Heavy Minerals Limited announce that drilling has commenced at its' 100% owned Port Gregory Project. Specialist Mineral Sands Driller, Bostech Drilling has commenced drilling on the 130 hole ~4600 metre Air Core program that has been designed to improve the classification of the existing JORC Mineral Resource prior to commencing a pre-feasibility study and to also potentially increase the total resource based on extension drilling
to the east, north and south. The Company anticipates receiving initial assay results in December 2022 with the bulk of the assay results being received in February 2023. The Company anticipates delivering a resource update in March 2023. The Company has diligently cleared 16km of access tracks and 130 pads for the pending drill campaign. The Company plans to commence its maiden 1400 metre Air Core drilling program at the Red Hill Project Site after completing its drilling at Port Gregory (scheduled for late December /early January). Assay results for the Red Hill Program are anticipated to be received in March 2023 with a potential resource being released in quarter 2 CY2023 pending positive results. Timing for release of results for both drilling programs are subject to laboratory throughput capabilities and HVY interpretation and compilation.