Firetail Resources (ASX:FTL) said exploration activities are progressing at its Picha copper project in Peru, according to a Wednesday Australian bourse filing.
The mining firm began an unmanned aerial vehicle magnetics geophysical survey to extend the current magnetics survey coverage across the new Anta Q'illqa target north of the project. Detailed geological and structural mapping of the target is in progress, and geochronology analysis samples have been selected for submission.
The firm expects to start a maiden drilling program at the Ichucollo target in the third quarter.
First-pass soil sampling is also being conducted to define the footprint of potential targets.
A comprehensive review of the Charaque silver-gold project exploration data is being conducted.
Firetail holds a 70% stake in the Picha project, while Thunderbird Resources (ASX:THB) has a 30% interest.
Its shares fell 8% on market close on Wednesday.
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