Constellation Resources Limited announced that the Company has completed both a detailed high-resolution airborne magnetic survey and a semi-regional gravity survey over tenements E28/2403 in the Fraser Range. The processing and interpretation of these surveys has led to the identification of ten high priority drill targets across the tenements, on which the Company intends to commence an air-core drilling program in the next quarter. The completion of these initial geophysical programs represents the early stages of a systematic exploration approach to target nickel sulphides across the Company's northern landholdings. The datasets obtained from the surveys will assist in identifying the presence of potential mafic intrusions (host of nickel-copper-cobalt mineralisation in the Fraser Range) that may be concealed under cover. Geophysical datasets from both the detailed high-resolution airborne magnetic survey and semi-regional gravity survey over tenements E28/2403 and E28/2738 have now been processed and interpreted by Peter Muccilli of Unearthed Geological Consulting and Russell Mortimer of Southern Geoscience Consultants. The processing and interpretation of the datasets has led to the identification of ten high priority drill targets across the two tenements. Each target has been identified as a potential mafic intrusion that is concealed under cover and exhibits a circular or ellipsoidal morphology that appears to warp the older stratigraphy around it. In addition, there are correlating gravity highs that could indicate more mafic-ultramafic (denser) compositions. The Company's exploration focus is now on progressively air-core drill testing the selected targets. The initial drilling program will test the targets located north of the Trans-line Railway. Drill hole positioning will be optimised by localised 3D inversion modelling of the magnetic/gravity data and joint compilation of the inversion outcomes. The key aim of the drilling program is to confirm the presence of mafic intrusions, in particular, the intrusions with favourable litho-geochemical characteristics. If the drill program is successful in confirming a prospective intrusion, more detailed geophysical and drill programs will be undertaken, to determine if there are any economic concentrations of nickel sulphides hosted within the intrusion. The Company is in the process of selecting an appropriate drilling contractor and obtaining all necessary government approvals.