Greentech grabs the whole enchilada at its Whundo copper-zinc play
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Following a spate of drilling during the first quarter, Greentech has now achieved the minimum earn-in expenditure to acquire 100% of the Whundo copper-zinc project.
The company had first entered into an agreement with Artemis Resources Ltd in October last year to acquire the two mining licences and one miscellaneous licence that make up Whundo in Western Australia’s Pilbara region.
Greentech Metals (ASX:GRE) recently announced a maiden resource of 0.92Mt at 1.3% copper, 2.3% zinc, 0.1% lead, 0.2g/t gold and 12g/t silver, or a total of 33,000t of contained copper-zinc metal, for the Ayshia copper-zinc deposit.
This increased overall resources at the Whundo project up by a third to 3.6Mt grading 1.2% copper and 1.4% zinc.
Notably, this did not include the 32-hole drill program totalling 4,904m that Greentech completed across Whundo and Ayshia earlier this year, for which assays are still pending.
The company also has the exclusive right to earn up to 51% in the Osborne nickel project about 20km to the north of Whundo from Artemis Resources (ASX:ARV), which also owns Fox Radio Hill.
Greentech is currently gearing up to start a six-hole drill program to test a priority modelled conductor at the Osborne project.
The prospect is exciting as it is located in close proximity to the Andover Intrusive Complex, which is host to the Andover nickel-copper deposit being proved up by Azure Minerals (ASX:AZS), as well as the Ruth Well nickel-copper deposit 6km to the west.
GreenTech has an option agreement to earn up to 100% of Ruth Well.
This article was developed in collaboration with GreenTech 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.