- Mount Ridley Mines (MRD) prepares for resource delineation drilling at its namesake project in Western Australia
- With the necessary permits in hand, aircore drilling is planned across the Mia, Butch, Tyrrell’s, Keith’s, Marcellus’, Winston’s, Jules’ and Vincent’s prospects
- Drilling will kick off at the Mia prospect on a 2000-metre by 400-metre pattern, infill drilling will be undertaken as required to enable a resource estimate
- At the same time, drill core from the stage two program is being sampled ahead of extractive metallurgical test work
- MRD shares are up 10 per cent, trading at 0.6 cents at market close
Mount Ridley Mines (MRD) is poised for resource delineation drilling at its namesake project in Western Australia.
With the necessary permits in hand, aircore drilling is planned across the Mia, Butch, Tyrrell’s, Keith’s, Marcellus’, Winston’s, Jules’ and Vincent’s prospects.
Drilling will kick off at the Mia prospect on a 2000-metre by 400-metre pattern. MRD said further infill drilling will take place as required to enable JORC compliant resource estimates to be completed.
This work is the third stage of the company’s wider drilling campaign, with 101 aircore holes were completed in late 2022 as part of the stage two regional program.
Samples from stage two are being analysed using infra-red and x-ray techniques, and a subset of the core will be analysed conventionally to provide baseline head grades.
The company said the extractive metallurgical work marks the first step towards the development of a process flowsheet.
Over 400 bottom-of-hole samples have also been analysed to identify the lithology of basement rocks and rare earth element containing minerals, as well as other mineralisation indicators.
The final report of this work is due shortly and will provide a framework for a project scale geological basement map, integrating geology with aeromagnetic, gravity and electro-magnetics datasets.
Mount Ridley’s Chairman Peter Christie said the company is “well positioned” to carry out its work programs planned for 2023, with cash and liquid security reserves of around $5.5 million.
MRD shares were up 10 per cent, trading at 0.6 cents at market close.