Minerals 260 Limited has commenced a significant new drilling program across multiple high-order targets at its Moora Project and the adjacent Koojan JV, which are located ~150km north-east of Perth, Western Australia.
The drilling program will comprise up to 15,000m of Reverse Circulation (RC) and Diamond Core (DD) drilling, with holes typically 150-200m deep. The drilling has commenced with a single RC rig, with a second rig scheduled to start in December as further crops are harvested and access becomes available to more targets. Drilling will target extensions of mineralisation previously intersected at a number of prospects including: Mynt - up to 24m @ 0.7g/t Au and 1.9% Cu; Angepena - up to 43m @ 1.8g/t Au; Zest - up to 12m @ 2.0g/t Au and 1.4% Cu; Acga - up to 3m @ 0.52g/t PGE (Pd+Pt). Maiden RC drill programs will also test 22 other targets defined by geochemical and geophysical surveys. The Moora Project and Koojan JV form a contiguous, 1,000km2 land package located in the Julimar Mineral Province of south-west Western Australia. Minerals 260 holds 100% of the Moora Project and has the right to earn up to 51% equity in the Koojan JV by spending $4 million on exploration. The Company has met its minimum expenditure commitment of $500,000 for the Koojan JV and expects to acquire its initial 30% equity before the end of 2022 by spending a total of $1,500,000.