres, which aimed to test extensions of mineralisation along prioritised geophysical anomalies
- Many Peaks Gold anticipates receiving assays in the next eight weeks, which will assist targeting based on geophysical modelling
- Meanwhile, a diamond drilling program previously planned for the end of the year is now expected to commence in July
- Shares are trading 0.95 per cent higher today at 53 cents each as of 3:25 pm AEST
Many Peaks Gold (MPG) has completed the first phase of drilling at its flagship Mt Weary gold project in Queensland.
The company drilled 11 reverse circulation holes for a total of 1806 metres, which aimed to test extensions of mineralisation along prioritised geophysical anomalies.
Many Peaks Gold anticipate receiving assays in the next eight weeks, which will assist targeting based on geophysical modelling.
Meanwhile, a diamond core drilling program previously planned for the end of the year is now expected to commence in July. The company is currently seeking drill rigs with appropriate capabilities to undertake the program.
A surface geochemistry sampling campaign is also currently underway.
“Our team is excited about the geology observed in the initial drilling at the Mt Weary gold project, which is aligning with targeting models and providing confidence to accelerate our exploration campaign,” Executive Chairman Travis Schwertfeger said.
“The company is bringing forward plans for diamond drilling work to initiate structural and stratigraphic studies to better define geologic controls on gold mineralisation at the project, and anxiously look forward to assay results from drilling in the next six to eight weeks.”
Shares are trading 0.95 per cent higher today at 53 cents each as of 3:25 pm AEST.