Nelson Resources (ASX:NES) is preparing to conduct an aircore drilling program at the wholly owned Fortnum Gold Project in Western Australia.
The $3.68 million market capitalisation company says the program will comprise of 3,000m of aircore drilling to test anomalous gold in the basement intersected by previous explorers.
Drilling is anticipated to take 2 weeks, with results expected in October.
Previous work at the project includes surface sampling and drilling programs that date back to the 1980s. The initial work completed in the early 1990s identified a gold-in-soil anomaly across the central-north of what is now the company’s Fortnum Project.
These surface soil anomalies were drilled with RAB drilling up to the mid-1990’s and a number of anomalous intersections were returned.
Historical RAB and aircore drilling results at the project include FRB3032 with 3m @ 2.43g/t Au from 2m and 5m @ 4.71g/t Au from 35m; and drillhole FRB1068 with 2m @ 5.31g/t Au from 2m.
This work follows an agreement with the traditional owners of the land and pegging of the drill program under the supervision of monitors from the native title claimants group.
Nelson is also reviewing a number of new project opportunities in Australia and overseas, which will complement existing projects.
The Fortnum Project comprises 2 exploration licences and is entirely covered by a single native title claim by the Jidi Jidi people.
Nelson Resources is an ASX-listed gold explorer, with a portfolio of 1,641km-square of gold projects in Western Australia. As of 30 June 2023, the company had $897,000 cash and cash equivalents at hand and no debt, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Nelson Resources
