SUMMARY
• A six-week drilling program has commenced at the Peake Project to test the high-priority Paradise Dam and Douglas Creek Prospects
• The first drill hole will test the Paradise Dam Prospect, which is defined by a strong chargeability anomaly of up to 50mV/V strength, 3km in strike length (>30mV/V)
• The second drill hole will test the Douglas Creek Prospect, which is a large-scale shallow classic IOCG-style coincident “Magnetics and Gravity” anomaly of 1400nT (mag) and 1.9mGal (gravity)
• The Company intends to release laboratory assay results progressively throughout the program as appropriate
• Regional exploration with a focus on gold prospectivity is underway in parallel with the current drilling
• Well-funded with over $4m cash after a recent capital raise of $2m. The two-hole drill program is budgeted to cost $0.8m
The compelling drill targets have been developed from $2m of geophysics data acquisition, $4m of drill testing and iterative refining of the exploration model from our highly credentialled technical team from an original 40 geophysical anomalies over the last three years.
LEARN MORE
Learn more about the drilling program with the latest Investor Presentation.
MORE INVESTOR UPDATES
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