Padbury Mining Limited (ASX:PDY) Commences Preparatory Work for Drilling at Telecom Hill
Perth, Australia (ABN Newswire) - Padbury Mining Limited (ASX:PDY) and joint venture partner Aurium Resources Limited (ASX:AGU) are pleased to announce preparatory works have commenced at Telecom Hill in readiness for its A$5.5 million drilling program, which will commence later this month.
Track access works are underway to facilitate the extensive RC and diamond drilling programs.
'This is an exciting time for the JV partners as we aim to prove up a Direct Shipping Ore (DSO) source at Telecom Hill,' Padbury Managing Director Gary Stokes said.
'We are now on track to start the largest drilling program in the JV partner?s short Mid-West iron ore exploration history.'
This drilling program aims to further increase and upgrade the already defined JORC compliant inferred resource of 850Mt @ 27.3% Fe with the first priority within the program to be aimed at a DSO exploration target of 10-55Mt at 55-58% Fe.
The JV Partners will provide fortnightly updates on progress once the drilling has commenced.
About Padbury Mining Limited:
Padbury Mining Limited (ASX:PDY) is a Perth-based, ASX-listed mineral exploration company focused on the development of its significant iron ore assets in Western Australia's Mid West region.
The company's flagship Peak Hill Iron Joint Venture is a highly prospective magnetite and hematite iron ore project located at Robison Range, about 450km north east of Geraldton.
The Company has a solid program of work planned to develop the Peak Hill project over the next three years, with production targeted for 2015-2016.
Source:
Padbury Mining Limited
Contact:
Padbury Mining Limited
Tel: +61-8-6460-0250
http://www.padburymining.com.au