The programme is designed to confirm and infill prior drilling, with the aim of enabling calculation of JORC-compliant resources during the second half of 2023; and deliver samples for metallurgical testwork and testing of rare earth element extraction utilising Medallion Resources proprietary technology that ACDC holds exclusive licencing to in eastern Australia.
ACDC Metals CEO, Tom Davidson, said: "Following on from the company's recent successful IPO, raising $8 million, we are pleased to be embarking on multiple parallel work programmes that support our goal to be a future supplier of both heavy mineral sand products and rare earth elements.
"We are now commencing upon a very significant drilling programme across our large tenement holding in Victoria. This programme will build upon knowledge of past drilling and the programme completed by ACDC Metals in December 2022. The data generated will support resource calculation, while the sample generated will enable expanded process testwork for both mineral sand and REEs."
ACDC Metals has engaged Wallis Drilling to complete a large aircore drilling programme of approximately 13,000m, with 300 holes across the company's three HMS/REE exploration projects.
Drilling will commence imminently and is anticipated to be completed during Q2 2023. The drilling will be conducted initially on council road verges and is low impact in nature, utilising existing access. Existing data from drilling completed predominantly in the 1990s provide a high level of confidence in the targeting process.
Drilling will test all three of ACDC Metals projects (Goschen Central, Watchem and Douglas) and will enable ACDC Metals to understand the distribution of HMS/REE mineralisation and to focus further programmes.
The proposed drilling programme will result in approximately 100 holes drilled at each project and will provide material to enable further research on HMS processing, and allow for the production of a monazite concentrate for downstream testing of the Medallion Monazite Process.
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