- Greenvale Mining (GRV) will begin a maiden diamond drilling program at its Georgina Basin Project in the Northern Territory
- Drilling will begin this month and will initially target the Twin Peaks magnetic anomalies
- An initial four holes have been planned across the Eastern and Western targets
- Additionally, a ground-based gravity survey has been completed with work confirming and strengthening the iron-oxide copper-gold targets
- Shares in Greenvale are down 2.33 per cent on the market and are trading at 42 cents at 10:35 am AEST
Greenvale Mining (GRV) is set to begin a maiden diamond drilling program at its Georgina Basin IOCG Project in the Northern Territory.
Drilling will begin this month with a focus on initially targeting the Twin Peaks magnetic anomalies.
Greenvale has received approval for its Mine Management Plan and Risk Management Plan, paving the way for work to begin around September 15.
An initial four holes have been planned across the Eastern and Western targets.
Additionally, a ground-based gravity survey has been completed with work confirming and strengthening the iron-oxide copper-gold (IOCG) targets.
initial analysis of the data has highlighted the presence of multiple major structures and stratigraphic trends which supports the possibility of the Georgina Project to host large-scale IOCG deposits.
Managing Director Neil Biddle is pleased to begin drilling considering the COVID-19 border restrictions and closures.
“Despite this being a remote and challenging area, I think our team has done an exceptional job in overcoming numerous logistical and border challenges to get this drill program planned, implemented and now on the verge of being delivered,” Mr Biddle said.
“Our initial program will focus on the large-scale magnetic and gravity targets which we call the Twin Peaks.
“The recently completed ground-based gravity program has helped us to refine these targets, which will be tested initially by four deep diamond holes commencing in the middle of this month.”
Shares in Greenvale were down 2.33 per cent on the market and were trading at 42 cents at 10:35 am AEST.