Arunta Resources kicks off Hatches Creek tungsten exploration

THE DRILL SERGEANT: Arunta Resources (ASX: AJR) has signalled the commencement of a program of field-based exploration activities at the company’s 100 per cent-owned Hatches Creek tungsten project.

Hatches Creek is located 360 kilometres north-east of Alice Springs in the Davenport Mineral Province of the Northern Territory and encompasses the historical Hatches Creek tungsten field, which formed part of the Northern Territory mineral portfolio Arunta acquired last year.

 

Hatches Creek location map. Source: Company announcement

 

The company has reassessed and upgraded its confidence in the potential of Hatches Creek due to recent upswings in the tungsten market – with concentrates currently in strong demand and attracting historically high prices.

Arunta has indicated it intends to fast-track exploration activities at Hatches Creek with a view to establishing a JORC 2012 compliant resource in the near-term while investigating opportunities to bring the project into production next year.

The company has reviewed an extensive bank of historical data for the project and has an eye on opportunities emerging in the tungsten sector.

“Because it has been mined extensively last century, there is a vast amount of information available which will enable Arunta to fast-track the project towards a JORC resource and possible development,” Arunta Resources chairman Neil Biddle said in the company’s announcement to the Australian Securities Exchange.

“With extensive high-grade mineralisation located close to surface, a project such as this could be brought back into production quickly and with very low capital outlay.

“That makes it an attractive asset for Arunta, which we intend to progress as quickly as possible alongside the Southern Cross Bore (SXB) project – where we have recently completed an extensive airborne EM survey for which final results are awaited.

“With the current equity market environment presenting significant challenges for junior explorers, we believe it is important to progress projects with greater potential for near-term production and cash flow – without diminishing our appetite and enthusiasm for exciting exploration opportunities such as we have at the SXB project.”

Email:
info@aruntaresources.com.au

Website:
www.aruntaresources.com.au