Desert Metals Starts Second Diamond Drilling Campaign at Ivory Coast Project; Shares Rise 5%

MT Newswires Live
06-19

Desert Metals (ASX:DM1) started its second diamond drilling program at the King Kong prospect within the Adzope gold project at the Ivory Coast, according to a Thursday filing with the Australian bourse.

The first stage of the program includes about 2,200 meters of drilling, and is expected to take about four to five weeks, the filing said.

The total program includes over 5,000 meters of drilling and is expected to take up to 12 weeks to complete, the filing added.

The company agreed to offset 50% of drilling costs through a drill-for-equity arrangement with the local contractor.

Initial assay results are expected in the September quarter, the filing said.

Shares of the company rose almost 5% in recent Thursday trade.

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