Highlights:

• 2,000m diamond drilling program has now commenced at the Santa Teresa Gold Project
• Drilling aims to:
  • Follow on prior drilling in key areas where high grade intersections such as ST-005 with 1m at 958.4 g/t were encountered (see Comet ASX announcement of 9 June 2020)
  • Test extensions of known gold mineralisation along strike and down dip
  • Expand knowledge of the structure of the veins and controlling features of the mineralisation

Comet Resources Limited (Comet or the Company) (ASX:CRL) is pleased to announce that diamond drilling has now commenced at the Santa Teresa Gold Project (the “Project”) in Baja California, Mexico. This drilling program is the first drilling at the Project to be undertaken by the Company and the first since the drilling undertaken by Premier Gold Mines in 2008.

The proposed program consists of 2,000m of diamond-core drilling using experienced contractors from the neighbouring state of Sonora. Drilling aims to test extensions of known gold mineralisation along strike and at depth, as well as target areas of interest identified from prior drilling results, combined with information gained from a detailed structural mapping completed by consultant geologists Minera Cascabel (see Comet ASX announcement of 3 February 2021). This will be followed by assaying and geological interpretation of the results.

Comet Managing Director, Matthew O’Kane, commented, “It’s exciting to commence our initial drilling program at Santa Teresa, with gold once again around US$1,900/oz. From the detailed review of the historical drilling, information gained by our geologists from mapping of outcrop at surface of numerous veins and historical artisanal workings, we have generated multiple targets to test. The diamond drilling will also give us further information and understanding of the structure and geometry of the veins. We look forward to completing this program and sharing the results of assays as soon as they are available.”

This announcement has been authorised by the Board of Comet Resources Limited

For further information please contact:

MATTHEW O’KANE
Managing Director
M: (08) 6489 1600
[email protected]
cometres.com.au
Suite 9, 330 Churchill Avenue Subiaco WA 6008
PO Box 866 Subiaco WA 6904

Competent Person Statement

The information in this announcement and the Company’s announcement dated 4 June 2020 that relates to exploration results in respect of the Santa Teresa Gold Project is based on information compiled by Mr Kristopher J Raffle, a Competent Person who is registered with the Association of Professional Engineers and Geoscientists of British Columbia (a Recognised Professional Organisation recognised by ASX),and is a principal of APEX Geoscientists Limited. Mr Raffle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ Mr Raffle has consented to the inclusion in the Company’s announcement dated 4 June 2020 and 9 June 2020 of the matters based on his information in the form and context in which it appears.

Forward-Looking Statement

This announcement includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Comet Resources Limited’s planned exploration programs, corporate activities and any, and all, statements that are not historical facts. When used in this document, words such as “could,” “plan,” “estimate,” “expect,” “intend,” “may”, “potential,” “should” and similar expressions are forward-looking statements. Comet Resources Limited believes that its forward- looking statements are reasonable; however, forward looking statements involve risks and uncertainties and no assurance can be given that actual future results will be consistent with these forward-looking statements. All figures presented in this document are unaudited and this document does not contain any forecasts of profitability or loss.

No New Information

To the extent that this announcement contains references to prior exploration results and Mineral Resource estimates, which have been cross referenced to previous market announcements made by the Company, unless explicitly stated, no new information is contained. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Original Article: https://mcusercontent.com/2fca36b6963d9ac563567f99e/files/e7c4d394-99f8-c1e1-5107-fe02f7ef0f9f/Drilling_Commences_at_Santa_Teresa_Gold_Project.pdf