THE DRILL SERGEANT: Alloy Resources (ASX: AYR) reported on recent progress at the company’s farm-in agreement with Rio Tinto Exploration Pty Limited (RTX), under which RTX is earning an initial 70 per cent interest in E45/4807 in the Paterson Province of Western Australia.
Alloy Resources informed the market that RTX has completed earthworks for the camp site, a major portion of the access tracks and seven of eight drill pads for a proposed initial reverse circulation (RC) drilling program.
The company indicated the drilling program is now expected to be undertaken in April-May 2020, subject to weather and the scheduling of RTX’s broader Paterson program activities and related drill rig movements.
“As previously announced, the drilling program is planned to comprise a minimum of eight reverse circulation (RC) drill holes of up to 250 metres depth across six copper-gold target areas, with further holes to possibly be drilled subject to results,” Alloy Resources said in its ASX announcement.
“This initial testing is intended to guide follow up exploration and improve target generation by confirming basement depths and lithologies.
“The depth of cover for the initial targets is currently estimated to be 30 to 100 metres.”
RTX are actively exploring the Paterson region following its discovery of the Winu copper-gold deposit located 50 kilometres north of the Joint Venture.
RTX holds extensive exploration tenure, which adjoins with the JV tenement and extends to Winu.