Korab Resources (ASX: KOR), an Australian mining and exploration company, has been granted two exploration licences at the Batchelor and Green Alligator projects located near Darwin in the Northern Territory.
Leases contain a number of base metals, uranium and cobalt geochemical anomalies coincident with geophysical features indicating potential for significant mineralisation. The targets are drill ready.
Korab is currently preparing the drilling permit application which will shortly be submitted for departmental approvals. Korab said it intends to complete the first-pass drilling program during June-September period once the required approvals has been received.
The Batchelor project is located in the Rum Jungle mineral field within Pine Creek orogen in Northern Territory some 65 km south of Darwin. Local infrastructure includes accommodation, sealed highways, railway line, gas pipeline, high voltage power and potable water offering some of the best logistics of any exploration project in Australia.