Mount Ridley changes tack with drilling strategy

By Trevor Hoey. Published at Oct 20, 2016, in Small Caps

Nickel copper Explorer, Mt Ridley Mines (ASX:MRD) announced on Thursday morning that it was immediately commencing a new diamond drill hole (MRDD017) to further investigate promising results from MRDD016 (October 12), which were instrumental in the company’s share price doubling on the day of the announcement.

It was originally planned to conduct a downhole wedge to test a localised off-hole conductor detected in the initial drilling. Modelling of the target defined a local conductor at approximately 650 metres downhole, immediately off-hole below and to the east of MRDD016 as highlighted on the following model.

To gain a broader understanding of MRD, this particular exploration initiative and its overall portfolio click on this link.

While the upcoming drilling program will take approximately three weeks, the revised strategy is expected to prove more cost-effective. Consequently, some potentially market moving news could come to fruition in early to mid-November.

Any news is speculative at this stage therefore investors considering this stock for their portfolio, should seek professional financial advice.

MRD is certainly operating in a good location with its exploration initiatives in the Fraser Range region targeting nickel and copper sulphide deposits similar to those being developed by Independence Group (ASX: IGO) at its Nova project.

MRD has a tenement portfolio of approximately 1000 km2 in what is now recognised as one of the world’s most prolific emerging nickel and copper provinces. The company is also seeking to identify potential cobalt, gold and silver deposits through its exploration activities.

It should be noted that the outstanding share price rerating that occurred earlier in the month may not be replicated and investors shouldn’t use past trading patterns as an indication of future performance.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X