- Minerals 260 (MI6) has launched its inaugural drilling program at its wholly owned Moora Project in WA
- The 3500-metre diamond core drilling program will be the company’s first, following its demerger from Liontown Resources (LTR) and a $30 million IPO, which resulted in Minerals 260 listing on the ASX in October
- Drilling at the project is designed to follow up on intersections reported earlier this year from the Angepena gold prospect to determine the style, orientation and continuity of the mineralisation
- The geological data will then be used to plan a 6000-metre reverse circulation drilling program, which is due to start in late November
- Minerals 260 last traded at 47.5 cents on November 3
Minerals 260 (MI6) has kicked off its inaugural drilling program at its wholly-owned Moora Project in WA.
The 3500-metre diamond drilling program will be the company’s first, following its demerger from Liontown Resources (LTR) and a $30 million IPO, which culminated in Minerals 260 listing on the ASX in October.
The drilling program at the gold-PGE-nickel-copper project is designed to follow up on intersections reported earlier this year from the Angepena gold prospect.
Intersections included 43 metres at 1.8 grams per tonne (g/t) gold from 198 metres, including 18 metres at 3.9 g/t gold from 211 metres.
The diamond core drilling will seek to determine the style, orientation and continuity of the mineralisation.
The geological data will then be used to plan a 6000-metre reverse circulation drilling program, which is due to start in late November. This will be designed to delineate the limits of the system.
Following this, Minerals 260 said it will undertake follow-up drilling at other targets associated with the Mt Yule magnetic anomaly and fly a low-level aeromagnetic survey to better define prospective mafic and ultramafic units obscured by transported cover.
The company said it will also extend first-pass geochemical sampling to define new target areas. The results of this work will be used to plan further drilling programs
Minerals 260 last traded at 47.5 cents per share on November 3.