Stelar Metals (ASX:SLB) has lodged an application to undertake assessable prospecting operations (APO) with the New South Wales Resources Regulator for its inaugural drilling program at the Trident Lithium Project.
The $16.52 million market capitalisation company says the drilling application is for up to 19 reverse circulation (RC) drillholes of up to 150m depth, within the area including the Trident, Sceptre, Lady Don, and Triumph prospects.
Drilling of a nominal 3,000m is designed to be flexible to allow an initial assessment of the orientation and morphology of the known lithium mineralised pegmatites.
Drilling will target under the known shallow workings below the oxide-zone, which will provide an opportunity to better assess the lithium mineral zoning in the Trident pegmatite system and test for the presence of spodumene.
Drilling approval is expected within 2 months. The company is also working towards finalising the drilling contract for the upcoming program shortly.
Stelar has engaged Hughes Mining Services and Orthosa Mineral Exploration Services to support and coordinate the APO drilling application submission to the New South Wales Resources Regulator.
The company has also engaged with the traditional custodians and pastoral lease holders over previous months and is planning cultural heritage clearances to be conducted in the coming weeks, while the drill application progresses through the New South Wales Government approval process.
Stelar Metals is a critical mineral explorer, focused on lithium, copper, zinc, and cobalt. The company has 5 projects located in South Australia, alongside 3 projects in New South Wales.
As of 30 June 2023, the company had $3.433 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Stelar Metals
