Global Metals Exploration (ASX:GXN) announced they stopped the first phase of air core drilling at their Jutson Rocks project.
Drilling was stopped after 54 holes and almost 1600 meters, as the company was unable to go deeper than an average of 33 meters per hole as the air core drill rig couldn’t drill deeper because of the harder than expected underground. Global also didn’t drill the planned holes at the Gravel Pit anomaly as they feel they need to do an initial Auger soil sampling program.
The company expects to receive the first assay results within the next two weeks, and hopefully we’ll have a better understanding of the anomaly by then. Global Metals will plan the Phase II drill program after all assays have been received from the lab.
Meanwhile, the company has been served with another S249D-notice from a shareholder holding more than 5% of the shares. We don’t have any more details at this moment and are waiting for more information from Global Metals.
Disclosure: Global Metals Exploration NL is a sponsoring company. Please see our disclaimer for current positions.
