- Shree Minerals (SHH) completes reverse circulation (RC) drilling at the Rock Lodge project, within the Lachlan Fold Belt project in NSW
- A total of 15 RC holes were drilled to test coincident induced polarisation and gold arsenic bismuth soil anomalies
- The current drilling program suffered setbacks after being suspended, following breaches under the Mining Act and the National Parks & Wildlife Act
- Shree is working to settle the issues and, once resolved, will begin drilling two deeper diamond holes and commence downhole electromagnetic surveys
- Shares in Shree are down 6.67 per cent, trading at 1.4 cents
Shree Minerals (SHH) has completed reverse circulation (RC) drilling at the Rock Lodge project within the Lachlan Fold Belt project in NSW.
A total of 15 RC holes for 869 metres were drilled to test coincident induced polarisation (IP) chargeability and gold arsenic bismuth soil anomalies.
Two pre-collar holes were also drilled for planned deeper diamond drilling.
Samples have been sent to the laboratory in Orange for analysis and the results will be compiled once the assays have been received.
Due to the continuing unprecedented rainfall in the area, drilling at Rock Lodge was impacted, causing significant disruptions to the planned timeline of activities.
Supply chains were also impacted due to COVID-19, resulting in significant drilling breaks while personnel were replaced.
Furthermore, the current drilling program has now been suspended following notices issued by the Resources Regulator within the Department of Regional NSW.
The notices included a number of breaches under section 23A (7) of the Mining Act 1992 and potential breaches of the National Parks & Wildlife Act 1974.
Shree is working with the department to resolve the issues and, once settled, will begin drilling its two planned diamond drill holes, along with downhole electromagnetic surveys.
The diamond drilling will focus on the projected down-dip extensions to the sulphide mineralisation while the surveys will search for off-hole conductors.
Shares in Shree were down 6.67 per cent and were trading at 1.4 cents at 10:41 am AEST.