Newly listed Todd River Resources (ASX:TRT) has commenced its inaugural exploration drilling program at the Mount Hardy Copper-Zinc Project located in the Northern Territory.
The company started trading on the ASX from 6 April 2017 following a demerger from Perth-based explorer TNG (ASX:TNG).
Todd River completed a $6 million initial public offer after successfully spinning out the Northern Territory base metal assets previously held by TNG.
Interestingly, the company’s shares are currently trading 20% up from its issue price of $0.20, at $0.24.
The maiden drilling program at Mount Hardy has been designed to test several strong geophysical targets associated with extensive surface mineralisation outlined by previous exploration work.
Previous exploration by TNG had discovered large areas of surface copper mineralisation, with coincident induced polarisation and electromagnetic targets and associated mineralisation at depth.
The drilling program will continue until mid-May before the rig moves on to the company’s Walabanba Project, where further high priority geophysical targets have been scheduled for diamond drilling.
Todd River’s portfolio includes the Manbarrum zinc project, the Mount Hardy copper-zinc project, the Stokes Yard zinc project and the McArthur copper-zinc project, as well as a number of other exploration assets.