DRC Drilling appointed to commence final drilling program at Adelong Goldfield by month end
• Program to test the Caledonian Deposit with expected upgrade and possible expansion to
allow finalisation of Scoping Study
• Planning initiated for exploration at Gibraltar Mine
3D Resources Limited (ASX
DD) (3D Resources or the Company) is pleased to announce that it has
reappointed and signed a contract with DRC Drilling of Dubbo to implement an approximate 2,000m
drilling program at the Adelong Goldfield. The drilling program is scheduled to commence at the end
of the month subject to completion of existing commitments by DRC Drilling.
The proposed drill program is designed to improve the geological understanding of the Caledonian
Deposit and aims to upgrade the current inferred resources to a higher classification for inclusion in
and finalisation of the Company’s Scoping Study. The Company has already released the Initial Scoping
Study (ASX Announcement : 18 November 2021) which demonstrated the viability of the Adelong Gold
Project, reporting Net Cash Flow (before Tax) of $51.06M and an IRR of 62% from only 40% of the
current JORC Resources. This drill program is expected to pave the way to finalise and upgrade the
project.
Commenting on the proposed Drilling 3D Resources Managing Director, Mr. Peter Mitchell said:
“We are pleased to commence this drill campaign which should allow us to finalise the Scoping
Study at the Adelong Gold Project. This time of year provides the best weather conditions for
drilling in the region and the Company is particularly pleased to get it underway. Once 3D
Resources has finalised the Scoping Study, we will be able to plan the future path toward
unlocking the considerable value we believe the Adelong Gold project holds.”
Caledonian Deposit
Caledonian is a series of parallel narrow veins located approximately 800m north and on the same
shear structure as the Challenger Deposit. While the company attempted to initiate this program at
the end of the 2021 drilling campaign, the ground conditions after the very heavy rains had made the
site inaccessible to the track mounted rig. The proposed Caledonian program involves approximately
12 drill holes for an estimated 1,500m of RC Drilling with the potential for additional drilling depending
on results obtained.
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