News: Minerals Corporation looks to drilling at Skardon Kaolin Project

Minerals Corporation (ASX:MSC) has devising an immediate drill program to follow up on the priority target areas determined by the 2012 drilling at its Skardon Kaolin Project in Cape York Peninsula, Queensland.

The company’s securities will be reinstated for quotation on the ASX at the commencement of trade tomorrow, 15 August 2014.

It is also reviewing a number of investment opportunities.

Skardon Exploration

Skardon comprises a granted exploration permit (EPM4068, 20% MSC), an exploration permit application (EPM18,242, 5% MSC) as well as two mineral development licence applications (MDL423 & MDL425, 5% MSC).

It has engaged Geos Mining to initially assist with a review of historical exploration work and now to devise an immediate drilling program at the project to locate additional resources of readily accessible, high quality kaolin.

This will build on previous geological knowledge of the area and, in particular, the work done by MSC over the past three years.

Works previously undertaken include a seven hole air core drilling program on two areas within the tenement, which was designed to test the potential for further kaolin outside of the known resource areas.

Joint venture partner Gulf Alumina is currently drilling for bauxite at the project with a sonic drill rig, which will remain on site until late August.

This represents a good opportunity to conduct a modest near-term high impact exploration program given the rig produces better, less contaminated samples than the air core rigs traditionally used for exploration in this environment.

The initial program will be to drill five or six holes with samples provided for further analysis.

Results of the sample analysis will drive future exploration work at the project.