- Greenstone Resources (GSR) defines three mineralised zones at the Mt Thirsty joint venture project in Western Australia
- The company received results from the lower, middle and upper zones, with the upper returning the sixth best cobalt intercept in Australia in 2022
- This drilling targeted potential extensions to Galileo Mining’s (GAL) nearby Callisto discovery, and while GSR says it’s yet to intersect high-grade PGE mineralisation similar to Callisto, it’s “encouraged” by the results so far
- Greenstone also drilled 11 holes targeting lithium-caesium-tantalum mineralisation but hasn’t received any significant results
- Company shares are up 28.6 per cent to trade at 3.6 cents at 12:00 pm AEDT
Greenstone Resources (GSR) has received assays for a further 22 holes drilled at the Mt Thirsty joint venture project in Western Australia.
Eleven of the holes targeted nickel-cobalt-scandium-platinum group elements (PGE) and the other half targeted lithium-caesium-tantalum (LCT) mineralisation.
The company said the phase one drilling program aimed to test the deeper ultramafic sill horizons at Mt Thirsty, including any potential extensions to Galileo Mining’s (GAL) Callisto discovery, which lies less than 200 metres away.
This drilling identified three discrete zones which include the upper, middle and lower horizons.
The upper zone returned an intercept of 78 metres at 0.11 per cent cobalt, 0.5 per cent nickel, 1.38 per cent manganese and 46.4 grams per tonne (g/t) scandium from 45 metres, including 15 metres at 0.45 per cent cobalt, 0.91 per cent nickel, 5.42 per cent manganese and 40.9 g/t scandium from 45 metres.
Greenstone said this was the sixth best cobalt intercept in Australia for 2022.
The middle zone returned ‘highly anomalous’ PGE mineralisation with an intercept of nine metres at 0.14 g/t 3E, 0.09 per cent nickel and 0.02 per cent copper from 223 metres.
The lower zone returned a result of 21.8 metres at 0.28 per cent nickel and 49.8 g/t scandium from 268.2 metres. This area lies outside of the existing resource which the company believes may support future optimisation opportunities.
“These most recent results continue to highlight the prospectivity of the Mt Thirsty project and, importantly, the suite of target commodities, all of which serve to play a critical role in the continued decarbonisation of our economy,” Managing Director and CEO and Chris Hansen said.
“While the joint venture has yet to intersect high-grade PGE mineralisation, similar to the neighbouring Callisto deposit, having intercepted the target horizon and high anomalous PGE mineralisation in a number of holes, we remain encouraged by these results.”
Assays are pending for all three zones.
As for the 11-hole LCT drilling program, the company said it didn’t receive any “significant” results, but is reviewing the data in detail given the known regional prospectivity for high fractionated and mineralised pegmatites.
Company shares were up 28.6 per cent to trade at 3.6 cents at 12:00 pm AEDT.