(MENAFN - ProactiveInvestors - Australia) Wild Acre Metals (ASX:WAC) has signed a drilling contract for its Chaparra iron oxide copper gold project in Peru.
The drilling program will test a number of targets with deep reverse circulation drilling totalling about 1,200 metres.
Priority targets that will be tested in the drilling program include the northern boundary of the western anomaly, magnetic gravity highs in the western and south eastern part and the central low zone.
Drilling at the project is likely to start late January/early February once drill permits are obtained from the Peruvian authorities.
The proposed drilling campaign is buoyed by event geophysical surveys, including ground magnetics and gravity, that identified a number of targets requiring drill testing.
The Chaparra project is located about 560 kilometres south east of Lima within the Peruvian iron oxide copper gold belt.
The project covers a regional scale magnetic anomaly similar to regional deposits of Shougang Hierro Peru's Marcona iron project, Minsur's Mina Justa copper project and Nanjinzhao Group's Pampa de Pongo iron deposit.