ACDC Metals Limited (ASX: ADC), an exploration company focused on Heavy Mineral Sands, Rare Earth Elements, gold, and silver projects, has announced the immediate commencement of exploration at its Mount Jackson Gold-Silver Project in Nevada, USA. This swift action, following the project’s recent acquisition, includes the completion of an airborne geophysical survey, significant project area expansion, and an update on capital raising and a board change.
The company reported an airborne geophysical survey, encompassing magnetics and radiometrics, has been successfully completed across the expanded Mount Jackson Project area. Processing and interpretation of this data are now underway to define high-priority drilling targets. ACDC Metals CEO Tom Davidson expressed enthusiasm for the rapid work commencement, noting Nevada’s reputation as a favourable jurisdiction for exploration. The company is actively seeking a drilling rig.
ACDC Metals has significantly expanded its Mount Jackson footprint. After an initial acquisition, an additional 116 claims were staked, consolidating the project to 164 BLM claims, approximately 13.3 square kilometres. This expansion ensures control over prospective areas. Financially, a placement successfully raised $870,000 post fees, and a rights issue is planned to raise up to an additional $1.516 million.
Lastly, Non-Executive Director Mr. Ivan Fairhall resigned due to increased commitments elsewhere. Mr. Fairhall served on the board since January 2023. ACDC Metals Chair, Mr. Andrew Shearer, thanked Mr. Fairhall for his contribution. The board deems its current composition appropriate and will not appoint a replacement director at this time.
