(MENAFN- ABN Newswire) Sydney, Feb 1, 2018 AEST (ABN Newswire) - Broken Hill Prospecting Ltd () provides the Company's Quarterly Activities and Cash Flow Reports for the period ending 31 December, 2017.
Highlights - Growth Accelerates at Broken Hill and Murray Basin Projects
Corporate
- BPL is implementing the growth strategy articulated at its 2017 AGM. Improved share price performance in recent weeks demonstrates support for this strategy, with Company value re-rate expected to continue.
- Focus is sharpened on the Broken Hill regional strategy and Murray Basin Mineral Sands Project. The Thackaringa Cobalt Project continues to deliver very strong results based on new drilling results.
- Cash of $2.9 million at 31 December 2017 and no debt means value-added initiatives can be met without an equity raising.
- Strong pricing for all key target commodities continues through the December quarter and into 2018.
Projects
Broken Hill Precious, Base and Industrial Minerals Strategy
- A geophysical program targeting base and precious metals at the Thackaringa Project was completed during the December quarter and reported on 22 November 2017.
- Numerous high priority targets are identified, most with minimal modern exploration and no drilling.
- Additional tenement applications made during the Christmas period significantly expand BPL's regional footprint.
- An exploration program on all areas will commence during the March 2018 quarter.
Murray Basin Heavy Mineral Sands Project
- BPL holds the largest tenement portfolio in the world class Murray Basin, focussing on high-grade, low-tonnage, shallow deposits with high value mineral assemblages.
- New tenement applications are nearing approval and an extensive exploration program for all tenements is to commence during the March 2018 quarter.
Thackaringa Project - Cobalt Blue Joint Venture
- A major drilling program comprising 74 holes for 12,459m was completed. The results demonstrate strong continuity of cobalt mineralisation along strike and down dip where the deposit remains open below 300m.
- Pre-feasibility studies are advancing well, including metallurgy and process design, flora and fauna, hydrology, optimised site design and civil works.
- Targeting Indicated resource completion in April 2018 and pre-feasibility study in June 2018.
To view the full report, please visit:
About Broken Hill Prospecting Ltd
() is an Australian exploration company focussed on the discovery and development of strategic mineral resources across two primary geographical areas; the Murray Basin Region (Heavy Mineral Sands) and the Broken Hill Region (industrial, base and precious metals, including the Thackaringa Cobalt & Base/Precious Metal Project).
MENAFN3101201801110000ID1096414551
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.