GreenTech Metals (ASX:GRE) has taken “significant steps” toward near-term production at its Whundo Project, with evaluations suggesting the copper-zinc exploration target “potentially supports larger-scale mineral systems.”
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“Our work to date has highlighted both shallow and deep mineralised areas for further drill testing,” GreenTech’s executive director, Tom Reddicliffe, said today.
The evaluation flagged several major points of interest, including shallow defined resources at the Whundo (both East and West) and Ayshia prospects, as well as known shallow mineralisation at nearby Yannery.
That shallow mineralisation immediately shapes as a key focus for the explorer.
So too deep copper-zinc mineralisation associated with each of the plunging mineralised shoots, though these are “not sufficiently defined at this stage.”
Across the whole historic West Pilbara exploration target, GreenTech is predicting there’s as much as 15 to 23 million tonnes with a target grade of 0.9% to 1.4% copper and 0.2% to 0.4% zinc. The metal content at the prospects is expected to come in at around 265,800 to 176,500 tonnes copper and 46,000 to 69,000 tonnes zinc.
Gold hasn’t been wrapped into any of the figures shared by GreenTech yet, but there were “some high-grade intercepts reported” near the copper mineralisation.
That’s not including Radio Hill, just 12 kilometres away either; it’s to be tested soon.
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“We are also fast-tracking our assessment of our previously reported Mineral Resources Estimates given the significant gold contribution, which we believe will potentially enhance in-ground value,” Mr Reddicliffe said.
“[This will] subsequently have a positive effect on modelling project economics.”
GRE has popped +5% on today’s news, selling at 4.2cps at lunchtime.
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Isaac McIntyre
The Market Online
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