SYDNEY: Fenix Resources Limited announced that it is due to commence a combined infill and geotechnical diamond drill program at its Iron Ridge Project, which is located in the Mid-West region of Western Australia. [the_ad id=”32940″]The planned drill program consists of seven holes for 880m of infill diamond drilling targeting the conversion of a portion of the existing Inferred Mineral Resource to Indicated category, plus four geotechnical assessment holes for 690m and two extensions to the resource infill holes for a further 145m.
Results from this program should be progressively released from July 2019 onwards. The Project feasibility study is now due to be completed in October 2019. Over the next few months, Fenix is expected to commence a further 650m of drilling for the purpose of hydrological studies.
Managing Director commenting on the imminent commencement of drilling, Fenix’s Managing Director, Robert Brierley, commented:“This drill program is an important step in completing the necessary technical assessments required to complete the feasibility study on development of the Iron Ridge Project. We look forward to intersecting more iron ore mineralisation and reporting back to shareholders as we progress towards direct shipping production in the fastest possible timeframe, all the while maintaining high standards of quality control and risk management. By combining the infill and geotechnical drilling programs we have saved valuable drill meterage and preserved cash resources in the process.”