Pembridge Resources outlines 2021 drilling plans for Minto
Pembridge Resources PLC (LON:PERE) has announced the 2021 exploration plans for the Minto copper project in Canada, in which it owns a significant stake.
The senior management of Minto Exploration Ltd has approved an exploration drilling programme aiming to explore highly prospective and undeveloped parts of the Minto Claims area.
Initially, 64 targets were identified by Minto.
These were then prioritised for drilling based on the 2009 Titan 24DC-IP geophysics and 2019 UAV-Mag geophysics, and 27 high priority drillhole targets were identified all of which are near to known mining areas.
The cost of the drilling programme is budgeted at C$3.2mln.
It will be financed from internally generated cash flows.
The planned timeline for drilling is from July to November 2021, with final results expected in early 2022.
“This new exploration drilling programme continues Minto’s aim of exploring the Minto copper belt and realizing its potential,” said Gati Al-Jebouri, chief executive of Pembridge.
“As stated at the time of announcing the results of the 43-101 Preliminary Economic Assessment Technical Report, the management of Minto expects to see further growth in the Minto resource base, which this exploration drilling programme is expected to confirm. We look forward to seeing the results, which I expect will indicate further opportunity to extend the life of the mine.”