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Hardey Resources completes drilling at Lloyds Copper Mine, news flow expected

This is the company's primary copper asset alongside its core vanadium portfolio.

LOCATION OF TWO DRILL-HOLES & TEAM IN ACTION AT BURRAGA PROJECT
All drilling samples have been sent to the laboratory for further analysis

Hardey Resources Ltd (ASX:HDY) has completed drilling two exploration drill-holes as part of the Lloyds Copper Mine extension program at the Burraga Project in New South Wales.

Two reverse circulation (RC) holes for 740 metres were drilled to test extensions to known mineralisation.

Samples have now been processed and dispatched to the lab for follow-up analysis with results likely available in the next few weeks.

READ: Hardey Resources gains new substantial shareholder in Pacific Continental Holdings

Hardey’s director Robert McCauley said: “It is pleasing to have concluded this latest drilling round at our core copper project.

“The board looks forward to reviewing the assay results as this will determine the next phase of the drilling program at the Burraga project.

“Further, our geology teams are ramping up development work on the vanadium projects, given favourable global demand-supply dynamics have propelled the V2O5 price to 5-year highs.”

Further drilling likely

Once the assay results have been reviewed, further drilling is likely to be proposed to test potential extensions to the known ore body to the east.

READ: Hardey Resources on fast-track to reopen Nelly Vanadium Mine in Argentina

In addition, Hardey intends to provide updated progress reports on its Nelly Vanadium Mine and six vanadium assets in the Northern Territory and Queensland.

Hardey aims to capitalise on Argentina’s comparatively favourable mining laws to expedite re-opening the Nelly Vanadium Mine.

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