Drilling for gold and copper begins at Drake
DRILLING has started at a new copper and gold target near Drake, 70km west of Casino, with early results expected this month.
White Rock Minerals has been working at Mt Carrington since 2010, when the company started a major drilling program in order to determine quantities of gold, silver and copper.
But last month White Rock Minerals started drilling the first hole in a program to test "significant" new copper and gold targets.
A drilling program of up to 2000m will test targets that were identified by a geophysical survey and confirmed by soil sampling earlier this year.
The potentially large copper and gold system is located west of the already known shallow gold, silver and copper deposits.
White Rock Minerals' managing director, Geoffrey Lowe, said the drilling would be partly funded by a $200,000 NSW Government grant as part of the New Frontiers Cooperative Drilling Program.
"If successful this drilling program could be transformational for White Rock Minerals," he said.
"The first hole should be completed by late April but will be just the first of several drill holes, any one of which has the potential to lead to indications of a significant new copper/gold discovery.
"The first results from the drilling are expected in May."
The Tenterfield and Drake areas have long been known for their gold potential.
Tenterfield was settled by sheep and cattle farmers, but the population exploded in the 1880s after the discovery of gold at Morgans Gully and Ropers Gully, north of the town. Gold was discovered at Mt Carrington in 1886.