GreenTech jags multiple massive copper sulphide | Australian Markets

GreenTech Metals has jagged attractive visible intersections at its Whundo copper-zinc project in Western Australia’s Pilbara area from the primary two diamond drill holes in its 4000-metre stage two program.

The holes intersected thick zones of huge and semi-massive sulphides on the company’s Shelby and Austin targets, with huge sulphides from 280m and 598m downhole respectively. The hits look to include as a lot as 30 per cent chalcopyrite ore, often known as copper sulphide.

GreenTech says the outcomes affirm the down-plunge continuation of its mineralised shoots at Whundo, igniting hopes of a potential useful resource improve for the volcanogenic huge sulphide (VMS) project.

The company accomplished 1187m throughout the 2 holes. Shelby yielded a 10m true-width intersection of sulphides, whereas Austin delivered a 7.23m hit.

The mineralised zones comprise chalcopyrite, sphalerite, pyrrhotite and pyrite, which signal their strong copper and zinc potential, although all-important lab assays will likely be needed to pin down the grades.

We are going to proceed to discover the deeper reaches of the Austin, Shelby, Yannery and Ayshia VMS deposits, which characterize great potential to considerably develop the project assets based mostly on the dimensions of their related geophysical signatures and the outcomes of drilling. Based mostly on the assay outcomes and downhole electromagnetic (DHEM) surveys, additional drilling at Shelby and Austin could also be included as half of the stage two drill program.

GreenTech says the intersections validate its conceptual model of plunging mineralised shoots and problem an historic perception that useful resource growth at Whundo was already capped.

The company’s stage two marketing campaign kicked off in December final 12 months, with targets outlined by DHEM conductor plates at its Shelby, Austin, Yannery and Ayshia zones.

The design aimed to materially increase GreenTech’s current useful resource at Whundu of 6.19 million tonnes at 1.12 per cent copper and 1.04 per cent zinc, striving for the important 10mt mark, which signifies a 10-year life-of-mine operation.

The deepest gap at Shelby reached 815.7m, testing a conductor plate recognized from earlier geophysics, whereas Austin’s 371.4m gap hit its mark nearer to floor. Each holes are actually being prepped for follow-up DHEM surveys to look deeper and refine the following spherical of targets.

Regardless of delays from cyclonic climate and technical tweaks to keep the Shelby gap on target, GreenTech stays on monitor with its bold program. The company plans to leverage the pending assay outcomes and DHEM information to prioritise additional drilling throughout the underexplored quartet of prospects, which all stay open at depth.

The timing couldn’t be higher. Copper costs have surged to about US$9600 per tonne (A$15,100) – and Citibank analysts forecast it to push via the US$10k mark – pushed by world provide tightness.

GreenTech’s push to delineate a bigger useful resource base positions the company to capitalise on this development, particularly with strategic choices corresponding to its copper-focused alliance with Anax Metals and proximity to Artemis Assets’ Radio Hill processing plant, simply 10 kilometres away.

The company favourably accomplished a current $2.3 million capital raise alongside a drill-for-equity deal with its contractor Topdrill that underscores the market’s approval of its copper-zinc drilling applications.

With assays anticipated in weeks and DHEM surveys imminent, GreenTech and its supporters are desirous to see if the sulphide-rich hits translate into the high-grade numbers needed to raise Whundo into a severe standalone asset contender.

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