CuFe Ltd to Commence RC Drilling at North Dam

CuFe Ltd (ASX: CUF) has announced that it has successfully mobilized equipment to initiate a RC drilling program at the North Dam Project (E15/1495), situated 41 kilometers southeast of Coolgardie. This marks the inaugural critical minerals exploration campaign within the North Dam Tenement.

Challenge Drilling, a seasoned drilling contractor based in Kalgoorlie, has been selected to execute a comprehensive drilling program involving approximately 2,500 meters of Reverse Circulation (RC) drilling. Known for its specialization in RC mineral exploration and recent local drilling experience, Challenge Drilling is set to mobilize its equipment and team to the site this week, with the drilling operations expected to span two weeks.

In preparation for this program, the Marlinyu Ghoorlie Traditional Owner Group conducted a final pre-clearance and monitoring survey in late July to facilitate pad preparation and access establishment. However, significant rainfall has caused delays, impacting site access and earthworks. Consequently, local Indigenous earthworks contractor Karlkurla Pty Ltd will carry out the necessary site preparation in August 2024.

The exploration results at North Dam have highlighted several promising targets, which will be tested in the Company’s inaugural RC drilling program across five identified areas. The drilling will commence in the North-East of the project area, targeting LCT pegmatite trends identified through recent soil surveys and geochemical analysis. Drilling results will undergo analysis, with assay results anticipated in October 2024.

CuFe Executive Director Mark Hancock expressed enthusiasm about starting the North Dam drilling program, highlighting that previous exploration has shown potential for lithium oxide (Li2O), niobium (Nb), and rare earth elements. The broad spacing of the drilling will help the geology team gain a clearer understanding of the regional geology and concentrate on key areas of mineralization. Hancock remains optimistic about the long-term demand for critical minerals and views this program as a crucial step in assessing the North Dam Project's potential. Despite some delays caused by local winter rainfall, Hancock acknowledged the support of the Marlinyu Ghoorlie Traditional Owner Group and expressed satisfaction with involving local Indigenous earthworks contractors, which also benefits the broader Kalgoorlie community.

CuFe Ltd is a diversified mining company with a focus on near-term, high-grade iron ore production and projects. The company also holds interests in copper, lithium, rare earth elements (REEs), gold, and iron ore projects located in Australia's premier mineral regions. CuFe's experienced team has a proven track record of successfully developing and operating low-cost iron ore projects.