GreenTech Metals has completed maiden drilling at the Osborne nickel prospect JV in WA with Artemis Resources (ASX:ARV) and will now turn its attention to the Ruth Well deposit.
The company intersected the modelled electromagnetic (EM) conductor in the first RC drill hole with sulphides visually observed in RC chips over a 7m interval from 173m depth and the diamond drill core provided greater detail of the host rocks and the nature of the sulphide mineralisation associated with this conductive horizon.
And while the nickel and copper potential of the sulphides in the first drill hole was initially confirmed by handheld pXRF analyser, no significant nickel or copper results were reported in the laboratory analyses.
Untested targets at Ruth Well
The company is now switching focus to the Ruth Well nickel–copper deposit which has a JORC 2012 Indicated Resource of 265,000t at 0.4% copper and 0.5% nickel.
Plus, Artemis reported the results in 2018 including 13 metres at 2.14% nickel, 1.19% copper, 0.07% cobalt, 0.6 g/t gold, 0.6 g/t palladium from 55m (EWRC003).
“The maiden drilling at the Osborne prospect intercepted sulphides as modelled, but no significant copper or nickel mineralisation was encountered,” GreenTech (ASX:GRE) executive director Thomas Reddicliffe said.
“Subject to a review of all the exploration data by the team we are satisfied that we have used the appropriate exploration methodology and consider that the target has been adequately tested.
“GreenTech will keep a focus on this Ni-Cu terrain and going forward we have turned our attention to the nearby Ruth Well Ni-Cu deposit and the several untested conductor targets in its proximity, including Hickmott.”
A detailed 25m x 25m ground gravity survey was completed over the deposit, revealing an associated gravity response presenting as a gravity ridge and the data will now be assessed to plan a drill program to test these new Ruth Well nickel targets.
Whundo resource increase potential
Meanwhile GreenTech is eyeing an increase to its Whundo copper-zinc project in the Pilbara where it recently reported a highlight of 32m @ 2.43% copper – which confirmed the high-grade copper and zinc at Whundo persists at depth and beyond the current resource envelope.
There’s also the bonus gold grades of up to 3.34g/t, which accompany the higher-grade copper zones and “further enhances the potential economics of the project,” the company said.
Assay results from Whundo, and the nearby Ayshia deposit are pending, but once received, the company will look to update the existing resource at Whundo/Ayshia of 3.6 Mt at 1.2% copper and 1.4% zinc.
This article was developed in collaboration with Greentech Metals Ltd, 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.