Total
0
Shares
Drilling at Target 14 Gold Prospect. Source: PTR.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Pertatherm (PTR) has started prospect drilling at the Comet Gold Project in South Australia
  • Specifically, PTR has commenced air-core and hammer drilling at Comet and Target 14 Gold Prospects
  • The initial round of drilling includes 2400 metres of coverage and should take approximately 10 days to complete
  • A second drill rig has also been conducting shallow rotary air blast drilling, exploring and identifying new gold anomalies
  • Petratherm shares ended the day down 6 per cent, selling at 4.7 cents a share

Pertatherm (PTR) has started prospect drilling at the Comet Gold Project in South Australia.

Specifically, PTR has commenced air-core and hammer drilling at Comet and Target 14 Gold Prospects.

The initial round of drilling includes 2400 metres of coverage and should take approximately 10 days to complete.

Target 14 Gold has a significant gold anomaly, having returned up to 305 parts per billion of gold above the fresh rock, though its yet to be drilled further.

The Target 14 Prospect was discovered in 2002 by Redport during a traverse drilling program over a shear structure that was interpreted from the regional aeromagnetic data.

Meanwhile, historic drilling at Comet was conducted in the late 1990s by Minotaur Resources where limited reverse circulation drilling identified a continuous zone of gold intersections over 150 metres length.

Best results from the historical series include intercepts of up to 6.97 grams per tonne of gold for the 150-metre trend.

Finally, PTR said a second drill rig has been conducting shallow rotary air blast drill exploring and identifying new gold anomalies at the site, with the rig active since late November.

Petratherm shares ended the day down 6 per cent and were selling at 4.7 cents a share.

PTR by the numbers
More From The Market Herald
Siren Gold (ASX:SNG) - Chairman, Brian Rodan

" Siren Gold (ASX:SNG) to begin scoping study at NZ gold projects

Siren Gold (ASX:SNG) will undertake a scoping study for underground development at its Big River and…

" Mad Paws (ASX:MPA) reports 199pc growth December-quarter revenue

Pet services marketplace Mad Paws (ASX:MPA) has reported operating revenue for the December quarter of $2…

" Vanadium Resources (ASX:VR8) increases stake in Steelpoortdrift Project

Vanadium Resources (A:VR8) increased its interest to 73.95 per cent in the Tier 1 Steelpoortdrift Vanadium…

" Stanmore (ASX:SMR) awards EPSA Pacific $564m open-cut mining contract

Stanmore Resources (ASX:SMR) has awarded EPSA Pacific a $564 million mining contract at its Isaac Downs…