Stelar Metals (ASX:SLB) starts diamond drill program at Evelyn Dam

• Stelar Metals (SLB) begins diamond drilling at its Evelyn Dam iron oxide copper gold (IOCG) project in South Australia
• The drilling program will consist of one drill hole for a nominal depth of 1500 metres and will target an lOCG geophysical target
• The target was identified through a review of historic gravity and magnetic surveys conducted by BHP
• The program will run for six weeks, with first assays expected in the third quarter
• Shares are trading up 2.33 per cent today at 22 cents each at 12:57 pm AEST

Stelar Metals (SLB) has begun its diamond drilling program at its Evelyn Dam iron oxide copper gold (IOCG) project in South Australia.

The program will consist of one drill hole for a nominal depth of 1500 metres and will target an lOCG geophysical target.

The target was identified through a review of historic gravity and magnetic surveys conducted by BHP.

The company chose to conduct deep drill testing as it believes the historical data indicates the potential for a large Olympic Dam style IOCG target.

The program will run for six weeks, with first assays expected in the third quarter.

CEO Colin Skidmore said he is excited to begin the drilling.

“This inaugural drill program will see Titeline’s drill rig use the second cleared drill site,
located to the south of EVE001 drilled by Rio Tinto, and is designed as an angle hole to intersect the high-level gravity peak at 1200-1500 metres drilled depth,” he said.

Shares were trading up 2.33 per cent today at 22 cents each at 12:57 pm AEST.