Cape Lambert Resources prepares for drilling at the Lady Annie Project

Australian resources and investment company Cape Lambert Resources (ASX: CFE) is nearing the commencement of exploration drilling at the Lady Annie Project, with the first reverse circulation drill rig scheduled to arrive in late February.
Shares in the company rose 1.5c to 61c during the morning trade.
Swick Mining Services has been contracted to undertake exploration drilling services over a two year period at the Lady Annie Project, which is located 120km north of Mt Isa in Queensland.
The two year exploration drilling program comprises approximately 70,000 metres of RC drilling and 10,000 metres of diamond drilling. The first of 3 drill rigs, comprising two RC and one DD rig, will arrive at Lady Annie on or about 24 February 2010 and will commence drilling shortly thereafter.
A second RC rig is scheduled to arrive in the second quarter 2010, and a diamond rig in May 2010.
RC drilling will initially focus on upgrading and adding to the currently defined resources at the Mt Kelly Mining Area, and upgrading and extending the defined resource at the Anthill – Python prospects, located to the south of the Mt Kelly Process Plant.
The scope of RC drilling will expand significantly with the arrival of the second RC rig, which will focus on testing highly prospective exploration targets on granted mining leases and exploration permits within the project area.  http://www.proactiveinvestors.com.au/companies/news/4247/cape-lambert-resources-prepares-for-drilling-at-the-lady-annie-project-4247.html