Reward Minerals Ltd (ASX: RWD) today announced significant progress in its Newfoundland exploration, advancing closer to maiden drill testing of high-priority gold and copper targets. Reward, an ASX-listed advanced-stage sulphate of potash technology and development company, also owns a suite of early-stage mineral exploration projects in Newfoundland, Canada and Western Australia that are prospective for gold and base metal deposits. The company reported substantial steps in preparing for its initial drill programs, following extensive data compilation and logistical arrangements in the region.
Specifically, data compilation for the newly acquired Mountain Pond Gold Project has identified additional untested surface geochemical anomalies along the Sullivan Pond Fault corridor. This complements existing prospective ground for precious and base metals within the project’s 41 contiguous claims in central northern Newfoundland. Planning is now well advanced to commence further rock chip and soil sampling at both the Mountain Pond and Copper Lance projects in June. Drilling preparations have also progressed with the engagement of a highly experienced local diamond drilling and site preparation contractor, and local facilities in Springdale are secured for storage and core processing. The company highlights that this combined tenure has not been historically drill tested, presenting a significant discovery opportunity.
Reward CEO Lorry Hughes commented on the rapid progress, stating the company remains on track to confirm and expand several promising targets via sampling, followed by maiden drill programs this year. He expressed enthusiasm for establishing Reward in a new jurisdiction and advancing its growing portfolio of high-quality exploration assets, thanking local partners for their strong support. The upcoming field activities, expected to begin in late May or early June, will focus on follow-up sampling and designing site preparations for maiden diamond drilling, commencing with the Jackpot Gold Prospect within the Mountain Pond Project.
