Great Dirt Resources Identifies High-Grade Manganese at Basin Project
GR8 (GR8) Share Update October 2024 Wednesday 23rd
Great Dirt Resources Unveils High-Grade Manganese Discovery at Basin Project
Great Dirt Resources Limited (ASX: GR8) has announced a significant discovery of high-grade manganese mineralization at its Basin Project in New South Wales, with assays revealing manganese concentrations up to 54.5%.
Instant Summary:
- Massive manganese mineralization confirmed at Basin Farm and Girraween.
- Rock chip assays returned up to 54.5% manganese.
- New manganese occurrences identified to the west and north of Basin Farm.
- Site preparation at Doherty Project complete, drilling to start in early November.
Discovery Details
Great Dirt Resources Limited has made a significant breakthrough at its Basin Project, confirming massive manganese mineralization at both Basin Farm and Girraween. Preliminary investigations and rock chip assays have returned manganese concentrations as high as 54.5%, indicating a substantial presence of this valuable mineral.
The company collected a total of 10 rock chip and 127 soil samples from the Basin Project, focusing on areas of existing workings and other features of interest. The samples, particularly from the Girraween occurrences, showed manganese levels ranging from 45.1% to 52.4%, reinforcing the project's potential.
New Occurrences and Future Plans
In addition to the high-grade findings, new manganese occurrences have been identified to the west and north of Basin Farm, expanding the project's scope. The company plans to extend its soil program along the strike to further explore these promising areas.
Meanwhile, site preparations at the Doherty Project have been completed, paving the way for an initial drill program set to commence in early November. This drilling initiative aims to further delineate the extent of manganese mineralization and assess its commercial viability.
Strategic Importance
The Basin Project's findings are part of Great Dirt's broader strategy to explore and develop high-grade manganese resources. The company holds a 100% interest in the Doherty and Basin Manganese Projects, which are situated within tenement EL9527 in New South Wales.
The discovery of high-grade manganese mineralization at the Basin Project is a significant development for Great Dirt Resources. This could enhance the company's valuation and attract investor interest, given the growing demand for manganese in battery production and steel manufacturing.
Investor Reaction:
Analysts are likely to view this discovery positively, as it strengthens Great Dirt's resource base and potential revenue streams. However, the market will be watching closely for the results of the upcoming drilling program at the Doherty Project.
Conclusion:
Investors should keep an eye on Great Dirt Resources as it progresses with its exploration and drilling programs. The company's ability to capitalize on these high-grade manganese findings could significantly impact its market position and stock performance.