Krucible Metals (ASX: KRB) has outlined its exploration program for 2013 field season, with the company to focus base metals, rare earths, precious metals and possibly others like uranium.
This exploration plan follows the anticipated sale of its phosphate bearing tenements to Daton Group Australia for a total consideration of $12 million.
Krucible has allocated a budget of $912,000 which is proposed to complete the intended exploration for 2013, which will start in the Cannington area with further surface sampling over target areas, and then extend to other areas.
Of interest Krucible's EPM19028 (EPM granted in May 2012) is within 20 kilometres of the Cannington Mine, yet there has been no drilling or field exploration work in the application area.
Cannington is wholly owned by BHP Billiton (ASX: BHP) and has grown to become the world’s largest and lowest cost producer of silver and lead. The operation consists of an underground mine and metallurgical processing facility.
These additional areas include; Korella, if JV; REE/Strontium leaching, metallurgical work; Yttro, for REE and phosphate if JV; Merlin Tank/Puma, copper if JV; Toomba, drilling; Tobermorey, reconnaissance exploration; Cowie Mag surface exploration and drilling; Coorabulka, dependent on being approved; and Recon exploration on the Isa West area.
Cannington: Base metal exploration
In the Cannington area (EPM17621), over the next year Krucible plans to further investigate anomalies with additional infill surface sampling, and potentially complete geophysical surveys to outline any overlapping anomalies.
This would then help define a geological model to plan a shallow drill program for these areas during the year.
At (EPM19028), Krucible has completed desktop interpretations of this area and believes the area to have good potential for Molybdenum/Vanadium/REE (Rare Earth Elements) plus Uranium enrichment associated with the unconformity between the Toolebuc Formation and the underlying Proterozoic granites.
Furthermore with the proximity of the Cannington and Eloise Mines and the under explored ground, potential for basemetal and gold mineralisation within the underlying shallow (>200m) Proterozoic basement is high.
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