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Metals Australia (ASX:MLS) has announced to shareholders it’s on the cusp of kicking off gold drilling at its Big Bell North project.
A 4,500m aircore campaign will be carried out on the Murchison region acreage with Big Bell North tenements covering some 337sq.km. The company said on Wednesday it’s cashed up to go ahead and with multiple targets on the radar.
Underlying greenstone geology has geotechs hopeful the notoriously gold friendly rock type will yield results for the company – especially given a number of interesting targets on-site found via electromagnetic imaging.
Electromag data has given the company drill targets on both the east and western ends of the Big Bell North tenements with the eastern target associated with an underlying shear zone called Chunderloo.
Those same greenstone rocks, Metals Australia wrote on Wednesday, have been subject to a historical lack of exploration. The western zone targets are currently subject to a soil sampling run with further refinement of target areas to be conducted by geotechs.
The aircore campaign will, once complete, be followed up by a deeper-penetrating RC rig run.
“Our Big Bell North project, where there has been no modern-day exploration, has advanced rapidly during 2024 on the back of a methodical, phased exploration approach from our geological team,” MLS CEO Paul Ferguson said.
“[We’ve] revealed the likelihood of greenstones within the shear zones. This is significant because gold mineralisation within the Murchison domain is often concentrated within such greenstone belts and is structurally controlled, thus enhancing the potential of the targets we are now set to drill.”
MLS last traded at 2.5cps.
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