First Development Resources Share News (FDR)

(Sharecast News) - First Development Resources said on Monday that it had appointed GD GeoDrill Australia as drilling contractor for its maiden phase-one reverse circulation drilling programme at the Lander West gold target within its wholly-owned Selta project in Australia's Northern Territory.

The AIM-traded, UK-based exploration company said the appointment followed the completion of the regulatory approvals required to start drilling at Lander West, and represented a significant operational milestone.

FDR said GeoDrill Australia was selected due to its technical capabilities, modern equipment fleet and track record of safe and efficient exploration drilling across Australia and within the Selta region.

The company said it had updated its risk management plan and emergency response plan to incorporate the requirements of RC drilling, with the documentation independently reviewed and certified by NT WorkSafe.

It said certification of the risk management plan authorised drilling to begin under an approved risk management framework, completing the principal regulatory approvals needed for the programme.

Chief executive Tristan Pottas said the appointment of GeoDrill Australia and the receipt of key approvals meant the company could now focus on final operational and logistical preparations ahead of mobilisation.

"Their combination of technical expertise, modern equipment and strong safety culture gives us confidence in the efficient execution of the programme," he said.

"We look forward to commencing drilling and delivering results to shareholders in the near term."

FDR said the Lander West phase-one RC programme had been designed as a targeted first-pass test of priority structural and geochemical targets identified through geological and geophysical interpretation.

The campaign would comprise up to 3,000 metres of drilling, including an initial priority phase and a flexible follow-up phase depending on field observations and results.

Targets had been refined using recently-completed aeromagnetic, radiometric and gradient array induced polarisation surveys, integrated with geochemical and historical drilling data.

The company said drilling would test major shear zones and fault intersections, magnetic anomalies interpreted as intrusive bodies and structural controls, coincident chargeability and magnetic anomalies linked to potential hydrothermal alteration, anomalous gold and arsenic geochemistry, and targets beneath shallow sediment cover.

Lander West is located within the broader Stafford Gold Trend, a mineralised corridor hosting gold and antimony mineralisation on neighbouring tenements.

FDR said recent drilling on nearby ground operated by iTech Minerals supported the prospectivity of the regional system and its targeting rationale at Lander West.

At 0932 BST, shares in First Development Resources were down 5.8% at 2.36p.

Reporting by Josh White for Sharecast.com.

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