Accelerate Resources Ltd (ASX:AX8) expects to have the drill bit spinning today at its Thomas Creek cobalt-copper-gold prospect in Tasmania.
The drill program is focusing on three targets identified by modelling following a recent 3D induced polarisation (IP) survey.
Thomas Creek is part of the company’s Mount Read Cobalt Project on the Sorrell Peninsular of Tasmania’s west coast.
READ: Accelerate Resources’ survey reveals large cobalt-copper-gold target in Tasmania
Modelling defined a large chargeable anomaly of about 400 metres by 600 metres below a surface copper-cobalt anomaly.
The depth to the top of the anomaly is around 100 metres below the surface.
Three diamond holes planned
Accelerate plans three angled diamond holes to test two shallow targets and one deeper target within the chargeable feature.
Initial drilling of the central IP feature is the first step of a potentially much larger exploration program in the Thomas Creek area.
Further drilling will be carried out to follow up any significant mineralisation intersected in the initial holes.
Survey identifies anomalies
The IP survey was carried out by Zonge Engineering and Research Organisation Pty Ltd under the supervision of Southern Geoscience Consultants Pty Ltd.
It covered 10.8 line kilometres on five north-south oriented lines and one east-west line.
As well as the large moderately high chargeability, low resistivity anomaly three other satellite chargeable zones on the limits of the survey were identified.
These will be investigated by future follow-up IP surveys.
READ: Accelerate Resources debut on ASX supported by rising cobalt prices
As well as Thomas Creek, Accelerate also intends to focus its early exploration efforts at Mount Read on the Henrietta cobalt-nickel-copper project.
Accelerate debuted on the ASX in mid-February 2018 and has traded in the range of 16 cents to 22 cents.