The 4,250m RC drilling is reportedly a part of the exploration program for the project that is expected to span over next 12-18 months. It also includes the Brownfield exploration at known deposits in the Sulphur Springs and Whim Creek regions and Greenfield exploration at new selective targets.
The company anticipates that the project has the capacity of returning significant operating cash flows in accord to rise in metal prices and exchange rates. For 5% increase in exchange rates, EBIT forecast is estimated to grow about 35% – 40%, the company said in a statement.
Meanwhile, the company has also begun an enhancement program to optimize the scale and life of the project alongside securing the necessary approvals.
The Brownfield exploration will initially focus on the Sulphur Springs, Kangaroo Caves, Salt Creek and Evelyn deposits as a part of the enhancement program.
