logo-loader

Comet Resources readies for drilling next quarter at Santa Teresa Gold Project

Published: 01:10 16 Dec 2020 GMT

Comet Resources Ltd - Comet Resources readies for drilling next quarter at Santa Teresa Gold Project
Minera Cascabel workers inspecting historical mine infrastructure at the Santa Teresa Gold Project.

Comet Resources Limited (ASX:CRL) is preparing for its maiden drilling program next quarter at the Santa Teresa Gold Project in Baja California, Mexico.

The company is undertaking a mapping and trenching program focused on vein outcrops, which will assist with final drill-hole positioning and has completed an ecological survey as a part of the drilling permitting process.

Comet’s project manager for Santa Teresa, Interminco Services Limited, has recently appointed a local geological consultant, Minera Cascabel, which operates a joint venture with the Imdex Group, staffed by veterans of northern Mexico exploration.

Finalising geological work programs

Comet Resources managing director Matthew O’Kane said: “It’s great to have boots on the ground pushing forward to drilling for Q1 next year and to be finalising plans for a number of geological work programs at Santa Teresa.

“I am very pleased with the expediency of work from Interminco and have great confidence in our recent appointment of Cascabel - Imdex as geological consultants.”

Minera Cascabel will assist Interminco with all geological programs, including permitting for drilling.

Interminco has also recently concluded negotiations for surface rights access agreements with local landowners, which are now being documented by the company’s Mexican legal counsel.

Drilling preparation

Ecologists have visited the site to conduct the formal survey required as part of the drilling permitting process.

Sources of water for drilling have been identified and roads improved to facilitate access to the site.

Before starting the drilling, old trenches will be cleaned, deepened and sampled to improve the quality of the GIS database and enable precise placement of the drill holes.

Survey and GPS equipment has arrived on the site and is being utilised by the Minera Cascabel staff.

Interminco is evaluating the potential to dewater historical workings for survey, mapping and sampling and establish underground drilling platforms which will greatly reduce drilling costs and improve the accuracy of the drilling.

The balance of the consideration to secure Comet’s initial 50% interest in the project has now been paid upon satisfaction of the conditions subsequent.

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

2 hours, 39 minutes ago