• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login

    Investing News NetworkYour trusted source for investing success

    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Australia Market
    Australia News
    Australia Stocks
    • Australia Market
    • Australia News
    • Australia Stocks
    copper investing

    Santa Teresa Gold Project Drilling to Commence Q1 2021

    Lauren Kelly
    Dec. 15, 2020 04:27PM PST
    Australia Investing
    ASX:CRL

    Comet Resources Limited (ASX:CRL) is pleased to announce that its Project Manager for the Santa Teresa Gold project, Interminco Services Limited, has made significant progress in Baja California Norte, Mexico, having recently appointed a local geological consultant, Minera Cascabel, which operates a Joint Venture with the Imdex Group based in Tucson, Arizona.

    Highlights

    • Project Manager Interminco Services making significant progress on the Santa Teresa Gold Project in Baja California, Mexico
    • Appointment of local geological consultancy Minera Cascabel to assist with geological programs, including permitting of drilling
    • Drilling expected to commence in Q1 2021
    • Prior to drilling, a mapping and trenching program focussed on vein outcrops will assist with final drill-hole positioning
    • Ecological Survey completed as part of drilling permitting process
    • Initial 50% purchase of Santa Teresa now completed

    Comet Resources Limited (Comet or the Company) (ASX:CRL) is pleased to announce that its Project Manager for the Santa Teresa Gold project, Interminco Services Limited, has made significant progress in Baja California Norte, Mexico, having recently appointed a local geological consultant, Minera Cascabel, which operates a Joint Venture with the Imdex Group based in Tucson, Arizona. The group is staffed by veterans of Northern Mexico exploration.

    Minera Cascabel will assist Interminco with all geological programs, including permitting for drilling. Interminco have also recently concluded negotiations for surface rights access agreements with local landowners, which are now being documented by the Company’s Mexican legal counsel.

    Matthew O’Kane, Managing Director of Comet Resources, said “It’s great to have boots on the ground pushing forward to drilling for Q1 next year, and to be finalising plans for a number of geological work programs at Santa Teresa. I am very pleased with the expediency of work from Interminco and have great confidence in our recent appointment of Cascabel – Imdex as Geological Consultants.”

    Ecologists have also visited site to conduct the formal survey required as part of the drilling permitting process. Sources of water for drilling have been identified, and roads improved to facilitate access to site. Old drill-hole collars have been inspected and they remain in excellent condition. Inspection of the old core has revealed that this was stored competently and will be a useful reference for further work including metallurgical testing. Prior to drilling, old trenches will be cleaned, deepened and sampled to improve the quality of the GIS database and enable precise placement of the drilling holes. Survey and GPS equipment has arrived on site and is being utilised by the Minera Cascabel staff.

    The combined office/accommodation centre in Ensenada is equipped and has been functioning as of Monday the 23rd November 2020. Interminco is evaluating the potential, after the initial drilling programme, to dewater historical workings for survey, mapping and sampling and establish underground drilling platforms which will greatly reduce drilling costs and improve the accuracy of the drilling.

    The balance of the consideration for the initial 50% interest in the Santa Teresa Gold Project has now been paid upon satisfaction of the conditions subsequent.

    This announcement has been authorised by the Board of Comet Resources Limited.

    For further information please contact:
    MATTHEW O’KANE
    Managing Director
    (08) 6489 1600
    comet@cometres.com.au
    cometres.com.au
    Suite 9, 330 Churchill Avenue Subiaco WA 6008
    PO Box 866 Subiaco WA 6904

    Click here for the full ASX announcement

    copper investingasx:crl
    The Conversation (0)
    Go Deeper
    AI Powered
    Gold nuggets on dark ground.

    Top 5 Junior Gold Mining Stocks on the TSXV in 2025

    Heliostar to Restart Mining Operations and Invest in Growth at Its San Agustin Mine, Durango

    Heliostar to Restart Mining Operations and Invest in Growth at Its San Agustin Mine, Durango

    Latest News

    Incentive Regime for HMW Project in Argentina

    EUR Sells 0.5m CRML Shares for U$1.8m (A$2.7m)

    Trading Halt

    Lo Herma Drilling Permit & Contract Confirmed

    Sarama Resources Completes Mt Venn Gold Project Acquisition

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Australia Investing Stocks

    Blackstone Minerals

     
    BSX:AU

    Osisko Metals: Pure Potential

     
    OM:CA

    Los Andes Copper

     
    LA:CA

    Questcorp Mining

     
    QQQ:CC

    Cygnus Metals

     
    CYG:CC

    Redstone Resources

     
    RDS:AU
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×