Join our daily newsletter At The Bell to receive exclusive market insights
- Greenvale Mining (GRV) begins a maiden diamond drilling program at its Georgina Basin IOCG Project in the Northern Territory
- Around 3000 metres of drilling will be undertaken with the first hole to target the Twin Peaks West magnetic-gravity anomaly
- Results are expected in late December or early January and once received will be assayed for gold, copper, bismuth and molybdenum mineralisation
- Data will be used to generate further targets to add to Greenvale’s existing pipeline with further work to consist of gravity surveying or direct drill targeting
- Shares in Greenvale are up 3.7 per cent and are trading at 28 cents
Greenvale Mining (GRV) has begun a maiden diamond drilling program at its Georgina Basin IOCG Project in the Northern Territory.
Drilling will be undertaken by experienced contractors Eagle Drilling who will use a track-mounted rig to ease access in the challenging terrain.
Around 3000 metres of drilling will be undertaken with the first hole to target the Twin Peaks West magnetic-gravity anomaly.
Twin Peaks is considered highly prospective for iron-oxide copper-gold (IOCG) targets due to the magnetic and gravity anomalism.
Results from this first hole are expected in late December or early January.
Once received, Greenvale will assay the samples for gold, copper, bismuth and molybdenum as well as other elements associated with IOCG mineralisation.
Data will be used to generate further targets to add to Greenvale’s existing pipeline with further work to consist of gravity surveying or direct drill targeting.
“Things are now rapidly falling into place at Georgina, after some incredible work from our field team and drilling partners, Eagle Drilling,” CEO Matthew Healy said.
“We are all now very much looking forward to seeing this high-impact 3000-metre diamond drill program can tell us about the potential of this region, and I am looking forward to reporting results as they come to hand.”
Shares in Greenvale were up 3.7 per cent and were trading at 28 cents at 12:28 pm AEDT.
