Neometals (ASX:NMT) started an exploration drill program at its Barrambie project in Western Australia, marking the first gold drilling in the area in two decades, according to a Wednesday filing with the Australian bourse.
The drilling program, covering 12 holes for 1,000 meters, focuses on the Ironclad prospect and is designed to verify the location, tenor, geometry, and trends of gold mineralization intersected in historic drilling, the filing said.
The next steps include the drilling of historic mining centers, including the Barrambie Ranges underground mine, subject to board approval and heritage clearances, per the filing.
Shares were up 14% on morning trade Wednesday.
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