Padbury Mining Limited (ASX:PDY) Signed Drilling Contract with Aurium Resources Limited (ASX:AGU)
Perth, Australia (ABN Newswire) - Padbury Mining Limited (ASX:PDY) and joint venture partner Aurium Resources Limited (ASX:AGU) are pleased to announce the execution of a drilling contract with Arrinooka Drilling for 12,500 metres of reverse circulation drilling at Telecom Hill.
Mobilisation will start over this weekend with drilling expected to commence next Tuesday.
'We are very enthusiastic about this program as we will be attempting to establish a Direct Shipping Ore (DSO) source at the Peak Hill project,' Padbury Managing Director Gary Stokes said.
This drilling program is the first aimed at the JV's 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
