ASX newcomer ACDC Metals (ASX: ADC) has started an extensive follow-up aircore drilling program across its heavy mineral sand (HMS) and rare earth element (REE) projects in Victoria to confirm and infill earlier exploration work.
The three-month program will drill a total of 300 holes for 13,000 metres across the early-stage Goschen Central, Watchem and Douglas projects, located on the eastern edge of the Murray Basin.
It will build on exploration conducted in December and is designed to enable calculation of resource estimates for release during the second half of this year.
It is also expected to deliver samples for metallurgical testwork and testing of REE extraction utilising a proprietary monazite processing method owned by Canadian REE technology developer Medallion Resources.
Drilling will be conducted initially on council road verges and will be low impact in nature, utilising existing access.
ACDC said historic data from exploration in the 1990s had provided a high level of confidence during the targeting process.
Future supplier
ACDC chief executive officer Tom Davidson said drilling will support the company’s goal of becoming a future supplier of HMS and REE products.
“This will be a very significant program across our large tenement holding in Victoria which will build on knowledge gained from past exploration,” he said.
“The data generated will support resource calculation, while the sample generated will enable expanded process testwork for mineral sands and REEs.”
December drilling
In December, ACDC engaged Wallis Drilling to complete 1,000m of initial aircore drilling at the Goschen Central project.
Drilling was completed on roadside verges at nominal 800m spacings.
Samples are currently being prepared for assaying with results expected during the current drilling program.
Official listing
ACDC officially listed on the ASX in January following an $8 million initial public offering which issued 4 million shares at $0.20 each.
The company’s three projects were discovered through past drilling which began in the 1980s and have not been the subject of significant recent investment.
The dominant mineralisation style across all projects is mineral sand, which contains a suite of valuable heavy minerals including zircon, rutile, leucoxene, ilmenite and monazite (which contains REE).
