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- Greenvale Mining (GRV) gears up for the next phase of drilling at its Georgina Basin iron oxide copper-gold (IOCG) project in the Northern Territory
- Drilling is expected to begin in May and will initially focus on the project’s Mawson and Banks prospects in the central tenement area
- GRV says the prospects have favourable IOCG mineral system features and aims to improve its knowledge to better define prospective rock units
- The company says it is “confident” Mawson and Banks possess the same IOCG-style geophysical and structural trends being targeted by neighbouring explorers
- GRV shares down 3.39 per cent to 28.5 cents
Greenvale Mining (GRV) plans to launch a new phase of diamond drilling in May at its Georgina Basin iron oxide copper-gold (IOCG) project in the Northern Territory.
The company said the coming NT field season marks a “pivotal development” in its exploration of the East Tennant province, with the opportunity for a significantly expanded program covering multiple targets following the limited round of two holes last year.
The planned drilling program will initially focus on a central tenement group of IOCG targets at the central Mawson and Banks prospects.
Early Greenvale geological interpretations suggest Mawson and Banks have favourable IOCG mineral system features, such as the presence of Warramunga Formation equivalents, nearby regional faults and granitic intrusive rocks, and prospective geophysical characteristics.
In the upcoming drilling campaign, the company hopes to improve its stratigraphic knowledge to identify the prospective rock units and test target areas delineated by detailed re-evaluation and remodelling of gravity and aeromagnetic surveys.
Greenvale said its prospects are located in close proximity to Middle Island Resources’ (MDI) Crosswinds prospect with reported surface copper mineralisation and Inca Minerals’
(ICG) Mount Lamb target.
The company was “confident” Mawson and Banks possess the same IOCG-style geophysical and structural trends being targeted by its neighbouring explorers.
GRV shares were down 3.39 per cent to 28.5 cents at 2:21 pm AEDT.
