Hi Ho, Hi Ho, it’s off to work we go
THE DRILL SERGEANT: Each week any number of junior exploration plays set out to drill their ground. Here’s a small selection of what’s been happening this week.
Drilling to commence at Alumbre project
Promesa Ltd (ASX: PRA) has received formal ratification from the Peruvian Ministry of Energy and Mines (MEM) it can proceed with drilling activities at the Alumbre project.
There had been a delay in responding to the application to commence drilling activities, which Promesa explained was due to a review of the public record relating to Government land holdings in the area.
“The company is pleased…that we can finally drill this promising prospect,” Promesa technical director Michael Sebbag said.
“The DIA and the MEM’s acceptance of its Commencement of Works notification means we can start Phase 1 of the drilling program at Alumbre.
“The potential for the Alumbre prospect to prove up to be a world class deposit is indeed an exciting time.”
The Alumbre project is a gold-copper-molybdenum porphyry system located southeast of Trujillo in northern Peru.
Final drill permitting lodged Kimsa Orcco, Peru
Laconia Resources (ASX: LCR) has initiated the final drill permitting process and lodged all required documentation to seek formal approval to drill from the Peruvian regulator, the Ministry of Energy and Mines (MINEM).
Drill approval is expected after a 30 day statutory review period. This review period has now commenced.
This follows agreement with the community of Tintay to execute an access and infrastructure agreement with Laconia.
The Tintay community is the third of three community groups Laconia has had to consult in order to gain social licence within the immediate area of impact of its 100 per cent-owned Kimsa Orcco project and the contiguous Huaco Cucho concessions, over which Laconia has an option to earn an 80 per cent indirect interest.
These projects and concessions collectively cover over 8,387 hectares of highly prospective geology in the Peruvian Andes.
Drilling commences at Ilo Norte copper-gold target
Latin Resources (ASX: LRS) has commenced drilling at the company’s Ilo Norte project in accordance with the recently-announced 70 per cent earn-in option contract.
The holes now underway are the first of 12 holes totalling 10,000 metres that are required to be completed within 18 months as part of the earn-in conditions.
Under the agreement Latin geologists are able to access the drilling sites and log drill core, and assay data will be provided to Latin as it becomes available.
Drill core inspected following the commencement of drilling intersected a volcano-sedimentary sequence displaying strata-form iron oxides formed from the weathering of sulphides.
This kind of mineralisation is consistent with Latin’s geological model and was expected to be intersected.
“We are extremely pleased that drilling has commenced so quickly following signing of the definitive earn-in option and assignment agreement over Ilo Norte,” Latin Resources managing director Chris Gale said.
“We are also very pleased that two rigs have been allocated to the project, increasing confidence in the timely realisation of work commitments on the project and ultimately more rapid testing of this fantastic copper-gold target.
“That signs of mineralisation in line with Latin’s geological model have been encountered so early in the program is also very encouraging.”
Rain causes Morille drilling postponement
Plymouth Minerals (ASX: PLH) has had to postpone a planned exploration program at the company’s Morille tungsten-tin project in Spain.
Plymouth had originally announced drilling activity was planned to commence in February 2014, however due to unseasonal heavy rains and poor ground conditions, this program has been postponed.
Based on recent weather forecasts the company said it anticipates it to commence in late March 2014.
The adverse weather conditions have afflicted Northern Spain and are related to the same series of low pressure systems which have resulted in extensive rainfall and recent flooding in southern England.