Recently listed Ark Mines (ASX: AHK) has commenced drilling at the Perseverance and Rocky Ned workings, part of the company’s Bald Hills Project, in the Lachlan Fold Belt.
Highlighting the prospectivity of the area are over 70 historical gold mines with mineralisation in banded iron formations.
Bald Hills covers the Mount Dijou-Bald Hills old gold mine workings and the Wilga Downs copper-gold mines.
An initial 10 to 12 reverse circulation drill program will target shear/vein systems under the workings with vertical extent of the structure tested at varying depths.
The strike of the system at surface is about 200 metres, with Ark adding that this could be extended with drilling at depth.
GAP geophysics completed a sub-audio magnetic survey and two reconnaissance holes have been drilled at the project.
A 50 metre by 50 metre and 25 metre by 25 metre ground gravity survey to further delineate the high will follow-up the infill gravity program expected to commence in early June.
Ark was admitted to the ASX earlier in the month following a successful IPO offering 15.5 million shares at $0.20 to raise $3.1 million.