Dundas Minerals Limited announced that a four hole reverse circulation (RC) drilling program at its Matilda South prospect has now been completed. A total of 1,381 metres was drilled, with the deepest hole (23MSRC002a) to a final depth of 425 metres. Samples from the first two drill holes of the program have been submitted to the Intertek Genalysis laboratory in Perth, Western Australia for assay.

Samples from the third and fourth holes are expected to be submitted for assay early next week. The turn-around time for assay results is typically four to five weeks from submission. The Matilda South exploration target consists of a large gravity anomaly (interpreted as a mafic intrusion), with magnetic anomalies marginal to the interpreted intrusion.

Visual inspection of drill chips returned from the drilling program confirm predicted geophysical models, with logged intercepts of mafic rock types. The extent of any mineralisation will be determined from assay results. The Matilda South drilling program is 50% co-funded by the Western Australian Government to a maximum of $180,000, under its Exploration Incentive Scheme (EIS), Round 25.

Rare Earth Elements (REEs): In addition to assaying for the targeted elements of nickel, copper and gold, samples from the Matilda South drilling program will also be assayed for rare earth elements (REEs). Various ASX listed companies that hold tenements surrounding Dundas Minerals have recently announced the completion of successful REE exploration programs. The geology of the Matilda South area is similar to surrounding tenements. Dundas' Matilda South samples will be the first ever from the area to be assayed for REEs because samples from historic air-core drilling (2006) were not assayed for these elements, as at the time REE prospectivity was likely not considered.