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GWR Group Ltd (ASX:GWR) has rolled out a busy program of exploration and development work at its Prospect Ridge magnesium project in Tasmania, with a scoping study commencing in conjunction with Phase 2 diamond drilling at the Arthur River deposit.
This drilling – which comprises six diamond holes for 900 metres – is set to be followed up by a third program comprising 21 holes which has been proposed for later in the year.
The scoping study at Prospect Ridge will use data from previous feasibility studies and recent drilling and will be supported by Federal government funded Regional Research Collaboration Grant.
GWR’s Chairman Gary Lyons said the company would be busy in the next few months with an intense work program at the project, which is located in Tasmania’s northwest, and owned jointly by GWR (70 percent) and Dynamic Metals Ltd (ASX:DYM, 30 percent).
“We are eager to push ahead with the Prospect Ridge Magnesium Project and commence Phase 2 drilling for 900 metres whilst also discussing plans to follow up with an aggressive 3,150 metres, 21-hole program,” he said.
“The drilling program will be used to provide additional metallurgical samples, assist with mineral Resource estimation and domaining of mineralisation types, all valuable information that will assist in completing a detailed scoping study on the project.
“The potential infrastructure in place to advance this project through to production is a significant benefit to the economics of the Prospect Ridge Magnesium Project and the Company will continue on its green focus with the potential industrial hub planned by the Tasmanian Government at Hampshire located less than 40 kilometres from the Prospect Ridge Magnesium Project, where a combination of potential hydro and wind power sources are planned.”
GWR Group has been trading at 8.7 cents.
