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- Clean Teq (CLQ) has announced it will drill a new platinum zone identified at its Sunrise Project in NSW
- Sunrise is one of the largest platinum resources in Australia, playing host to a significant resource of 103.1 million tonnes at 0.33 g/t platinum for 1,076,170 ounces of platinum
- While the newly classified Phoenix Platinum Zone has previously returned best results of two metres (from 20 metres) at 18.9g/t platinum, 1.1 per cent nickel and 0.07 per cent cobalt, for 37.8 g.m platinum
- Clean Teq said it plans to undertake further diamond drilling at the zone, as well as geophysics and metallurgy works
- Shares in CLQ are trading steady for 18 cents each
Metals recovery and water specialist Clean Teq (CLQ) will drill a newly outlined platinum zone at its flagship Sunrise Project in NSW.
Sunrise is one of the largest platinum resources in Australia, playing host to a significant resource of 103.1 million tonnes at 0.33 g/t platinum for 1,076,170 ounces of platinum.
The newly classified high-grade Phoenix Platinum Zone, which is located within Sunrise, was previously identified in the 1990s and 2000s, but hasn’t been extensively explored at depth.
The best result from the previous drilling at the zone intercepted best results of two metres (from 20 metres) at 18.9g/t platinum, 1.1 per cent nickel and 0.07 per cent cobalt, for 37.8 g.m platinum.
Clean Teq said given the high platinum grades near-surface and historic intercepts beneath the laterite, it has put together a program of work to further test the geology.
This includes diamond core drilling six holes to intersect the dunite structures at depth of around 400 metres to 600 metres. It also includes further geophysics and metallurgy works, some of which have already begun.
Clean Teq Co-Chairman, Robert Friedland, said this work program will address existing gaps in their knowledge of Sunrise.
“As I’ve said for years, despite being an incredibly valuable base metals resource, Sunrise is one of the best walk-up precious metal drill targets on the planet,” he said.
“It is astounding what little work has been done to test geological interpretations under the blanket of this laterite, despite very encouraging results from historical drilling,” he added.
The six-hole drilling program is expected to start sometime in the second half of 2020.
Shares in Clean Teq are trading steady for 18 cents per share at 9.38 am AEST.
