Quarterly Activities Report December 2017
Highlights - Growth Accelerates at Broken Hill and Murray Basin Projects
- BPL is implementing the growth strategy articulated at its 2017 AGM. Improved share price performance in recent weeks demonstrates support for this strategy, with Company value re-rate expected to continue.
- Focus is sharpened on the Broken Hill regional strategy and Murray Basin Mineral Sands Project. The Thackaringa Cobalt Project continues to deliver very strong results based on new drilling results.
- Cash of $2.9 million at 31 December 2017 and no debt means value-added initiatives can be met without an equity raising.
- Strong pricing for all key target commodities continues through the December quarter and into 2018.
Broken Hill Precious, Base and Industrial Minerals Strategy
- A geophysical program targeting base and precious metals at the Thackaringa Project was completed during the December quarter and reported on 22 November 2017.
- Numerous high priority targets are identified, most with minimal modern exploration and no drilling.
- Additional tenement applications made during the Christmas period significantly expand BPL's regional footprint.
- An exploration program on all areas will commence during the March 2018 quarter.
Murray Basin Heavy Mineral Sands Project
- BPL holds the largest tenement portfolio in the world class Murray Basin, focussing on high-grade, low-tonnage, shallow deposits with high value mineral assemblages.
- New tenement applications are nearing approval and an extensive exploration program for all tenements is to commence during the March 2018 quarter.
Thackaringa Project - Cobalt Blue Joint Venture
- A major drilling program comprising 74 holes for 12,459m was completed. The results demonstrate strong continuity of cobalt mineralisation along strike and down dip where the deposit remains open below 300m.
- Pre-feasibility studies are advancing well, including metallurgy and process design, flora and fauna, hydrology, optimised site design and civil works.
- Targeting Indicated resource completion in April 2018 and pre-feasibility study in June 2018.
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About Broken Hill Prospecting Ltd
Broken Hill Prospecting Ltd (ASX:BPL) is an Australian exploration company focussed on the discovery and development of strategic mineral resources across two primary geographical areas; the Murray Basin Region (Heavy Mineral Sands) and the Broken Hill Region (industrial, base and precious metals, including the Thackaringa Cobalt & Base/Precious Metal Project).
Broken Hill Prospecting Ltd