First Development starts phase one drilling at Lander West

(Sharecast News) - First Development Resources said on Monday that it has started a phase one reverse circulation drilling programme at its Lander West gold target within the Selta Project in Australia's Northern Territory. The AIM-traded firm said the programme will comprise up to about 3,000 metres of drilling across several high-priority targets identified through geological mapping, geochemistry, airborne magnetics and induced polarisation surveys.

Chief executive Tristan Pottas said the start of drilling marked "an important milestone for the Company" following months of exploration, technical work and permitting.

The programme will be completed in stages, allowing results from the initial holes to guide subsequent targeting.

At 1140 BST, shares in First Development Resources were up 2.64% at 2.72p.

Reporting by Josh White for Sharecast.com.

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