Duke Exploration Ltd (ASX:DEX) is confident that exploration, including drilling, at its flagship Bundarra project in central Queensland will lead to the identification of further resources for future campaigns.
Drilling at the following targets is progressing on schedule and will conclude this month:
- Mineralised north-south trending structures in the northeast of the Bundarra Intrusion Complex.
- The extent of the breccia mineralisation at the Rogers prospect.
- A prominent magnetic high northeast of Rogers.
- Ground validation of the Rankin 2022 structures and targets.
Duke hopes to announce a proposed drill program, including estimated costings after a detailed review is completed several weeks after.
Activity pause
Duke said it is aware that future campaigns on the Bundarra Pluton will require further funding but that market conditions are not favourable for small mineral exploration companies like itself at the present.
Hence, it intends to pause any further drilling activity until after the current drilling campaign is completed.
The company will continue to monitor market conditions but in the meantime, is also actively evaluating a number of opportunities which may or may not result in a transaction going forward.