A total of 110 air core and Reverse Circulation holes are planned at three of the more advanced prospects – "Golf Bore", "Golf Bore North" and "Camp Fire Bore". The Golf Bore and Campfire Bore prospects are within the Kingsgate Joint Venture area.
The programme and budget has been approved by both parties to the Joint venture. Golf Bore North lies within IronClad’s 100% owned EL 5526 and drilling of 25 planned AC holes in that area remains subject to native title clearance.
Australian Mineral and Waterwell Drilling has been contracted to undertake the drilling and are aiming for a late July start up.
The South Australian Government, through its "Programme for Accelerated Exploration" has committed $75,000 towards the drilling costs. In addition IronClad also has an outstanding credit with SGS Laboratories for $20,000 worth of assay work.
All drilling targets are currently constrained to an area within 50 Kms from the Challenger milling operations. Subject to certain conditions, all joint venture ore can be treated at the Challenger mill.
The Objectives
The objectives of this first phase of drilling at Jumbuck are:
a) To improve the economics of the existing resource at Golf Bore by extending the three known, shallow, high grade centres with a view to early, low cost production.
b) To extend the known resource at Golf Bore to the north and Souh and:
c) To test previous high grade, deeper drill intersections at Campfire Bore for extensions andsimilarities to the Challenger mineralisation.
