Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Lanthanein Resources Ltd (ASX:LNR, OTC:FRNRF).
The company has started diamond drilling at the Lady Grey Project, part of Mt Holland in Western Australia.
The project is near the historic Bounty Gold Mine, which produced 1.3 million ounces of gold on Covalent Lithium’s Mount Holland mine site.
This marks the second phase of exploration at the Lady Grey prospect, targeting a modelled conductor plate identified through a moving loop electromagnetic (MLEM) survey.
The conductor plate lies 200 metres below the surface and dips to the east. Drilling is being conducted from a historic access road that connects Lady Ada Mine and the Marvel Loch Forrestania Road.
The program focuses on diamond tail drilling of three reverse circulation (RC) precollars previously drilled to depths of up to 150 metres.
The current phase is testing the conductor plate under Line #6, which corresponds to a 75 parts per billion (ppb) ultrafine soil gold anomaly.
Heritage surveys for MLEM Line #1, which features a stronger 256 ppb soil anomaly, have been completed by the Ballardong Aboriginal Corporation and their consultants.
Lanthanein is working to secure additional permissions for this higher-priority line.