First phase drilling has intersected semi-massive and heavily disseminated sulphides in all holes with a further fifteen holes planned over the next six to eight weeks.

The Mt Thirsty Joint Venture (Greenstone 50%: Conico 50%) is testing for extensions to the recent palladium-platinum-gold-copper-nickel (PGE) discovery by Galileo Mining (ASX:GAL), less than 200m away from the northern tenement boundary.

All five holes completed to date have intersected wide zones of semi massive and heavily disseminated sulphides, serving to define a prospective horizon of at least 300 x 400m on the Mt Thirsty tenure.

Conico (ASX:CNJ) executive director Guy Le Page says the phase-II drill campaign will be fast-tracked pending the receipt of initial assays.

Highlights package

Highlights from the latest round of diamond and reverse circulation drilling in the include:

  • 127.3m of disseminated sulphides from 178.4m including 37.1m of heavily disseminated from 268.6m;
  • 122m of disseminated sulphides from 227m, including 19m of heavily disseminated from 227m; and
  • 51.6m of disseminated sulphides from 227m, including 34.3m of heavily disseminated sulphides from 232m.

What’s next?

Drilling continues schedule however the upcoming program will shift focus further south and east, supported by a smaller multi-purpose drill rig which will be mobilised later this week.

Assays for holes MTRC003D, MTRC007D, MTRC009D and MTRC014D are expected within the next three to six weeks and will be assayed for palladium, platinum, gold, copper, nickel, and rhodium, with results to be periodically released.




This article was developed in collaboration with Conico, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.