- Greenvale Mining (GRV) has announced new prospects at its wholly-owned Georgina Basin IOGC Project in the Northern Territory
- According to preliminary results, the first hole intersected strong altered sedimentary rocks and breccias, consistent with oxidised style Tennant Creek IOGC systems
- The hole extended roughly 80 meters past the original design due to prospective veining and alteration observed in the core around the 720-metre point
- After the results of these studies were interpreted, the company suggested the presence of multiple new high-priority targets to the drill testing pipeline
- Greenvale Mining shares are trading down 1.27 per cent at 39 cents a share
Greenvale Mining (GRV) has announced new prospects at its wholly-owned Georgina Basin IOGC Project in the Northern Territory.
GRV said it had completed the first diamond drill hole, with the second of the four planned holes currently underway. Assays are expected late this year or in early 2022.
According to preliminary results, the first hole intersected strong altered sedimentary rocks and breccias, consistent with oxidised style Tennant Creek IOGC systems.
The first hole targeted the ‘Twin Peaks’ West magnetic-gravity anomaly and has been drilled to the depth of 796 metres.
The hole extended roughly 80 meters past the original design due to prospective veining and alteration observed in the core around the 720-metre point.
In addition, geophysical data has been received for the airborne survey conducted at the Georgina Basin IOGC Project.
After the results of these studies were interpreted, the company suggested the presence of multiple new high-priority targets to the drill testing pipeline.
“It is very encouraging that the inaugural exploration hole to be drilled at Twin Peaks West
intersected not only the same rock types that host major IOCG deposits at Tennant Creek but also extensive hematite and chlorite alteration, which is associated with Tennant Creek-style IOCG deposits,” CEO Matthew Healy said.
“This is an exciting time for our shareholders as we look to finish 2021 on a high, with two
completed drill-holes at Twin Peaks, initial assay results on the way, and a maiden JORC
Mineral Resource Estimate nearing completion for the Alpha Torbanite Project in Central
Queensland.”
Greenvale Mining shares were trading down 1.27 per cent at 39 cents a share at 10:53 am AEDT.