Infill drilling of the Vardy Zone is nearly complete and should lead to the first of a series of Resource upgrades in the coming months. High grade assays have been released from infill drilling, pointing to the potential for an uplift in Resource grade and tonnes
In addition to this a 32,000 line-kilometre 2D seismic survey has been completed. This had previously been delayed by the contractors but an opening in their schedule enabled them to undertake the job at Walford Creek at the time of our visit. This will cover the existing Resource and several kilometres west of it. It will be an entirely new dataset and exploration tool for the project, aimed at providing stratigraphical and structural information to depths of up to 600m. Interpretation of the survey data is expected to take 2-3 weeks and help identify structural traps for hydrothermal fluids – potentially high grade zones in the deposit. Apart from providing structural information to aid drill targeting its timely completion qualifies AML for a ~$200k Collaborative Exploration Incentive payment from the Government.
AML Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held