G11 Resources - Significant Expansion Potential at Wilandra Copper Project
G11 RESOURCES LIMITED (G11) Share Update September 2024 Monday 9th
G11 Resources Announces Major Expansion Potential at Wilandra Copper Project
G11 Resources Limited (ASX: G11) has announced promising new findings at its Wilandra Copper Project, indicating a significant increase in the project's potential scale.
Instant Summary:
- New downhole electromagnetic (DHEM) plates identified at Wilandra.
- Discovery of a new mineralised system south of Peveril.
- Follow-up diamond drill testing to commence this week.
- Potential for multiple plunging, Cu-rich massive sulphide shoots along the Peveril structure.
Exploration Findings
G11 Resources Limited recently completed four deep and widely spaced diamond drillholes at the Wilandra Copper Project, with assays still pending. The company has identified new highly prospective downhole electromagnetic plates, significantly increasing the likelihood of multiple plunging, copper-rich massive sulphide shoots along the Peveril structure.
Additionally, a new mineralised system was discovered south of Peveril, with drilling intersecting a semi-massive sulphide lens that returned a highly conductive EM response. This discovery suggests the potential for a much larger mineralised system at Wilandra.
Immediate Actions
Follow-up diamond drill testing of these newly identified EM plates will commence this week. The company has prioritized this follow-up drill testing above previously planned programs at Black Hills and Cymbric Vale, with drilling set to start immediately.
The recent DHEM survey results validate G11's exploration model and strategy, as drilling has only tested approximately 1km of the 4km strike of the main system. This significantly increases the potential scale at Wilandra, making it the company's highest priority within its broader Koonenberry Project.
Technical Details
The exploration strategy aimed at testing the potential scale at depth of the 4km long Wilandra Central mineralised system has returned highly encouraging results. Three holes (GR24RCD001a, GR24RCD002 & GR24RCD003) were drilled as a proof of concept, targeting potential depth extensions of the outcropping Peveril mineralisation. DHEM surveys from these holes identified multiple in-hole and off-hole EM conductance plates underneath the shallow drill-defined mineralisation at Peveril.
Drill testing of the newly identified EM plates along strike to the northwest of the defined Peveril high-grade shoot will commence immediately. The identification of three plunging mineralised shoots below shallow drill-defined mineralisation from testing less than 1km of a 4km strike length is an exciting development within G11's Koonenberry Belt Project.
The identification of new EM plates and a potential new mineralised system at Wilandra could significantly enhance the project's value. This positive development is likely to boost investor confidence and potentially increase the company's stock price. The aggressive exploration strategy and immediate follow-up drilling indicate strong commitment and potential for future success.
Investor Reaction:
Analysts are likely to react positively to the news, given the significant increase in the project's potential scale and the discovery of a new mineralised system. The immediate commencement of follow-up drilling further underscores the company's proactive approach, which may be well-received by investors.
Conclusion:
Investors should keep a close watch on the progress of the follow-up drilling at Wilandra and the pending assay results. The promising findings and the company's strategic focus on expanding the project's potential make G11 Resources a stock to watch in the coming months.