Brisbane-based PepinNini Minerals (ASX: PNN) has commenced a drilling program targeting ten areas for uranium, copper, gold, lead and zinc mineralization within its Kalabity tenement (EL4239) in the Curnamona Province of South Australia.
A total of 4,000 metres of aircore drilling along 28 traverses will be completed during the program, which is being undertaken by Sinosteel PepinNini Curnamona Management Pty Limited (SPCM) on behalf of the joint venture partners Sinosteel Corporation (60%) and PepinNini Minerals (40%).
New radiometric, aeromagnetic and geochemical data collected by SPCM and a review and compilation of historical literature and data has enabled the company to identify the target areas.
With heritage clearance having been approved, areas 1, 2 and 3 will be the initial target areas to be drilled. Additional target areas will undergo heritage clearance surveying within the coming weeks.
The drilling will test a number of stratigraphic settings proximal to the prospective “Bimba Transition” which are highlighted as either airborne radiometric anomalies or interesting aeromagnetic features in areas where previous exploration drilling has either been absent or very limited.
The aircore drilling program is being undertaken at the same time as the company's diamond drilling program for the Scott Hill tenement, also within Curnamona Province, which will involve the completion of four deep diamond boreholes to test the olympic Dam/Carapateena style iron oxide copper gold uranium (IOCGU) targets.
PNN has a market capitalisation of A$16.81 million and had A$4.69 million at the end of the September quarter.