PepinNini Minerals (ASX:PNN) has started a reverse circulation drilling program to investigate the extent of mineralisation at the Braemar Iron Formation on its Mt Victor licence in South Australia.
The reverse circulation drilling of about 3,000 metres will be carried out over the next 3-4 weeks and will test about 4.3 kilometres along the 40 kilometres strike length of the Braemar Iron Formation in the Curnamona province.
The tenement is part of the Sinosteel PepinNini joint venture alliance in which PepinNini has 40% interest, with Sinosteel PepinNini Curnamona Management managing the joint venture.
The venture aims to explore the iron ore potential to assess the extent of the resource and metallurgical characteristics of the magnetite at the Mt Victor iron ore prospect.
The partners have already obtained all statutory and heritage approvals.
The company held $1.59 million in cash at the end of the December 2012 quarter.
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