First Development Resources Share News (FDR)

(Alliance News) - First Development Resources PLC on Thursday announced "the next step" in its approach to advancing its gold exploration strategy at Selta in the Aileron Province in Australia's Northern Territory.

The explorer for critical minerals and rare-earth elements in Western Australia and Northern Territory said the gradient array induced polarisation geophysical survey is scheduled to advance the phased gold exploration strategy at Selta.

Meanwhile, integration of geophysical and historical datasets is expected to refine and prioritise potential drill targets, which the firm said is informing the next phase of exploration.

Chief Executive Officer Tristan Pottas said: "Today's announcement represents the next step in the company's phased and disciplined approach to advancing its gold exploration strategy at Selta. The gradient array induced polarisation geophysics survey complements the airborne magnetic survey currently underway and, together, these programmes are designed to enhance our understanding of the subsurface geology across the Lander West gold target.

"The integration of these datasets is intended to refine and prioritise target areas, increase confidence in their exploration potential and support informed decision-making as we progress our exploration at Selta. This work represents a key step towards the definition of robust drill targets and underpins our objective of systematically advancing Selta through the exploration pipeline."

First Development shares closed 3.9% higher at 2.81 pence each on Thursday in London.

By Tom Budszus, Alliance News slot editor

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