AI assistant
GREENTECH METALS LIMITED — Capital/Financing Update 2023
Feb 7, 2023
65012_rns_2023-02-07_37e3e927-d710-41d0-bac3-7447a0bc1e76.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
8 February 2023
DRILLING COMMENCES AT WHUNDO COPPER PROJECT
Highlights:
-
Drilling has begun at Yannery to the north-east of Whundo copper mine
-
Yannery prospect was mined in the 1920’s & 1950’s with high grades of 13%-21% Cu reported
-
Program targeting extensions to known mineralisation near historical copper workings
-
Additional hole to be drilled at Whundo targeting strong EM conductor identified last year
• Potential to increase combined Whundo mineral resources
GreenTech Metals Ltd (ASX: GRE), (‘ GreenTech ’ or 'the Company ') is pleased to announce the commencement of the Company’s maiden drill program at the Yannery copper prospect, located between the Company’s Whundo and Ayshia Cu-Zn deposits.
The Whundo project comprises a cluster of associated VMS style Cu-Zn deposits along a strike length of ~2kms. There is potential to significantly increase the copper resource by way of systematic exploration guided by the use of modern geophysical techniques.
BOARD & MANAGEMENT
CONTACT US
Mark Potter Guy Robertson Dan Smith [email protected] ASX: GRE Non-executive Chairman Non-executive Director Company Secretary greentechmetals.com.au Thomas Reddicliffe Rod Webster Executive Director Non-executive Director
Level 8, 99 St Georges Tce, Perth WA 6000
ASX:GRE
==> picture [373 x 292] intentionally omitted <==
Figure 1: Whundo project
Underground workings comprising an adit and shafts of limited depth are present which are limited to the near surface oxidised portion of the prospect. There are also records of intermittent production in the period 1920-1958 of 1132 tonnes of copper ore averaging 21% Cu, and in the period 1951-1968 a further 1911.8 tonnes of cupreous ore averaging 12.87% Cu was reported from the oxidised and supergene zone[1] .
More recent exploration by Fox Resources Ltd in 2006 delineated mineralised zones within the Yannery prospect outside of the historically mined area, which demand follow-up exploration[2] . Located approximately 800m from the Whundo pits and 700m from Ayshia, Yannery provides exploration upside within the overall Whundo mineral field.
The previous work by Fox included RC drilling for a total of nine holes, fixed loop electromagnetic (FLEM) survey and down hole electro-magnetic (DHEM) surveys.
1 ‘Yannery Hill Copper Mine’, Mindat.org
2 ‘Down Hole and Surface Electromagnetic Surveys in Progress at Yannery’, Fox Resources Ltd ASX Announcement 2012
Greentech Metals Limited | ACN 648 958 561 | Level 8, 99 St Georges Tce, Perth WA 6000
2
ASX code: GRE | +61 8 9486 4036 | [email protected]| www.greentechmetals.com.au
ASX:GRE
==> picture [405 x 278] intentionally omitted <==
Figure 2: Yannery prospect (Fox Resources 2006)
GreenTech expects the program at the Yannery prospect will provide a better understanding of the geometry and thickness of the mineralised horizon and potentially extend known mineralisation.
As part of this program, a further hole will be drilled at Austin which will target the highly conductive plate identified from the DHEM survey completed on hole 22GTRC033 which was drilled last year.
Greentech Metals Limited | ACN 648 958 561 | Level 8, 99 St Georges Tce, Perth WA 6000
3
ASX code: GRE | +61 8 9486 4036 | [email protected]| www.greentechmetals.com.au
ASX:GRE
==> picture [479 x 359] intentionally omitted <==
----- Start of picture text -----
Ayshia Prospect
----- End of picture text -----
Figure 3: Yannery historic workings in foreground and Ayshia Prospect in the distance
==> picture [479 x 258] intentionally omitted <==
Figure 4: Repairing access track at Yannery
Greentech Metals Limited | ACN 648 958 561 | Level 8, 99 St Georges Tce, Perth WA 6000
4
ASX code: GRE | +61 8 9486 4036 | [email protected]| www.greentechmetals.com.au
ASX:GRE
==> picture [491 x 368] intentionally omitted <==
Figure 5: Drilling at Austin Target
This announcement is approved for release by the Board of Directors
ENDS
For Further Information:
Mr Thomas Reddicliffe Mr Dan Smith Executive Director Company Secretary +61 8 9486 4036 +61 8 9486 4036 [email protected]
About GreenTech Metals Limited
The Company is an exploration and development company primarily established to discover, develop, and acquire Australian and overseas projects containing minerals and metals that are used in the battery storage and electric vehicle sectors. The Company’s founding projects are focused on the underexplored nickel, copper and cobalt in the West Pilbara and Fraser Range Provinces.
The green energy transition that is currently underway will require a substantial increase in the supply of these minerals and metals for the electrification of the global vehicle fleet and for the massive investment in the electrical grid, renewable energy infrastructure and storage.
Greentech Metals Limited | ACN 648 958 561 | Level 8, 99 St Georges Tce, Perth WA 6000
5
ASX code: GRE | +61 8 9486 4036 | [email protected]| www.greentechmetals.com.au
ASX:GRE
Competent Person Statement
Thomas Reddicliffe, BSc (Hons), MSc, a Director and Shareholder of the Company, is a Fellow of the AUSIMM, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Thomas Reddicliffe consents to the inclusion in the report of the information in the form and context in which it appears.
Greentech Metals Limited | ACN 648 958 561 | Level 8, 99 St Georges Tce, Perth WA 6000
6
ASX code: GRE | +61 8 9486 4036 | [email protected]| www.greentechmetals.com.au