19th May 2014 12:04
LONDON (Alliance News) - CEB Resources PLC Monday said it has expanded the exploration potential of its Peelwood Base Metal Project in Australia after identifying significant new geophysical targets outside of the known resource area.
CEB said the new targets, which represent priority opportunities for follow-up exploration, highlight the potential to delineate additional mineralisation.
The company's aim is to increase the mineable tonne potential at the site in order to establish a more robust project.
Follow-up work is currently being planned and is expected to include initial soil sampling and ground electromagnetic surveys to more precisely define the centres of the conductors, thereby enabling drill holes to be targeted more effectively.
CEB's farm-in partner at Peelwood is Balamara Resources Ltd.
CEB shares were trading flat at 0.425 pence.
By Anthony Tshibangu; [email protected];
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
CEB.L