Minerals 260 Limited announced that reconnaissance drilling completed earlier this year has confirmed the potential for its 100%-owned Moora Project and adjacent Koojan JV to host significant PGE mineralisation. The Projects form a contiguous, 1,000km2 land package located ~150km north-east of Perth in the Julimar Mineral Province of SW Western Australia. At the Koojan JV, the company is in joint venture with Lachlan Star Limited and has the right to earn up to 51% equity.

In June 2022, the company completed a 17-hole/2,945m RC/diamond core drilling program over three targets: Zest - Drill-holes MRCC0042-0050, MRRD0051, MRDD0011; Angepena - Drill-holes MRRC0052-0054; Moora Gravity Anomaly (MGA) - Drill-holes MRRC0055-0057. Assays for the Zest and Angepena drill holes have been reported previously with drill statistics (including significant results) listed in Appendices 1-3. The three RC holes drilled across the MGA were reconnaissance in nature and designed to provide geological data, particularly for the margins of the anomaly, which is interpreted to be caused by a dense mafic/ultramafic intrusive body. The drill holes were sited where access was available during the winter cropping period and are in an area where there is no coincident geochemical anomalism.

All three holes intersected mafic rocks consistent with an intrusive body with the mineralisation associated with a zone of disseminated sulphides. The anomalous palladium (up to 611ppb Pd) and platinum (up to 76ppb Pt) are also coincident with elevated copper (up to 2,080ppm Cu). A follow-up exploration program comprising further drilling and down-hole geophysics will be planned to assess the significance of the latest results.

This work will be undertaken as early as possible during the next drilling program. While the latest drill results are not coincident with surface anomalism, previous geochemistry and shallow air- core drilling have defined a number of high priority PGE+Cu+Au targets in close proximity which will also be assessed as part of the upcoming drill program.