Orange Minerals’ (ASX:OMX) Non-Executive Director, Conrad Karageorge, sat down with Sonia Madigan from The Market Herald to talk about the latest completed drilling campaign at its Wiseman’s Creek Project in New South Wales.
The project is a joint venture with Godolphin Resources that includes three exploration licenses targeting multi-commodity and deposit type targets such as gold and base metals.
The recent drilling campaign covered 1,000 metres to test historic workings on the property. The company was able to identify gold and polymetallic copper-zinc-lead at Wiseman’s during the early stage on development.
Records from historical mining and drilling dating give the company a sense of encouraging prospectivity. Since the 1960’s Wiseman’s Creek has been an active mining area with commodities such as gold, copper, tungsten, molybdenum, lead, zinc, and silver being exploited
Orange Minerals is currently waiting for drilling results from the maiden program.
Despite volatile market conditions, the company had been able to secure AU$5 million in funding to continue its exploration work. Challenges. Orange Minerals believes it is well positioned for growth, ongoing mining work as it is well-funded and currently faces no major challenges as it leads into its third drilling campaign this year at Wiseman’s.
The fact that gold has seen a huge run-in recent year is a hopeful sign for the company’s future. Conrad believes a large portion of gold industry is well positioned to be profitable with the current gold price.