(Alliance News) - First Development Resources PLC on Thursday provided an update on preparations for its drilling programme in Northern Territory, Australia.
First Development Resources, or FDR, the UK-based, Australia-focused mineral exploration company, said the new drilling programme, the maiden Phase 1 Reverse Circulation drilling programme at the Lander West gold target, is designed to "test recently defined high-priority" gold targets in the the Northern Territory of Australia.
The company noted that operational preparations advance apace, with Alice Springs, Australia-based Transport, Maintenance & Engineering Pty Ltd appointed as its preferred earthworks contractor on the project.
Additionally, FDR said that a site visit will commence next week and that all key regulatory approvals have been secured.
The company noted its improved understanding of the target site, saying recent studies have "significantly enhanced our understanding of the mineralised structural architecture at Lander West and strengthened confidence in the upcoming maiden drilling programme," according to Tristan Pottas, chief executive officer of FDR.
Drilling operations are set to begin later in 2026, while shares of FDR closed up at 2.85 pence each in London on Thursday.
By John Robaina, Alliance News reporter
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