MALACHITE Resources resumed drilling at the Conrad mine 25kms south of Inverell last week.

The drilling resumed as part of Malachite’s exploration for silver.

Chief geologist Mike Donnelly said if sufficient resources were discovered then development of a mine was a real possibility.

“We are evaluating the project with the overall goal of redeveloping the Conrad mine,” Mr Donnelly said.

Malachite had been exploring the area since 2006 however the global financial crisis reduced the level of activity.

A $4 million funding boost by Malachite’s largest shareholder, Nanyang Mining Resources Investment has enabled the Conrad project to start up again.

Reverse circulation percussion drilling, which produces chip and dust samples, began on Tuesday.

A group of three contactors is operating the rig while a team of six Malachite employees are also working onsite.

The percussion rig will be used over the next few weeks before a diamond drilling rig will be used to produce samples of drill core.

Malachite is a Sydney- based company that actively explores for gold, silver, tin and copper mainly in the New England region.

Projects are currently taking place in Tooloom, Elsmore, Delungra and Rivertree.

The Conrad Silver project is a key asset for Malachite and although the Conrad mine has not operated for over 50 years, drilling showed a significant amount of silver, tin, copper, lead and zinc.

© 2010 Inverell Times

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