GreenTech Metals is bullish its Yannery copper prospect is shaping as a second major VMS discovery at its Whundo project, where it boasts a significant copper and zinc resource just 800m to the south-west.
All 15 holes from a maiden drilling program at Yannery struck copper mineralisation according to pXRF analysis, with assays for 541 samples now awaited.
The drilling has uncovered a large 100m wide mineralised zone which remain untested at depth, building on a history of drilling and mining at the prospect, where the old timers pulled out 1132t of ore at 21% copper.
Yannery looms as a major opportunity for GreenTech Metals (ASX:GRE) to bolster its Pilbara copper inventory, where the Whundo deposit hosts 3.6Mt at 1.2% copper and 1.4% zinc.
Not only has GreenTech identified the high grade mineralised horizon near surface which was historically mined at Yannery, but drilling has also provided early hints of a second mineralised zone, potentially extending at depth.
Maiden drill program
“Our recent maiden exploratory drill program at Yannery has not only confirmed significant copper mineralisation but has also provided important geospatial information relating to the nature and extent of the mineralisation,” GRE executive director Thomas Reddicliffe said.
“What we do know at this early stage is that Yannery is shaping up as another discrete Whundo cluster VMS deposit so we anticipate that the high-grade lodes reported both historically and more recently by Fox Resources will likely occur elsewhere within the larger mineralising event.
“Also, as at Whundo, we are seeing early evidence in the drilling of a second mineralised zone below that which was selectively mined.
“We are now looking forward to receiving the assay results to then be able to determine the next drill program required to unlock further potential at this prospect.”
High grade history
Yannery has a glittering history as a copper producer, and while small has previously been a high grade operation.
Located 800m from Whundo and 700m from Ayshia, Yaneery was mined intermittently between 1920-1958 for the aforementioned 1132t at 21% Cu.
Records show between 1952-1968 Yannery was also mined from the oxidised and supergene zone, delivering 1911.8t at 12.87% Cu, while underground workings including an adit and shafts are also present, limited to the near surface oxidised portion of the project.
Fox Resources drilled nine RC holes in 2006m hitting impressive grades and widths including 10m at 2.05% Cu from 40m, including 3m at 6.1% Cu, 1m at 3.16% Cu from 43m and 10m at 3.5% Cu from 39m including 4m at 8.3% Cu from 41m.
GRE is hoping to expand on the Fox holes with the recent 729m RC program, largely shallow because of the unpredictability of intersecting underground workings whose locations were not accurately known.
Initial visual results confirmed by the use of a pXRF analyser revealed a shallow copper mineralised horizon which was spatially consistent with both underground workings and the previous Fox drilling.
Three of its deeper holes have been prepared for an imminent down hole survey to map a deeper mineralised zone identified in drill testing.
Another prospect previously explorer by Fox at Bertram, south of Whundo, has been picked up by GreenTech, with follow-up exploratory work planned.
Fox prospected the area in 2008 and 2009, undertaking a VTEM survey and identifying four conductors near historic drilling which intersected 1.8m at 3.4% Cu from 22m.
This article was developed in collaboration with GreenTech Metals (ASX:GRE), 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.