Chatham Rock Phosphate Ltd. has achieved several new milestones at Korella South.
Following the end of the wet season, exploration activities have commenced.
With pegging of the first 18 drill hole sites completed, the Yulluna people, the native title holders, have undertaken a detailed inspection and cultural clearance of these drill sites and the related access tracks.
Over the past three days the six kilometres of access tracks leading to all drill sites have been graded and drill pad areas established.
With all exploration activities taking place in the dry season, as evidenced by no rain for the past 11 weeks, the areas around the drill pads have been cleared to minimize risk of grass fires.
Korella South exploration activities take place within Chatsworth station under a registered access and compensation agreement with Cloncurry-based MDH Pty Ltd. Chatsworth is one of eight properties held by MDH in what is one of Australia’s largest cattle operations.
Drilling will now take place, with the first program being approximately 15 reverse circulation sample drill holes and three air cored large-diameter diamond holes (PQ-sized cores).
This first drilling program is expected to be completed by end of July.
The prefeasibility study for the two-million-tonne-per-annum Korella South export mine can now commence. This is expected to be completed by September, 2023.
About Korella South
Shareholders will recall that in December, 2021, the company announced the application for an area of 196 square kilometres south of Phosphate Hill, Queensland, designated Korella South.
The exploration area Korella South EPM28187 was granted to Chatham’s wholly owned Australian subsidiary Avenir Makatea Pty. Ltd. in December, 2022.
The permit covers an area that has been subject to considerable past exploration for a variety of minerals, within and adjacent to the Georgina basin. Based on the body of geological knowledge that currently exists concerning Korella South, the ground is highly prospective for both rock phosphates and rare earths.
The strong relationship between phosphate and rare earth elements (REE) has been the subject of considerable study by the Queensland Geological Survey, which has opined that the southeastern rim of the Georgina basin, that centres on Korella South, provides the highest concentration of REE in the Georgina basin.
