The drilling is designed to upgrade the 1.4 million tonne resource grading 7.5 grams per tonne (for 332,000 ounces), and is “expected to generate strong news flow over the coming weeks”.
The drilling follows a A$5.33 million fund raising last month that priced new shares at 10c.
Biddle paid about the same price for the 2 million shares he bought earlier this month, with the director also having outlaid more than $100,000 through December and January.
He currently holds 12.5 million shares in Spitfire, as well as five million performance rights.
Spitfire has various resources in the region north of Kalgoorlie and is working on the best way to develop a project given some of the mineralisation is refractory.
“We intend to bring a combination of creative ne...