GreenTech Metals Unveils Significant Copper Resource Expansion at Whundo
GRE (GRE) Share Update September 2024 Wednesday 18th
GreenTech Metals Announces Promising Whundo Copper Results
GreenTech Metals Limited (ASX: GRE) has announced promising results from its recent drilling program at the Whundo Copper Project, indicating significant potential for resource expansion.
Instant Summary:
- 1,710m RC drilling program at Whundo Copper Project reveals high-grade copper intercepts.
- Significant results include up to 4.6% Cu in mineralized shoots Austin and Ayshia.
- DHEM surveys confirm continuation of Cu-Zn mineralization down-dip beyond 230m depth.
- Large conductor plate identified at Shelby with a conductive response over 15,000 siemens.
- Planning underway for the next stage of drilling to further expand copper resources.
Drilling Results
GreenTech Metals Limited (ASX: GRE) has reported final assay and DHEM survey results from its 1,710m RC drill program at the Whundo Cu-Zn project, completed in early July 2024. The program, comprising five drill holes, successfully intersected thick intervals of Cu-Zn mineralization.
At Austin, drill hole 24GTRC001 intersected 16m @ 1.2% Cu, 0.12% Zn, 0.035g/t Au from 230m, including 8m @ 1.5% Cu, 0.21% Zn, 0.039g/t Au. Previous high-grade results included 6m @ 2% Cu from 226m, with a peak of 5.4% Cu.
At Ayshia, drill hole 24GTRC004 intersected 10m @ 1.2% Cu, 1.2% Zn, 0.09g/t Au from 260m, including 3m @ 3.1% Cu, 2.6% Zn, 0.23g/t Au. Previous results highlighted 23.7m @ 3.2% Cu from 209m and 13.97m @ 3.4% Cu from 243.63m.
Survey and Future Plans
DHEM surveys confirmed the continuation of Cu-Zn mineralized shoots down-dip at Austin and Ayshia beyond 230m depth. At Shelby, a large conductor plate (>400m x 50-100m) was modeled with a conductive response over 15,000 siemens, indicating greater potential than previous responses.
GreenTech's Executive Director, Tom Reddicliffe, expressed enthusiasm about the results, stating, 'We’re thrilled with the stage one drill results, which show real potential to significantly grow Whundo’s current 6.2Mt copper-zinc resource by targeting down-dip extensions to our known shoots.'
Planning is underway for the next stage of the drill program to further expand the copper resource. The Whundo project is situated on a granted mining lease with processing options potentially available through alliances with ANAX or Artemis Resources’ Radio Hill processing plant.
The announcement of high-grade copper intercepts and the confirmation of mineralization continuity at depth are likely to positively impact GreenTech Metals' stock. The potential for significant resource expansion at Whundo could attract investor interest and boost market confidence in the company's future prospects.
Investor Reaction:
Analysts are expected to react positively to the news, noting the significant potential for resource expansion at Whundo. The confirmation of high-grade copper intercepts and the continuation of mineralization at depth are key factors that could drive investor enthusiasm.
Conclusion:
Investors should keep an eye on GreenTech Metals' upcoming drilling plans and potential resource updates. The promising results from the Whundo Copper Project highlight the company's growth potential in the copper and zinc sectors.