Highlights
- Shree Minerals’ shares gained 28.57% in the morning hours on 11 November 2022.
- The company has announced plans for aircore drilling in the southern portion of the tenement E63/2046.
- The drilling campaign at the Dundas project aims to test the identified gold anomalies and lithium pegmatite potential.
- SHH is likely to commence drilling in November 2022.
Shree Minerals (ASX:SHH) shares gained over 28% and traded at AU$0.009 in the morning hours on 11 November 2022 after the company announced plans for aircore drilling at the Dundas Project.
As per the latest announcement, the drilling campaign will focus on the identified lithium pegmatite potential and gold anomalies in the southern portion of the tenement E63/2046, covering 98 holes for ~5,000m to 6,000m.
Defined pathway for aircore drilling at Dundas project
Shree has finalised a contract with Gyro Drilling for aircore drilling in the southern portion of the tenement E63/2046.
Heritage survey clearance report as well as Program of Work (POW) approval has been received. It is most likely that the drilling program will be initiated this month.
As of now, the company has announced that the heritage survey by NNTAC is expected to take place at E63/2048 during the third week of November 2022.
The development would pay the way forward for plans for in-fill of the historical 1km spaced soil sample traverses in E63/2048 with a powered auger. The program will target at delineating targets for rotary air blast (RAB) and reverse circulation (RC) drilling.
Data source: SHH update
Lithium-in-pegmatite deposits are spatially related to these mineralised structures to the north of the company’s tenure. Historical drill logs proximal to these structures within E63/2046 have delivered pegmatites.
Also, mapping detected historical drill hole spoils comprising pegmatite chips. Historical drilling intersections up to 3 grams per tonne of gold are still open and the related soil geochemistry highlights highly extensive mineralisation as compared to the indications by drilling.