- Heavy Minerals (HVY) “significantly” expands the mineralised footprint at its Port Gregory garnet and heavy minerals project in WA following a recently completed aircore drilling campaign
- The company says extension drilling covered a footprint 40 per cent larger than that of the originally reported exploration target, returning several high-grade, shallow total heavy minerals (THM) intercepts
- Notable intersections include 9.3 per cent THM over 12 metres from surface, 7.7 per cent THM over 15 metres from surface and 5.7 per cent THM over 27 metres from one metre down-hole
- Executive Director and CEO Nic Matich says the results “significantly bolster the prospectively of the project”
- HVY shares up 8.11 per cent higher to 20 cents
Heavy Minerals (HVY) has “significantly” expanded the mineralised footprint at its Port Gregory garnet and heavy minerals project in Western Australia following a recently completed aircore drilling campaign.
The program consisted of 83 holes for an aggregate drilling coverage of 2,927.8 metres.
The company said it conducted extension drilling to cover a footprint 40 per cent larger than that of the originally reported exploration target, returning several high-grade, shallow total heavy minerals (THM) intercepts.
Notable intersections from the program included 9.3 per cent THM over 12 metres from surface, 7.7 per cent THM over 15 metres from surface and 5.7 per cent THM over 27 metres from one metre down-hole.
Heavy Minerals said the extension drilling uncovered a larger, thick, high-grade mineralised sand package not previously identified or included in earlier exploration targets.
Mineralisation remains open to the north and south, according to the company.
Heavy Minerals said the areas would be targeted for follow-up drilling to determine the extent of the mineralisation.
Executive Director and CEO Nic Matich said the latest set of drilling results “can’t be understated”.
“Extending the mineralised footprint by this amount with high-grade, shallow mineralisation significantly bolsters the prospectivity of the project,” he said.
“As additional work enhances our understanding of the project, we are seeing more and more similarities with the other active garnet operations in the region.”
Later this month the company plans to table a maiden JORC mineral resource estimate for Port Gregory.
HVY shares were trading 8.11 per cent higher at 20 cents at 2:05 pm AEDT.