Drake and Panoramic start drilling at Nordgruva

THE DRILL SERGEANT: Drake Resources (ASX: DRK), in league with its Joint Venture partner Panoramic Resources (ASX: PAN), has commenced diamond drilling and down hole geophysics at the Nordgruva copper zinc prospect.

The prospect is part of the JV’s Nordgruva project, located in central Norway.

 

Drake has a number of assets prospective for copper, nickel, gold
and iron across the Nordic region. Source: Company announcement

 

Panoramic Resources has advised a single diamond drill hole to a depth of approximately 600 metres will target one of five targets, which were identified from a detailed airborne electromagnetic (VTEM) survey flown by Drake in 2012.

The JV considers these targets to have a similar geophysical signature to high-grade historic copper mines in the district.

The Nordgruva project is part of the Røros mining district in central Norway, which Drake explained has a copper/zinc mining history extending back over 300 years from multiple sites.

“The planned hole is targeting one of the most extensive modelled plates near Kongens with dimensions in the order of 1500 metres by 750 metres,” Drake Resources said in its ASX announcement.

“The target is interpreted to be in the stratigraphic position of the main mineralisation in this well-endowed, historical copper mining district.
 
“Results are expected in November.”