First Development Resources plc has drilled the “most technically difficult phase” in the first drill hole at the Wallal gold-copper project in Paterson Province, Western Australia.
PROJECTS
The explorer, currently 44.34% owned by Power Metal Resources plc, is targeting the 2.5km by 2.5km eastern magnetic bullseye anomaly, which one of three on the acreage.
The company and operations partner DDH1 Drilling Ltd overcame “several technical challenges” to drill through the Wallal Sandstone formation, which forms a major part of the “sedimentary cover sequence”.
“Drilling operations have now transitioned to coring which is progressing well,” said FDR.
“The hole is now advancing towards the basement geology which is interpreted to host the magnetic bullseye target.”
FDR’s two other Paterson copper-gold assets are Ripon Hills and the smaller Braeside West project.
The company additionally owns three licences covering a total of nearly 1,600km2 at the rare earth element-uranium project in Selta, Northern Territory.
Power Metal initially acquired an 83.33% interest in FDR towards the end of 2021.