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Highlights
- Ark Mines has completed Phase 1 drill program at Sandy Mitchell with 144 holes drilled across 1,505m and average depth of 10.5m.
- The samples collected from the drilled holes have been submitted for assaying at a third-party laboratory.
- The Maiden Mineral Resource Estimate will be measured as per the 2012 JORC code on the basis of the phase 1 results.
- AHK plans to conduct the next phase of drilling around extension of the maiden resource generated from the assays of this drill program.
Australian mineral exploration company Ark Mines Ltd (ASX: AHK) has concluded Phase 1 drill campaign at its 100%-owned Sandy Mitchell project in North Queensland. The drill program was designed to test the presence of rare earths (REE) and heavy minerals over 1,505m in 144 holes with average depth of 10.5.
The campaign was conducted in the general area where the Japan Organization for Metals and Energy Security focused its activities in 2010, as well as in new areas which were not drilled previously. The entire region covered under the drill program is prospective for REE and heavy minerals, says the company.
AHK is looking forward to hold the next phase of drilling around extension of the maiden resource generated from the phase 1 results.
AHK stock rise by over 12%
The company’s stock witnessed an increase of more than 12% post the ASX announcement. Its shares were trading at AU$0.315 at the time of writing on 14 June 2023, with a market cap of AU$12.49 million.