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PERTH - First Development Resources plc (AIM:FDR) has successfully completed what it describes as the most technically challenging phase of its first diamond drill hole at the Wallal project in Western Australia’s Paterson Province, according to a company press release on Monday.
The UK-based exploration company reported that drilling has advanced through the Wallal Sandstone formation, a major component of the sedimentary cover sequence. Despite encountering several technical challenges within this formation, the company stated these were effectively addressed through collaboration between the onsite drilling team and operational support from drilling partner DDH1 Drilling Limited.
Operations have now transitioned to coring as the drill hole progresses toward the basement geology, which is interpreted to host the magnetic bullseye target that the company is exploring. The drill hole is targeting the Eastern Magnetic Bullseye anomaly at the project.
The Wallal project represents FDR’s flagship asset among its portfolio of eight granted tenements covering 2,314.4 square kilometers across Western Australia and Australia’s Northern Territory. The company’s Western Australian assets include three prospective copper-gold projects located in the Paterson Province, a region known for significant gold-copper deposits.
First Development Resources is listed on London’s AIM market and describes itself as an Australian-focused exploration company with mineral interests in Western Australia and Australia’s Northern Territory.
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