Join our daily newsletter At The Bell to receive exclusive market insights
- Petratherm (PTR) has begun shallow rotary airblast (RAB) drilling at its Comet Gold Project in South Australia
- All up, 800 shallow RAB holes will be completed to drill through the cover sequence and test the top of the weathered basement for gold and base-metal elements
- Drilling will also aim to explore for new gold occurrences close to Comet which extend into surrounding areas
- Work is expected to be completed by the end of April with results expected shortly after
- Once completed, Petratherm will undertake follow up bedrock drilling on prospective areas identified in the RAB drilling
- Petratherm has ended the day 3.33 per cent in the green with shares trading at 14.5 cents
Petratherm (PTR) has begun shallow rotary airblast (RAB) drilling at its Comet Gold Project in South Australia.
Comet is situated 80 kilometres southwest of Coober Pedy and lies within the Gawler Craton which hosts significant gold occurrences.
All up, 800 shallow RAB holes, for 8000 metres, will be completed to drill through the cover sequence and test the top of the weathered basement for gold, base-metals and pathfinder elements.
Drilling will also aim to explore for new gold occurrences close to Comet which extend into surrounding areas.
Other projects in the Gawler Craton are known to have anomalous gold zones at the top of the transported cover sequence.
This could mark a potential high-grade discovery for Petratherm at Comet.
Drilling is expected to be completed by the end of April and results are expected shortly after.
Petratherm will then undertake follow up bedrock drilling on prospective areas identified in the RAB drilling.
Petratherm has ended the day 3.33 per cent in the green with shares trading at 14.5 cents in a $28.41 million market cap.
