IRIS Metals is setting the scene for a major exploration initiative next year at its flagship Kookynie gold project in WA, closing out 2021 with a +1,000m aircore drilling program.

There’s just no rest for the recently listed, with IRIS Metals (ASX:IR1) securing the services of a drilling contractor to complete a short geochemical drilling program in the week leading up to Christmas.

IR1 is planning to test high-priority structural targets from a recent aeromag survey and geological field mapping, targeting project strike extensions along the corridors hosting historical gold workings at Rise & Shine, Dolly Grey, Whale and OD.

Despite the Kookynie gold district’s 100 year history of high-performance within the headline WA Goldfields region, Iris says it has a swag of never-previously-drilled targets.

 

Soil sampling, assays to wrap up maiden year

The campaign follows a 5950m RC program, with maiden results from the Lily prospect expected shortly, and will set the stage for a larger grassroots exploration program next year.

On top of that IRIS is aiming to line up a new set of targets through an initial soil sampling program at its Treasure-Whale leases, spanning an area of more than 2km2. “It has been approximately three months since IRIS’ IPO,” executive director Tal Paneth says.

“Since listing, the Company has completed a 5,950 metre RC drill program and finalised the interpretation of a high-resolution aeromagnetic survey at our flagship Kookynie Project.

“The Company has also applied for the prospective Providence Project in Menzies and is now commencing its first phase of what is a much larger scale regional aircore drilling program scheduled for commencement in early 2022.

Paneth’s team is already looking forward to the maiden RC drilling results and he expects to be able to update the market momentarily.

In fact Christmas probably can’t come slowly enough in what’s been a welcome example of a wonderful 2021.

IRIS shares have been highly sought, steadily trading at more than double the 20c listing price.

And along with major shareholder Paneth, the company is backed by some famed Aussie mining identities including substantial shareholder Levi Mochkin and non-executive chairman, De Grey’s Simon Lill.

This article was developed in collaboration with IRIS Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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