GreenTech Metals limbers up for more drilling at copper VMS project

GreenTech Metals to start second round of drilling at Whundo this month
Company looking for VMS clusters at copper-zinc project
Topdrill engaged to conduct drilling program

Special Report: GreenTech Metals is gearing up to commence its second drilling program at the Whundo volcanogenic massive sulphide copper-zinc project in WA, with the aim to confirm resource expansion potential.

The program follows a successful maiden program in July which returned:

16m at 1.2% copper, 0.12% zinc, 0.035g/t gold from 230m, including 8m at 1.5% copper, 0.21% zinc, 0.039g/t gold from 230m, and 3m at 2.13% copper, 0.2% zinc, 0.043g/t gold from 235m (Austin shoot); and
10m at 1.2% copper, 1.2% zinc, 0.09g/t gold from 260m, including 3m at 3.1% copper, 2.6% zinc, 0.23g/t gold from 261m (Ayshia shoot).

The project comprises six known mineralised copper-zinc shoots: Whundo East, Whundo West, Austin, Shelby, Yannery and Ayshia occur over a strike of 2km.

However, a further combined 2km of this prospective zone remains open to both the west and the east and the company says the close spatial relationship between the known mineralised shoots suggest they are potentially part of a large VMS type mineralising event which remains open along strike and at depth.

GreenTech Metals (ASX:GRE) drilling will comprise up to 4000m of diamond core drilling, targeting the extension of under-explored mineralised shoots at Austin, Shelby, Yannery and Ayshia, with follow up downhole electromagnetic (DHEM) surveys planned for selected holes.

Whundo resources, prospects and targets over electromagnetic image. Pic: GRE.

Resource growth could boost project economics

VMS style mineralisation often occurs in clusters, and the company is confident discovering multiple deposits could boost the project’s economics.

“Following hot on the heels of a successful first stage of drilling, this next campaign will get underway this year to further test potential extensions to the mineralised shoots comprising the Whundo VMS cluster,” GreenTech executive director Tom Reddicliffe said.

“In particular, we eagerly await the outcome of testing the exceptional Shelby conductor which eclipses other targets in the field with respect to its scale.

“This target is a clear standout and will be a priority to be drilled.

“Given the nature of VMS clusters, and the multiple opportunities for resource growth we believe a project with around 10-15Mt would make a significant difference to the economics of the Whundo copper project and represents a potentially achievable target for exploration going forward.”

Contractor Topdrill has been engaged to commence drilling this month, with the program funded by the company’s recent $2.3m placement, a $1m drill-for-equity agreement with Topdrill plus an exploration incentive scheme grant of up to $140,000 from the WA Government.

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.