Anfield Resources Granted Drill Permit for Higginsville Gold Project

Drilling Program to Commence Shortly

Anfield Resources Ltd. (ASX:AHL) has received approval from the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS) for a drilling program at its Higginsville Gold Project in Western Australia. The program will comprise approximately 8,000 meters of reverse circulation (RC) and diamond drilling across several high-priority targets within the project area.

Background and Significance of Higginsville Gold Project

The Higginsville Gold Project encompasses a highly prospective land package of over 300 square kilometers located within the renowned Yilgarn Craton, a region known for its significant gold mineralization. The project area is surrounded by numerous operating mines and major gold discoveries, including Newmont Corporation's Boddington Gold Mine and St. Barbara Limited's Gwalia Gold Mine.

Exploration Targets and Objectives

The upcoming drilling program is designed to test a range of exploration targets identified through previous geological mapping, geochemical sampling, and geophysical surveys. These targets include:

Southern Cross Lodes: The Southern Cross Lodes are a series of historical gold workings located in the southern portion of the project area. The program will aim to delineate extensions of known mineralization and identify new gold-bearing zones.
Hope's Hill Intrusive Complex: The Hope's Hill Intrusive Complex is a large granite intrusion that has been identified as a potential source of gold mineralization. The program will test for gold-bearing veins and disseminations within and around the intrusive body.
Higginsville Shear Zone: The Higginsville Shear Zone is a major geological structure that extends through the project area. The program will target gold mineralization associated with shears and faults within the shear zone.

Drilling Methodology and Expected Timeline

The drilling program will utilize a combination of RC and diamond coring techniques. RC drilling is a quick and cost-effective method for initial target exploration, while diamond coring provides more detailed samples for geological analysis and assaying.

Drilling is expected to commence shortly and is anticipated to be completed within approximately three months. Assays from the program are anticipated to be received and interpreted over the following months, providing valuable insights into the gold potential of the Higginsville Gold Project.

Exploration Potential and Growth Prospects

Anfield Resources believes the Higginsville Gold Project holds significant exploration potential. The project area is under-explored compared to neighboring regions, and the company is confident that the upcoming drilling program will generate encouraging results.

Positive exploration outcomes could lead to the delineation of a significant gold resource at Higginsville, potentially unlocking value for shareholders. The company is committed to advancing exploration at the project and evaluating potential mining opportunities in the future.

Market Response and Investor Implications

The announcement of the drilling permit and upcoming program was met with positive sentiment in the market. Anfield Resources' share price experienced a rise following the news, reflecting investor optimism about the exploration potential of the Higginsville Gold Project.

Investors should note that exploration drilling involves inherent risks and uncertainties. While the company has identified promising targets, there is no guarantee that the program will yield positive results. However, the granting of the drilling permit and the potential for new gold discoveries at Higginsville make Anfield Resources an attractive investment proposition for those seeking exposure to the gold exploration sector.