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The latest assays from Big Red include 23m at 1.03% from 53m and 13m at 1.23% from 41m. Five diamond hole assays remain outstanding.
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The prospect remains open in the north and northwest, and may extend along a 1km of strike based on identification of a new resistivity anomaly.
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Additionally, a single hole testing the Rocky prospect, 500m from Big Red, returned 5m at 1.12% from 104m. The prospect is open to the south and east.听
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Rocky may be part of the same system.
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A third phase of drilling for 4000m of RC drilling is about to start, which will infill Big Red and test regional targets at Rocky, Eastern Grey, Wallaroo and Pademelon.
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An additional 7000-10,000m of RC and diamond is planned to extend Big Red as soon as approvals are confirmed.听
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It may be extended to assess Big Red North, Western Grey and Quokka prospects.
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The pair made the initial Big Red discovery in March within the wider Nepean project, near Coolgardie.
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FBM shares were off 7%, capitalising the company at 14c, while Lodestar was off 20% at 0.4c, valuing it at $7 million.
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