Carpentaria Exploration director Mike Chester retires from the board

Carpentaria Exploration (ASX: CAP) has announced that the foundation board member Mike Chester has retired from the board - for personal reasons.

The board thanked Chester who helped the company evolve from a explorer to discoverer.

Carpentaria is currently undertaking some very interesting exploration programs, and just last month allocated a substantial $3.5 million budget for greenfields exploration in financial year 2012.

The budget is to continue aggressive exploration across eastern Australia, which excludes the Hawsons Iron Project pre-development costs.

Carpentaria already has a selection of priority drilling targets identified at the Koonenberry Nickel and Temora Gold Projects, with the Yanco Glen and Apollyon tin-tungsten projects near Broken Hill to be advanced.

At Koonenberry the company has an extensive footprint of 1800 square kilometres, which comprises six new exploration licenses, with a high priority prospect including Mt Arrowsmith East.

Boosting the prospectivity at Mt Arrowsmith East is a past sulphide bearing drill intersection of 22 metres at 0.23% nickel and 0.18% copper was recorded in a deformed ultramafic intrusion, which is part of a 7 kilometre geological belt containing similar intrusions.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/18451/carpentaria-exploration-director-mike-chester-retires-from-the-board-18451.html