Forgent to start drilling at Peak Hills project

(Sharecast News) - Forgent said on Friday that drilling at its Peak Hills gold-copper project in Western Australia was scheduled to start within two weeks after approval of the programme of work.

The AIM-traded technology-led energy transition company said final planning for the first-phase drill programme was substantially complete, with aircore drilling expected to begin in the week of 21 June and run for around three weeks, subject to operational and weather conditions.

Forgent said the programme had been expanded to about 42 drill holes, with a maximum depth of 100 metres, covering 2,860 metres of drilling.

The work would target seven priority areas across the Karalundi, Junction and Curley's prospects, comprising two target areas at Karalundi, four at Junction and one at Curley's.

The programme is designed to verify anomalous historic gold and copper results, improve geological understanding and test potential extensions to mineralisation in multiple directions.

Samples would be sent for laboratory analysis after drilling is completed, with initial assay results expected in early August.

Chief executive James Parsons said the company was "moving at pace" following permitting and final drill planning, adding that the timetable reflected the supportive regulatory framework.

"The programme is primarily targeting seven priority areas associated with some of the most encouraging historic gold and copper results across the project," Parsons said.

"As the company's first drilling campaign, Peak Hills represents an important milestone in our journey."

Peak Hills covers about 163 square kilometres across five granted tenements in Western Australia.

Forgent currently holds a 51% interest in the project and has an option to increase its ownership to 99%.

At 1123 BST, shares in Forgent were up 4% at 0.02p.

Reporting by Josh White for Sharecast.com.

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