Minerals 260 Limited announced that it has commenced a drilling program to follow up on recent exploration success at its 100%-owned Moora Project, located 150km north-east of Perth in Western Australia. The drilling program, comprising up to 20 Reverse Circulation (RC) drill holes for 3,000m, will follow up on previously reported intersections from the Zest prospect (up to 12m @ 1.4% Cu and 2g/t Au from 72 - 84m) and Angepena (up to 43m @ 1.8g/t Au from 198 - 241m). Drilling will also be completed at a new target located in the south-eastern corner of the Project where a review of shallow air-core drill data has identified highly anomalous copper (up to 0.27%) and PGEs (up to 0.2g/t) hosted by a strongly weathered mafic/ultramafic sequence.

The copper values are similar to those recorded from initial shallow air-core drilling across the Zest prospect which were subsequently targeted by deeper RC drilling resulting in the significant results reported this year. The drilling, which will take 2-3 weeks to complete, will be undertaken on the edge of paddocks where it will have a minimal impact on recently planted crops. Initial assays are expected in August 2022.

The company also has landowner clearance to drill the Mallory prospect, located on the Koojan JV, which is defined by coincident geochemical (gold-copper-PGE) and geophysical anomalism; however, this is dependent on receipt of government permitting, which is pending. Numerous other high-priority targets remain to be followed up and planning is in progress for further drilling later in the year after the crops have been harvested. In addition, assays are pending for approximately 6,000 in-fill and first- pass geochemical samples which are expected to define further targets for drill testing later this year.

The Moora Project forms part of a large (1,000km2) land package, which also includes the adjacent Koojan JV, located in the Julimar Mineral Province of south-west Western Australia. Minerals 260 has the right to earn up to 51% equity in the Koojan JV by spending $4 million on exploration and has met its minimum expenditure commitment of $500,000. The company is now progressing towards its next key milestone of spending $1.5 million to acquire an initial 30% in the Koojan JV Project.