Richmond Hill Resources (AIM:RHR) said on Wednesday that its drill crew has mobilised at the Sakoose target within the Martello Gold Project, with the rig expected to be in position this week.
The London-listed gold explorer is targeting the historic Sakoose mine near Dryden in north-western Ontario, where surface sampling earlier this year returned grades of up to 25.9g/t gold from an outcrop between two historic stope shafts.
The programme comprises nine diamond drillholes for approximately 1,400 metres from six drill pads.
Three holes are designed to provide modern verification of the main Sakoose vein at depths of roughly 80 to 150 metres vertical, while the remaining six will test the vein's continuity between these positions, its down-plunge extension to the west, its extension beneath the historical workings at Shaft 1, the eastern limit of the workings, and a structural zone where the vein is interpreted to widen.
Richmond Hill raised gross proceeds of £285,010 through a placing of 25.91m new shares at 1.1p each last month to fund general working capital and the Sakoose drilling, after securing a drilling permit valid until 20 July 2029.
The company had flagged drilling would begin by 30 November, subject to rig availability and ground conditions; assay results from the maiden programme mark the next catalyst once drilling concludes.
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