Minerals 260 Limited Announces Major Drilling Campaign Underway At Moora and Koojan
The drilling program will comprise up to 15,000m of Reverse Circulation (RC) and Diamond Core (DD) drilling, with holes typically 150-200m deep. The drilling has commenced with a single RC rig, with a second rig scheduled to start in December as further crops are harvested and access becomes available to more targets. Drilling will target extensions of mineralisation previously intersected at a number of prospects including: Mynt - up to 24m @ 0.7g/t Au and 1.9% Cu; Angepena - up to 43m @ 1.8g/t Au; Zest - up to 12m @ 2.0g/t Au and 1.4% Cu; Acga - up to 3m @ 0.52g/t PGE (Pd+Pt). Maiden RC drill programs will also test 22 other targets defined by geochemical and geophysical surveys. The Moora Project and Koojan JV form a contiguous, 1,000km2 land package located in the Julimar Mineral Province of south-west Western Australia. Minerals 260 holds 100% of the Moora Project and has the right to earn up to 51% equity in the Koojan JV by spending $4 million on exploration. The Company has met its minimum expenditure commitment of $500,000 for the Koojan JV and expects to acquire its initial 30% equity before the end of 2022 by spending a total of $1,500,000.