Dundas Minerals launches battery metals exploration drill run in WA

Mon 13 Feb 23, 11:58am (AEST)
An exploration drill rig in an Australian context
Source: iStock

Key Points

  • Dundas Minerals is firing up the drill rig at its Matilda South project in WA’s south
  • The project acreage is prospective for battery metals and there’s also the chance gold may be present
  • Drilling is co-funded by the WA government which earmarked the project due to domestic supply chain initiatives

Dundas Minerals (ASX:DUN) has kicked off its well-planned 2023 exploration drill run at its Matilda South Project in WA prospective for nickel, copper and cobalt: all battery metals. 

Dundas conducted a capital raise last November at $1.5m to secure the funds for mid-February drilling on-site. 

The WA government’s exploration incentive scheme (EIS) also allocated Dundas $180k to support the works, given that the Matilda South (MS) project is prospective for critical battery metals. (Cobalt, in particular, has diverse applications). 

RC rig up first 

Dundas is firing up a Reverse Circulation (RC) drill on-site at MS with a minimum of four holes up to 400m planned. RC drilling collects rock chips from underground. 

Bringing an RC rig to site is cheaper than a Diamond Drill (DD) rig which can typically perforate hard-rock deeper than RC rigs and return whole cylindrical cores to surface. 

Because DD rigs are more expensive, RC rigs are typically brought in to conduct first-pass drill testing of a suspected orebody underground (once surface sample evidence is collected, often backed up by first-step geomagnetic surveys). 

3D model to be tested 

The MS acreage already boasts a 3D mineral model indicating a commercial-scale deposit may be present on-site and at depth. 

WA’s EIS funding will be used directly to co-fund the rig carrying out the four-hole drill program. 

Dundas has planned for additional holes to be determined using data from the first four holes. 

While nickel, copper and cobalt are the big targets at MS, the company is also mindful of the potential for gold mineralisation. 

Dundas expects activities to wrap up in early March. 

Dundas Minerals' six month charts. Are investors overlooking the stock?
Dundas Minerals' six month charts. Are investors overlooking the stock?
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Dundas was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.


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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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