First Development Resources (AIM:FDR) said it is ready to start its Phase I diamond core drilling programme at the Wallal project in the Paterson Province of Western Australia.
“When FDR secured Admission to AIM last month, we said we would immediately deploy funds into the ground and today's announcement demonstrates we are doing just that," chief executive Tristan Pottas.
"I look forward to travelling to site in the coming days and being present for the execution of what we believe will be hugely exciting drilling programme”.
Contractor DDH1 Drilling has set up camp and support infrastructure, with drilling to commence in the coming days.
The programme is designed to test the Eastern magnetic bullseye anomaly identified in geophysical surveys. The first borehole will extend to about 1,220 metres, targeting basement rocks below 800 metres of cover sequence.
The anomalies show geological similarities to the nearby Havieron discovery, the explorer highlighted.