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Duke Exploration (ASX:DEX) - Managing Director, Philip Condon
Managing Director, Philip Condon
Source: Philip Condon/LinkedIn
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  • Duke Exploration (DEX) receives the final results from the phase two drilling program at the Mt Flora Prospect in Queensland
  • This phase two drilling was undertaken to deliver sufficient assay results to estimate a maiden JORC 2012 inferred resource
  • Results have been received from the final 22 holes with grades peaking at 5.49 per cent copper, 60.15 grams per tonne (g/t) of silver and 0.17g/t gold
  • Duke will now undertake soil sampling to prioritise resource development work and exploration diamond drilling to collect geological data
  • Duke ends the day in the grey with shares trading at 27 cents

Duke Exploration (DEX) has received the final results from the phase two drilling program at the Mt Flora Prospect.

Mt Flora is situated within the Bundarra Project which lies 130 kilometres southwest of Mackay in Central Queensland.

This phase two drilling was undertaken to deliver sufficient assay results to estimate a maiden JORC 2012 inferred resource.

These new results come from the last 22 reverse circulation (RC) holes, for 7659 metres, with a total of 109 holes, for 20,101 metres, drilled.

Best new results include two metres at 5.49 per cent copper, 60.15 grams of silver per tonne (g/t) and 0.17g/t gold from 206 metres; and nine metres at 1.28 per cent copper, 22.07g/t silver and 0.02g/t gold from 259 metres.

Managing Director Philip Condon is encouraged with the new results received.

“The assay results from the last holes from the phase two drilling are very encouraging and are among the best results from the ore body at Mt Flora,” Mr Condon said.

“The ore body is still open to the north, with mineralisation intersected from the surface 300 metres north of the current resource area at Mt Flora. This increases our confidence that the resource at Mt Flora will continue to grow

“We can now start detailed metallurgy test work, with results expected in the next quarter.”

Duke will now undertake portable x-ray fluorescent soil sampling to prioritise resource development work and exploration diamond drilling to collect geological data.

Duke has ended the day in the grey with shares trading at 27 cents in a $28.46 million market cap.

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