- Critical Resources (CRR) receives tick of approval to begin drilling at the Gibson prospect located on the Halls Peak tenement in New South Wales
- The diamond drill program is set to begin on November 22 and has been based on data from previous exploration which identified grades of zinc, lead, copper, silver and gold
- Contractor DRC Drilling has begun mobilising to site and will begin drilling holes to a maximum depth of 500 metres
- The company says it is excited to start exploring the potential of Gibsons and the broader Halls Peak system
- Shares in Critical Resources finished trading on Friday up 2.17 per cent to 4.7 cents per share
Critical Resources (CRR) has received the tick of approval to begin drilling at the Gibson prospect located within its Halls Peak tenement in New South Wales.
The diamond drilling program is set to begin on November 22 and is based on previous exploration work, which Critical said identified high grade massive sulphides containing zinc, lead, copper, silver and gold.
Exploration targets were defined following reviews of historic geological and geophysical data.
In particular, the company notes an historic intersection in 2014 that included 37.2 metres at 8.7 per cent zinc, 3 per cent lead, 85 grams per tonne gold and 1.4 per cent copper.
Contractor DRC Drilling has started mobilisation to site and will begin drilling holes to a maximum depth of 500 metres.
Critical plans to conduct electro-magnetic surveys on the deeper holes to identify further
extensions of mineralisation at depth and to aid plans for future drilling.
With the contractors gearing up to start the work, Managing Director Alex Biggs said this is “fantastic” news for the company and its shareholders.
“Our team has remained committed and focussed to ensure appropriate approvals have been awarded and this now gives us the opportunity to finally explore the potential of Gibsons and the broader Halls Peak system,” Mr Biggs said.
“We see this next period in the company’s growth as being potentially transformational and look forward to updating the market with results in due course.”
Shares in Critical Resources finished trading on Friday up 2.17 per cent to 4.7 cents per share.