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- Mount Ridley Mines (MRD) has resumed drilling at its wholly owned Weld Range West Iron Project in the mid-west of WA following the completion of geographical surveys
- The company began a reverse circulation program at the project in April 2021 to test for haematite zones in banded iron formation, made up of 37 holes for 2638 metres at its southern Wilgie Mia and central Lulworth targets
- Samples from drilling are now being analysed by a commercial laboratory, with results delayed due to the exploration boom
- Drilling has now resumed at the extended Lulworth Formation target zone
- Mount Ridley Mines last traded at 0.6 on May 28
Mount Ridley Mines (MRD) has resumed drilling at its wholly owned Weld Range West Iron Project in the mid-west of WA following the completion of geographical surveys.
The company began a reverse circulation program at the project in April 2021 to test for haematite zones in banded iron formation, made up of 37 holes for 2638 metres.
In the first program, two targets were drilled within the project, one in southern Wilgie Mia and another in central Lulworth. This program provided sufficient geological information about the development of haematite for the company to commit to the second programme, which began today.
The company says drilling demonstrated the presence of channel iron deposits along the southern Wilgie Mia formation in a layer up to 15 metres thick.
The first program generated 883 samples that are now being analysed by a commercial laboratory. MRD says results have been delayed due to large numbers of samples generated during the current exploration boom, which created a backlog.
“While we are very keen to get our assay results, we are sufficiently encouraged by the geological observations of drill samples collected during the May drilling programme to resume drilling as soon as possible and have extended the drilling budget to test the central Lulworth Formation BIF,” said Mount Ridley Chairman Peter Christie.
Drilling has now resumed at the extended Lulworth Formation target zone.
Mount Ridley Mines last traded at 0.6 on May 28.
