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Strategic Minerals to begin exploration drilling at the Mount Weld project

A technical review of the tenements has identified a number of early targets considered to have good potential for gold and rare earth element mineralisation
Strategic Minerals
Drilling will kick off in April subject to necessary approvals

 

Strategic Minerals PLC (LON:SML) plans to carry out an initial exploration drilling programme at the Mount Weld tenements in Western Australia.

The company said a technical review of the tenements, which are held by its wholly-owned subsidiary Central Australian Rare Earths, has identified a number of early targets considered to have good potential for gold and rare earth element mineralisation.

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"For this reason, the board feels justified in undertaking further significant exploration at the Mount Weld Project over the course of 2018 with the first phase to commence in April 2018 and expects to be able to fund these activities using the company's existing cash flow,” Strategic Minerals chairman Alan Broome said.

The aircore drilling programme will include 45 holes for a total 2,600m and group expects results to be available about eight weeks after completion.

Drilling will test the potential for carbonatite dykes peripheral to the Mount Weld carbonatite intrusion, the company said.

The drilling at the tenements, located southwest of the historic Burtville and Mikado gold mining centres, is subject to Department of Mines, Industry Regulation and Safety approval.

 

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