GCX Metals has a full basket of near-surface PGE targets to test at Dante
Special Report: GCX Metals’ recent reconnaissance work and review of historical drill data has identified several near-surface targets over 23km of strike across the priority Hyperion, Crius and Oceanus reefs at its Dante project.
Dante, which was acquired in August, marks GCX Metals’ (ASX:GCX) entry into WA’s West Musgrave province, where the foundational Giles Complex bears remarkable similarity to South Africa’s whopping 2.2 billion ounce platinum group elements (PGE) Bushveld Complex.
The project itself shares the same geological complex as Nebo-Babel, a mine tipped to deliver 28,000tpa nickel and 35,000tpa copper over a 24-year mine life.
Several large-scale nickel-copper-PGE targets as well as extensive PGE-gold reef targets have already been defined by previous exploration.
These include about 23km of outcropping mineralised strike where rock chip sampling has returned average assays of 1.1 grams per tonne (g/t) PGE, 1.13% vanadium pentoxide and 23.3% titanium dioxide with a top grade of 3.4g/t PGE.
GCX’s review of historical drilling has found that just six shallow holes were drilled over the extensive 23km of mineralised strike. Moreover, these holes were not drilled deep enough to intercept the downdip extensions of the target basal reef layer.
Despite this, the holes intersected strong platinum, palladium, gold and copper anomalism from surface and within the hanging wall.
The company has also identified what’s interpreted to be structurally thickened zones where historical systematic rock chip sampling returned average grades of 1.36g/t PGE over a 70m wide outcrop at the Oceanus 3D prospect, 1.03g/t PGE over 50m wide outcrop at Hyperion 1C, and 1.16g/t PGE3 over a 30m wide reef outcrop at Hyperion 1A prospect.
Stacked lenses of basal reefs extending up to 250m in width were identified during mapping at the Crius 2D and 2C prospects.
Importantly, the structurally thickened zones and stacked lenses of PGE reef add another layer of scale and further support the potential for a substantial, near-surface target.
Highlighting the scale of targets at Dante, managing director and CEO Thomas Line said the three priority reefs extend for the same distance required to drive from the Perth CBD to the city of Fremantle.
“Only six shallow drillholes have been drilled near these reefs historically, which all intercepted mineralisation despite not penetrating the target basal reef layer,” he said.
“The basal layer is interpreted to contain the greatest enrichment, which is supported by extensive historical surface sampling.
“The discovery of stacked PGE-reef lenses extending for up to 250m width, along with interpreted structurally thickened zones up to 70m in width and the presence of wall-rock mineralisation around the basal reef layer reinforces the significant resource potential of the untested PGE reefs at the Dante Project.
“What makes this even more compelling is that these targets outcrop, and there is therefore no overburden to consider.”
Line adds that some 250 rock chips collected in the recent reconnaissance program are progressing at the lab with results expected soon.
“This includes sampling from several gossans identified along the Hyperion and Crius reefs,” he said.
“The recently completed high-resolution airborne magnetics is currently being processed, and together with the rock chips samples will assist with further target generation and prioritisation at Hyperion, Crius and Oceanus.”
GCX is currently carrying out systematic target prioritisation ahead of maiden reverse circulation drilling in early 2024, which will test priority targets across the Hyperion, Crius and Oceanus reefs.
This article was developed in collaboration with GCX Metals, 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.