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Accelerate Resources completes second drill hole targeting cobalt copper gold

Official lab assays remain pending and core from the first hole has now arrived in Perth.

3D Chargeable IP Anomalies with Drill Targets
Diamond drilling has been designed to test the IP chargeability anomaly

Accelerate Resources Ltd (ASX:AX8) has completed its second diamond drill hole at the Thomas Creek cobalt-copper-gold prospect within its Mount Read Project in Tasmania.

TCDD002 is the second of three initial holes targeting a large chargeable IP anomaly below a surface copper-cobalt anomaly.

Notably, disseminated sulphides were observed over 193 metres down hole from surface in this second hole.

READ: Accelerate Resources intersects semi-massive sulphide in its first Mount Read diamond hole

Third hole underway, assays pending

Drilling of TCDD003 has commenced.

The hole is targeting the deeper, central part of the IP chargeability anomaly and is located approximately 100 metres northwest of TCDD001.

Drill core from the first hole has arrived at the lab in Perth and is now being cut and sampled before assaying.

Two main prospects at Mt Read Cobalt Project

Mt Read contains two main prospects, the Thomas Creek cobalt-copper-gold prospect and the Henrietta cobalt-nickel-copper prospect.

In October 2017, four samples were collected from the Thomas Creek site.

The results collectively highlighted the likely presence of a mineral system that could potentially host economic mineralisation.

Surface sampling and an induced polarisation (IP) survey was used to define drill targets at Thomas Creek.

Quick facts: Accelerate Resources Ltd

Price: 0.095 AUD

Market: ASX
Market Cap: $13.61 m

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