Core Exploration has announced it will begin its diamond drilling program on the Yorke Peninsula minerals project in South Australia with the arrival of two diamond drill rigs at the site.

 

Core’s Managing Director, Stephen Biggins, said the commencment of the program followed extensive lead-up exploration work on the Yorke Peninsula project since the company listed on the Australian Securities Exchange 12 months ago.

 

The diamond drilling program comprises a total of 2000-2500 metres of drillingh, with holes to drill in excess of 100m into the basement target rocks.

 

“Our substantial set of six drill targets are coincident with the 12km long Palace structural zone within the company’s Yorke Pensinsula tenement. The sieable gravity feature have an inconsistent magnetic character which fits well with Core’s interpretation of these drill targets as structurally controlled, dense, IOCG (Iron Oxide Copper Gold) alteration with fluctuating magnetite and hematite content.”

 

Core’s large-scale gravity and magnetic drill targets are hosted in an analogous geological setting to Rex Minerals’ Hillside Project(inferred and indicated resource of 217Mt at 0.7$ copper and ).2%g/t gold) on the adjacent tenement.

 

Mr Biggins said that drilling will take approximately one month to complete, with first assay results expected to be reported in April.

 

“Our geologists will be looking at the new drill core for the same style of mineralisation and alteration as seen nearby at Rex’s Hillside discovery.”