Drill Rig Availability

Prairie Downs Metals Ltd, Colonial Resources Limited and Western Uranium Limited operate out of the same offices and use the same technical team. Among other benefits, the combined companies’ drilling budget for both RC and diamond is substantial and therefore of interest to drilling service providers in a market of very high demand and limited drill rig availability.

The companies have entered into an arrangement with Mt Magnet Drilling whereby Mt Magnet will provide a drill rig for exclusive use by the companies until the end of the calendar year. The benefits to all parties include increased productivity through increased co-operation on site, improved scheduling of program commencement, rig moves, timing of breaks for maintenance, leave etc, and improved morale for all operating personnel.

With booster, the drill rig in question (MP1300) can provide over 2,500cfm of compressed air, which leads to fast drilling and excellent sample integrity. It is currently being converted to enable diamond drilling while still retaining RC drilling capability. This rig is therefore very much suited to all the drilling that the three companies have planned for the foreseeable future.

Once the rig is converted it will move to Kalgoorlie in early June to commence a diamond drilling program at the Eldorado Project for Colonial Resources. Upon completion it will return to the Prairie Downs project for a further program of both RC and diamond drilling, expected to commence in early July. The schedule for the remainder of the year is still being planned but further drilling is expected at Eldorado and at the Coppermine Bore and Jillary Projects for Western Uranium.

Mt Magnet Drilling has provided drilling services of the highest standard to Prairie Downs Metals since 2005. On behalf of all companies we look forward to continuing this strong and mutually beneficial relationship.

Mark Hansen
Managing Director

For further information contact:
Elissa Samuel
Investor Relations Manager
esamuel@prairiedownsmetals.com.au