22nd Sep 2015 08:23
LONDON (Alliance News) - Wildhorse Energy Ltd on Tuesday said it has completed shallow core drilling work at the Lake Wells project in Australia.
The drilling programme confirmed the brine pool at the lake has excellent porosity and brine chemistry for estimating a substantial initial resource.
The company said the geology seen in the drill holes so far has been encouraging and only two holes have encountered any basement rocks, with all others drilled without obstacle.
Shares in Wildhorse were down 7.0% to 6.625 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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