- Metal recovery and water treatment company Clean TeQ Holdings (CLQ) has begun a six-hole diamond drilling program at the Sunrise Project in New South Wales
- Drilling is targeting dunite structures at depth in the Phoenix Platinum Zone
- The structures are proposed to be the source of platinum mineralisation in the Sunrise laterite at surface
- Historical intersections include 7.4g/t platinum, 0.13 per cent nickel and 0.01 per cent cobalt
- Additionally, Clean TeQ will conduct geophysical work over the Sunrise Project
- Company shares are up 8.20 per cent to trade for 33 cents
Metal recovery and water treatment company Clean TeQ Holdings (CLQ) has begun a diamond drilling program at the Sunrise Project in New South Wales.
The six-hole drilling program is aimed at intersecting dunite structures at a depth of between 400 and 600 metres within the Phoenix Platinum Zone. The structures are proposed to be the source of the platinum in the Sunrise laterite at surface.
The Sunrise laterite hosts 103.1 million tonnes at 0.33g/t platinum for 1,076,170 ounces of platinum using a 0.15g/t cut-off grade. This makes it one of the largest platinum resources in Australia.
While the average grade over the global resource is relatively low, there are areas of much higher-grade platinum mineralisation that exist within the resource envelope.
Historical drilling intersections include 7.4g/t platinum, 0.13 per cent nickel and 0.01 per cent cobalt, and 6.5g/t platinum, 0.15 per cent nickel and 0.01 per cent cobalt.
Drilling will test the mineralisation within this zone, while the program is expected to take around four months.
Additionally, Clean TeQ will conduct geophysical work including surveys and data reviews over the Sunrise Project.
Clean TeQ provides specialty metals and water treatment solutions to different industries using its Clean-iX ion-exchange technology.
The Sunrise Project falls under its metals division. Its water business is run by its subsidiary, Clean TeQ Water, and delivers water treatment solutions to the power, mining, and oil and gas industries.
Company shares are up 8.20 per cent to trade for 33 cents at 1:34 pm AEDT.