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Accelerate Resources drilling for battery metals at Mount Read

Accelerate Resources Ltd (ASX:AX8) executive director Andrew Haythorpe updates Proactive Investors on the gold and cobalt explorer’s drilling program at its Mount Read Cobalt Project in Tasmania.

The company has moved a drill rig from the Thomas Creek prospect in order to test a 300-metre electromagnetic (EM) conductor identified at the Young Henry prospect, targeting its sulphide potential.

“We also have nickel and cobalt occurring above the EM conductor, so we’re hoping it’s nickel and cobalt mineralised more so than graphite,” Haythorpe says.

He continues, “the rig is currently about 50 metres downhole and we’re aiming for a 200-metre total downhole depth. Because it’s such a discrete combination of EM conductor, good geology and mineralisation evident at surface, we’re very excited to be on the site drilling now.”

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