Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Shree Minerals is set to commence drilling at its Golden Chimney prospect following auger sampling
  • The company intends to survey over 1 500 prospective square metres, targeting anomalies found to the east and west of the project
  • Shree will kick off a fortnight-long drilling program in the coming weeks, with results expected six weeks after the scheme concludes
  • Shares in Shree stayed steady following news of the next exploration phase, trading for half a cent each on the ASX

Shree Minerals is set to commence drilling at its lucrative Golden Chimney prospect following positive auger sampling.

As a result of a promising first exploration phase, Shree has acquired a drilling licence for the Golden Chimney tenement. The company intends to survey over 1 500 prospective square metres, targeting anomalies found to the east and west of the project.

Shree’s previous fieldwork uncovered outstanding gold, silver and bismuth anomalies in the prospect’s west, while to the east, previously undiscovered old gold and arsenic workings were also found.

The company’s new exploration drilling phase follows hot on the heels of its auger sampling and fieldwork program, completed in August this year.

Situated just 40 kilometres south of the mining shire of Leonora, the WA-based Golden Chimney project spans 65.4 square kilometres of prospective mineral territory.

The project is in close proximity to some of the goldfield’s highly prospective mines, such as the Sons of Gwalia, King of the Hills, Tower Hill and Ulysses tenements.

Shree will kick off a fortnight-long drilling program in the coming weeks, with results expected six weeks after the scheme concludes.

The Aussie exploration company explores mineral tenements across the country and is currently focussed on developing a portfolio of prospects in Tasmania. While prospecting for gold is a major focus at the WA tenements, Shree is also dedicated to developing iron and coal reserves along Australia’s east coast.

Shares in Shree stayed steady following news of the new drilling phase, currently trading for half a cent each on the ASX.

SHH by the numbers
More From The Market Herald
Cobalt Blue Holdings (ASX:COB) - CEO, Joe Kaderavek

" Cobalt Blue (ASX:COB) ends Q1 cashed up & focused on Broken Hill

Cobalt Blue (COB) closed out the September quarter with additional cash in the bank as it continues to advance its Broken Hill Cobalt

" Macarthur Minerals (ASX:MIO) completes geotechnical drilling at Lake Giles

Macarthur Minerals (MIO) has completed the geotechnical drilling program at its Lake Giles Iron Project in Western Australia.
Ionic Rare Earths (ASX:IXR) - Chairman, Trevor Benson

" Ionic Rare Earths (ASX:IXR) expands Makuutu project with new exploration license

Ionic Rare Earths (IXR) is ramping up its presence in Uganda, having secured a new exploration license to the northwest of its Makuutu
SI6 Metals (ASX:SI6) - Executive Chairman, Patrick Holywell

" Si6 Metals (ASX:SI6) completes maiden drill program at Monument

Si6 Metals (SI6) has rounded off its maiden air core drilling program at the Monument Gold Project within the Laverton Gold District in