The company plans to put down 30 RC holes to test near-surface phosphate ore to the south of the deposit. The holes will be drilled on a rough 2.5km x 5km grid.
The multinational will also conduct mapping and rock chipping programs to test several discrete geophysical anomalies located away from the main drilling.
Rio can earn up to 80% of the project from Australian Kimberley Diamonds by free carrying AKD’s 20% interest in the project through to a decision to mine or by spending $10 million on exploration, whichever comes first.
