Excitement continues to mount at Strategic Minerals PLC (LON:SML), with the company having completed planning for the maiden drilling programme at the Hanns Camp nickel/copper project.
The permit of work has been granted by the Western Australia Department of Mines and Petroleum, paving the way for the commencement of drilling, which remains on track for mid-late May.
Strategic Minerals has a 50% interest in Hanns Camp through its stake in Central Australia Rare Earths, which holds the licence for the Laverton area in which Hanns Camp is located.
The planned programme will be the first nickel focused-drilling at Hanns Camp since the late 1970's and it follows extensive analysis of historical records with recent electromagnetic survey data, Strategic Minerals said.
The programme consists of three drill holes, with the third dependent on success in the first two, and totals 1,050 metres.
Each drill hole will home in on a separate nickel-sulphide target, with the three areas chosen being the highest priority identified by Central Australian Rare Earths and are considered some of the most compelling green-fields nickel-sulphide exploration opportunities in the Yilgarn Craton of Western Australia, Strategic Minerals said.
The programme has certainly caught the imagination of investors, with the shares up 160% up since the permit of works application was lodged on April 21.
"The granting of the permit of work by the West Australian Government has allowed our team to negotiate and finalise the drilling programme, culminating in the signing of a drilling contract. This shows our intent to undertake the drilling programme within this quarter as previously declared," said John Peters, managing director of Strategic.