Forgent (AIM:FORG), the AIM-listed critical and precious minerals explorer focused on Australia, said it expects to receive assay results for 56 holes from the Phase II drilling programme at its 99%-owned Peak Hill Gold-Copper Project in Western Australia by 25 October.
The batch covers all 30 Phase II holes drilled to date at the Curley's prospect, assayed for both gold and copper, plus the initial 26 holes at Cathedral, which is a large target area that had never been drilled before this programme.
The enlarged Phase II campaign is expected to total around 142 holes for around 9,400 metres, concentrated on Curley's and Cathedral.
Forgent increased its interest in Peak Hill from 51% to 99% in late August, whilst Phase II has already grown once since launch, expanding from around 130 holes for 8,700 metres to its current scope after additional step-out holes were added at Curley's following a site visit from the chief executive.
At Curley's, the current drilling is testing the continuity and scale of mineralisation found in Phase I, which returned a gold intersection of 2 metres at 3.68 g/t gold from 50 metres.
At Cathedral, which sits between the Curley's and Junction prospects, drilling has started on the western side of the target, aimed at building the company's first subsurface geological picture of the area.
Forgent told investors it would review the incoming assays alongside its geological interpretation and could adapt the remaining programme, including retargeting drill holes or enlarging the campaign further if results support it.
"The next assay results represent our first substantial body of Phase II data and have the potential to materially advance our understanding of the scale and continuity of the mineralised systems we are testing," said James Parsons, chief executive of Forgent.
Phase II drilling remains on track to conclude by the end of November.