GREENVALE SET TO COMMENCE HIGH- IMPACT IOCG DRILL PROGRAM AT...

GREENVALE SET TO COMMENCE HIGH- IMPACT IOCG DRILL PROGRAM AT GEORGINA

Drilling scheduled to begin in mid-September initially targeting the “Twin Peaks” magnetic anomalies, where large gravity anomalies have also been defined

Highlights:
• Site preparations completed; field team in place. Technical team strengthened.

• Extensive ground-based gravity program completed with excellent results.

• Large-scale IOCG drill targets at “Twin Peaks” refined following the identification of coincident gravity anomalies.

• Initial four diamond holes planned across the Eastern and Western targets.

• High-resolution 12,618-line kilometre airborne, radiometric and geophysical survey expected to commence in the coming weeks.

• Drilling access and logistics facilitated by purchase of specialised equipment.

• Ongoing retort testing program the Alpha Torbanite Project has confirmed very high hydrocarbon grades. The program is well underway after delays due to COVID-19 related border closures, with the Feasibility Study now targeted for completion in March 2022.

Greenvale Mining Limited (ASX: GRV, “Greenvale” or “the Company” is pleased to advise that it is on track to commence its maiden diamond drilling program to test the first of a series of large-scale targets at its 100%-owned Georgina Basin IOCG Project (“Georgina” in mid September.

The commencement of the high-impact drill program marks the culmination of several months of logistical preparations by Greenvale at the Georgina Basin, ensuring that it has a strong platform in place to support the ramp-up of its exploration activities in the emerging East Tennant district – which has recently emerged as one of Australia’s exploration ‘hot spots’. Site preparations have been completed and the Company’s field team is in place.

An extensive ground-based gravity program has also been completed, returning highly encouraging preliminary results which have confirmed and strengthened the large-scale IOCG targets known as the “Twin Peaks” that will be targeted by the initial phase of drilling. The Company has further strengthened its technical team with the appointment of experienced Senior Project Geologist, Nicholas Ryan who, together with Greenvale’s new CEO Matthew Healy, will be responsible for leading the upcoming drill program.

The Company has also made a significant investment in specialised equipment to facilitate drill site access (see below), logistics and an exploration camp (Figure 1), demonstrating its commitment to being a long-term player in broader East Tennant area.

Greenvale has also received approval for its Mine Management Plan and Risk Management Plan, clearing the way for the drill program to commence on schedule around 15 September.



Pretty good news all round, with a fairly aggressive schedule. DFS delayed a bit, prob expected what with COVID etc.