Alloy Resources has kick-started a RC drilling program at the Ophara Project located 50km west of Broken Hill in New South Wales.
The junior miner said the 12-hole RC drill program was designed to define the strike and depth potential of the known cobalt-gold mineralisation at the advanced Great Goulburn prospect located within the Ophara project.
“The cobalt-gold mineralisation is know from limited previous drilling to be closely associated with magnetite and pyrite at depth and drilling will aim to confirm and define this relationship,” Alloy told the ASX.
“Both magnetic and electromagnetic anomalies associated with cobalt-gold mineralisation have been defined by previous ground surveys.”
According to the company, the program is expected to be completed in 8 days, with results of sample analysis to be available within 3 to 4 weeks.
“Holes will be surveyed by down hole geophysical methods which will provide information that can guide future regional expansion,” reads the ASX statement.