Duke Exploration Ltd (ASX: DEX) company profile
Duke Exploration Ltd (ASX: DEX) is a mineral exploration and development company, with a 100% interest in the flagship Bundarra copper project in Queensland. The mineral field was recognised as the highest-grade copper district in Australia in the 1800s; there are 47 historic workings, including underground mines, across the tenement. DEX listed on the Australian Securities Exchange in Nov. 2020 after raising $8m.
The key elements of DEX strategy are:
- Develop an indicated (+inferred) mineral resource at the Mt Flora deposit to allow feasibility studies to be undertaken
- Discover and delineate new mineral resources from the currently known as well as newly defined drilling targets
- Drill the more conceptual exploration targets on the Prairie Creek Project and the Red Hill Project.
The key outcomes if successful are:
- Validation of the geological model and increased prospectivity at the Bundarra project
- Large scale mineral resource project likely to attract the interest of Australian mid-cap companies such as Sandfire Resources (ASX: SFR)
- Potential outcomes are company maker or take-over target
The initial exploration results bode well for the success of Duke’s strategy.