Kidman Resources Limited ("Kidman" or the "Company") is pleased to announce that drilling commenced yesterday at the company's Barrow Creek project comprising both the Home of Bullion (HOB) and Prospect D projects in the Northern Territory.
Over the previous few weeks the company has been finalising the preparation of new access tracks and drill pads at the Home of Bullion project. The drill program consists of approximately 50 holes for 5000m RC and 3000m diamond drilling and has been designed to test seven newly identified FLEM and DHEM conductors at HOB and two DHEM targets at Prospect D
This RC program has now commenced, targeting the FLEM conductor 1 immediately east of the southern lense which is co-incident with a magnetic high. The remaining six FLEM and DHEM conductors at HOB will be tested over the coming weeks and assay results will be released as available.
Once the RC program at HOB is complete the RC drill rig will move north and undertake the company's maiden drill program on Prospect D targeting previously drilled high grade zones and two untested DHEM anomalies.
Upon completion of the RC program, the company will immediately follow up with a diamond drilling program at both HOB and Prospect D targeting the deeper conductors.
Kidman Resources is well funded to undertake this 8000m drilling program with approximately
On behalf of Kidman Resources Limited
Mr Garrick Higgins
Non Executive Chairman
Kidman Resources Limited (ASX: KDR) is an Australian listed company focused on the exploration and development of its Base Metal and Rare Earths discoveries in New South Wales and the Northern Territory.
ASX Codes:
KDR - Ordinary Shares
KDRO - Listed Options
Market Cap:
$16.23m @ $0.19 per share (12/02/2013)
Projects:
Home of Bullion (100%) -Copper / Silver/ Lead/ Zinc/ Gold - Barrow Creek, NT
Crowl Creek (100%) - Copper/Silver/Gold /Lead/Zinc - Lachlan Fold Belt, Central NSW Hale River (100%) - Rare Earths - Alice Springs NT
Investment Highlights:
- 2 Drill Phases completed at Home of Bullion - multiple high grade intercepts since acquisition in May2012
- Strong untested DHEM and FLEM targets identified at Home of Bullion
- Acquired 100% Oz Minerals tenements in NSW - strong foothold in highly productive Cobar Belt
Issued Capital:
85,405,328,ordinary shares
25,598,752 listed options (20c Nov 2013)
Directors:
Garrick Higgins - Non Exec Chairman Shane Mele - Executive Director Andrew McIlwain- Non Exec Director
Company Secretaries: Justin Mouchacca Melanie Leydin
Principal Place of Business
Suite 3, Level 4
12-20 Flinders Lane
Melbourne VIC 3000
Phone: 61 3 9671 3801
Fax: +61 3 9671 2347
email: info@kidmanresources.com.au
Web: www.kidmanresources.com.au
distributed by |