(NewsDirect)
OzAurum Resources Ltd (ASX:OZM) hascommenced drilling at the Boca Rica Lithium Project in Brazil, usingits own drilling rig which has been updated to meet Australianstandards.
CEO and managing directorAndrew Pumphrey tells Proactive's Stephen he has been in Brazilfor the past few weeks preparing the site. The company has achievedsignificant milestones in enhancing site access and positioning thedrilling rig on a steep hill.
Thedrilling program is set to explore below a weathered zone, aiming toreach fresh rock at approximately 80 metres depth, targeting aspodumene crystal formation previously discovered in an undergroundadit. This zone is anticipated to yield more extensive geological dataand potential significant lithium deposits.
OzAurum is financially prepared for thisphase, with cash of A$1.4 million and benefiting from loweroperational costs due to owning its drilling equipment. Pumphrey saidthis cost-efficiency allows flexibility in its ongoing diamonddrilling programme.
The resultsfrom the first drill hole will guide future drilling efforts. Pumphreyalso mentioned that sample analysis by Brazilian labs could take abouta month, with results expected to influence the next steps in theirexploration.
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JonathanJackson
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jonathan@proactiveinvestors.com
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