Todd River Resources (ASX:TRT) has kicked off a reverse circulation (RC) drilling campaign at the Mt Hardy Copper-Zinc Project in the Northern Territory.
The $5.86 million market capitalisation company says the drilling aims to test ‘strong’ continuous copper-lead-zinc anomalies over extensive strike lengths at multiple prospects.
Commenting on the drilling work, Todd River Resources Managing Director Will Dix says: “It’s great to have the rig on site at last at Mt Hardy after several years of hiatus. We’re excited to get back on the ground with a refreshed approach and are keen to test the new targets we have identified through both extensive systematic soil sampling and targeted rock chip sampling.
“Our belief remains that there are multiple zones of mineralisation to be identified both in close proximity to the existing resource at Hendrix and also in new areas“
Our belief remains that there are multiple zones of mineralisation to be identified both in close proximity to the existing resource at Hendrix and also in new areas, and we look forward to building an extensive mineral inventory at Mt Hardy.”
Todd River’s share price increased by 22.22% to close at $0.011 on Monday afternoon (28 August).
Drilling is expected to take 4 to 5 weeks to complete, with 60% of the drilling comprising RC drilling and the remainder to be reconnaissance aircore drilling over areas that are undercover in the north of the project area.
The company notes that none of the new areas have been drilled at this point and all reflect opportunities at the Mt Hardy Project.
Todd River Resources is an Australia-based resources company that holds base and precious metals projects covering more than 7,500km-square. As of 30 June 2023, the company had $2.67 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Todd River Resources
