Strategic Energy Resources has completed a drilling program at its Saxby gold project in North-West Queensland, opting to pull out before the wet season rather than sink a second hole.
The company said it would sample 95m of core from drill hole SXDD020, which had reached a vertical depth of 718.63m. Assay results are expected next month.
Drilling was slower than expected due to time taken for replacement equipment to reach the remote site, the company said.
“Given this, SER made the decision to demobilise rather than risk getting trapped as wet season approaches,” Strategic Energy Resources said.
The drilling began on October 10, with a Alton HD900 track-mounted drill rig from Australian Mineral and Waterwell Drilling.
Strategic Energy Resources describes Saxby as the most significant gold exploration prospect in the north-east Mount Isa Province.
The project is 165km north-northeast of Cloncurry.