ACDC Metals (ASX:ADC) announcement overview

ACDC Metals Limited (ASX:ADC) has released the results from aircore drilling at the Douglas heavy mineral sand (HMS) and rare earth element (REE) project in western Victoria, Australia. The company reported shallow high grade heavy mineral sand intersected at the Douglas project, with mineralisation interpreted to be of strandline style, similar to the nearby Dougals HMS Mine. The initial assays from 2338 meters of drilling have been received, and studies for the Goschen Central project and rare earth element processing plant remain on track for release in early 2024.

Executive commentary on the Douglas project results

ACDC Metals CEO Tom Davidson expressed satisfaction with the initial results, highlighting the proximity of the Douglas project to the former lluka Douglas mine and the potential for new mineralisation. Davidson also outlined the company's plans for the next drill campaign at the Douglas Project in early Q1 2024, emphasizing ACDC's successful listing on the ASX and the completion of the maiden drill campaign across their projects. He further stated that the company's 2024 plan aims to continue achieving the milestones outlined in the prospectus, with full funding for all activities.

Summary of ACDC Metals (ASX:ADC) announcement

ACDC Metals' announcement of high grade mineralisation at the Douglas project in western Victoria, Australia, indicates significant potential for the company. The results from aircore drilling have revealed shallow high grade heavy mineral sand, with mineralisation interpreted to be of strandline style, similar to the nearby Dougals HMS Mine. The company's CEO, Tom Davidson, expressed satisfaction with the initial results and outlined plans for the next drill campaign at the Douglas Project in early Q1 2024. ACDC Metals is fully funded for all activities and aims to continue achieving the milestones outlined in the prospectus for 2024.