- OZZ Resources (OZZ) begins reverse circulation drilling at its Rabbit Bore project in Western Australia
- Around 3600 metres of drilling is planned to test a series of gold, nickel and copper targets generated from soil sampling completed at the end of 2021
- OZZ says kicking off this program marks a significant ramp up in exploration activity as it begins its “multi-pronged” campaign across its WA-based projects
- Drilling is expected to progress at the Maguires, Mt Davis and Peterwangy projects once the necessary approvals are received
- Shares are trading 7.14 per cent higher at 10.5 cents at market close
OZZ Resources (OZZ) has begun reverse circulation drilling at its Rabbit Bore project in Western Australia.
Kalgoorlie-based drilling company K-Drill is undertaking the 3600-metre drilling program following drill pad preparation completed in the first week of May.
Drilling will test a series of gold, nickel and copper targets generated from soil sampling completed at the end of 2021.
The company said kicking off this program marks a “significant ramp up” in exploration activity as it begins its “multi-pronged” campaign across its projects in WA’s Eastern and North-Eastern Goldfields.
Necessary approvals are pending for the Maguires, Mt Davis and Peterwangy projects and as such, OZZ expects drilling to progress immediately after the program at Rabbit Bore, with priority targets to be finalised following the receipt of further geochemistry results.
Peterwangy was the site of WA’s first gold rush in 1868 and no drilling has been undertaken to date. OZZ is using a combination of magnetic survey data and ground-based soil sampling to generate drill targets in this area.
“Our work at Rabbit Bore to date, including soil geochemistry and aeromagnetic surveys, has clearly supported the prospectivity for gold, nickel and copper mineralisation,” Managing Director Jonathan Lea said.
“The commencement of drilling marks the culmination of our systematic approach to defining targets in the most efficient and cost-effective way.”
“The remainder of 2022 is expected to see a high level of exploration activity and we are excited to have the opportunity to unlock the full potential of our highly prospective projects.”
Company shares were trading 7.14 per cent higher at 10.5 cents at market close.