(MENAFN - ProactiveInvestors - Australia) Dourado Resources (ASX: DUO) is planning an extensive series of drilling programs over its Mooloogool/Diamond copper project in Western Australia to follow up on 13 anomalies and previous drilling.
Over 250,000 metres of drilling is planned at the project, which is located less than 30 kilometres from Sandfire Resources' (ASX: SFR) DeGrussa deposit.
This will further explore the 13 copper anomalies and other targets and to follow up on previous rotary air blast and reverse circulation drilling that showed the occurrence of sulphidic black metasediments.
The program consists of:
- 1,500 metres of rotary air blast and air core drilling in the south eastern area of the project
- About 50,000 metres of rotary air blast, air core and reverse circulation drilling across the southern tenements; and
- About 200,000 metres of rotary air blast, air core and reverse circulation drilling to cover mainly the western and southern project areas.
The first program has already been approved by the Department of Mines and Petroleum and is progressing through heritage survey processes while the second is due to be lodged with the DMP soon.
The final and largest program is in planning stages and will be lodged in the near future.
Dourado is also planning to carry out 70,000 metres of rotary air blast, air core, reverse circulation and auger drilling at its Sabbath Gold Project.
This is designed to explore the full potential of the tenements by focussing on the 11 identified target areas, while continuing to model the recent reverse circulation drilling.
Sabbath has a current Measured Resource of 145,000 tonnes at 2.21 grams per tonne gold.
Negotiations have started with a major drilling contractor to carry out the planned drilling programs at competitive rates, subject to the completion of due diligence.
The drilling contractor has agreed to receive part payment in cash and has independently undertaken to subscribe for shares and options in the Company in satisfaction for the provision of the drilling work.
This will allow Dourado to conserve its cash while it conducts aggressive drilling exploration programs.