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Woomera Mining Ltd (ASX:WML) has kicked off exploration drilling at its Bronze Fox copper-gold project in Mongolia, with the aim of extending a high-grade zone close to hole F62, as well as testing an induced polarisation anomaly.
Infill and extension drilling will also be a focus for the company, as it plans to boost Bronze Fox’s current resource base and convert the project from an EL (exploration licence) to ML (mining licence).
To progress this two-pronged approach, two rigs have been brought on-site to allow for 2000 to 3000 metres of diamond drilling to be completed over 6 to 8 weeks, with results due in January.
The work is part of Woomera’s plan to earn up to 80% interest in the play from Kincora Copper Ltd (ASX:KCC) by spending US$4 million, with the additional option to acquire a 100% interest.
Bronze Fox stretches over 175 square kilometres in the Southern Gobi porphyry belt of Southern Mongolia, around 450km south of the capital Ulaanbaatar. Additionally, it is proximal to a number of world class projects such as Oyu Tolgoi, Kharmagtai, Tsagaan Suvarga and Tavan Tolgoi.
Work already completed by Kincora – comprising 46,625 metres of reverse circulation (RC) and diamond core drilling – has revealed three shallow, large porphyry complexes at the project.
Woomera has been trading flat at 0.2 cents.
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