Unity Metals (ASX:UM1) has begun drilling at its flagship Ngot Gold Project in Cambodia after listing on the Australian Securities Exchange (ASX) earlier this month.
The company is conducting 50 holes of diamond drilling across an area of 8,000m, targeting a gold-in-soil anomaly associated with a 1.5km by 1km diorite intrusion.
Unity will mobilise a second drill rig in the coming weeks to assist with the campaign, which is expected to be completed in the next three months.
First assays are expected to be returned to the market in this quarter.
Managing Director Craig Mackay says Unity is focused on executing its exploration strategy following its ASX listing.
“After several years of intensive fieldwork, the company is finally able to drill numerous targets at the Ngot Project, which adjoins the southern boundary of Emerald’s Okvau Gold Mine,” Mackay says.
“These targets have never been drilled by any explorer.”
As reported by Mining.com.au, Unity recently began trading on the ASX after completing an initial public offering (IPO) of $8.66 million at $0.20 per share.
Funds from the IPO were used to conduct this drilling campaign at Ngot.
Unity Metals is a Southeast Asian junior explorer focused on gold and copper discoveries.
Write to Maddison Elliott at Mining.com.au
Images: Unity Metals
