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Accelerate Resources focusing on Mount Read for its "sensational" geology at surface

Accelerate Resources (ASX:AX8) executive director Andrew Haythorpe speaks to Proactive Investors about operations since the company listed on the ASX in February, following an oversubscribed initial public offering (IPO). 

Diamond drilling is underway on multiple targets around the Thomas Creek prospect at the Mount Read Cobalt-Copper Project in Western Tasmania, with EM studies planned to follow, to inform future exploration efforts. Two nickel-cobalt prospects 15 kilometres north of Thomas Creek are also slated to be drilled as part of the current program.

"Basically [Mount Read] ticks all the boxes. Ironically, because it’s South of the harbor, access is difficult, so that's why it's still sitting there 140 years after initial discoveries were made on the West Coast of Tasmania. So, whilst it takes time for us to establish ourselves, we're well on that pathway… The significance for us at Thomas Creek is not only have we got all the great geology and mineralisation, etc, and now multiple targets: it's at surface. You can literally go out there with a shovel, as we did last year, and dig straight into ore-grade material,” says Haythorpe.

Quick facts: Accelerate Resources Ltd

Price: 0.073 AUD

Market: ASX
Market Cap: $10.46 m

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Accelerate Resources 'seeing the smoking gun, continuing search to find the...

Accelerate Resources Ltd (ASX:AX8) executive director Andrew Haythorpe catches up with Proactive Investors on the Mount Read Project in Tasmania, where a second phase drill program is underway.  "In all of the drilling that we've done so far we've found strong indications of...

on 15/11/18

2 min read