Image Sourced Greenpower Energy Limited
Market Herald logo


Be the first with the news that moves the market
  • Greenpower Energy has announced varying copper, zinc and cobalt grades reported at the Lincoln Springs QLD project
  • The result of 22 drill holes
  • Site is located north-east of Townsville

Greenpower Energy announced today mineral updates from its Lincoln Springs project in Queensland. Greenpower Energy is a company which identified Battery Minerals such as Cobalt and Vanadium as high demand/high price minerals for the growth in Electric Vehicles and Batteries accelerates globally.

Copper grades reported include 0.16 per cent, 0.14 per cent and 0.06 per cent. Zinc grades reported were 0.13 g/t, 0.2 g/t and 0.08 g/t. Cobalt grades reported include 0.48 per cent, 0.33 per cent and 0.27 per cent.

The site, located 220km north-east of Townsville, has undergone 22 reverse circulation drill holes totalling 2,083m.

The drilling program was aimed at beneath and along strike zones of historically positive copper workings.

Although the grades reported today are varying, the company holds faith in finding further consistent mineralisation for higher grade copper as they continue to drill.

These claims come from historical drilling and the company’s nearby Lincoln Springs Shear Zone which spreads 10km around the main site project.

The Lincoln Springs Shear Zone has historically shown extremely high grade copper and cobalt, prompting further drilling.

Mineralisation is believed to extend down to a vertical depth of over 100m below. Samples at one metre have been collected and sent to Townsville laboratories for results.

The drilling done so-far is the first drilling on the site by the company and has only tested a small portion of the overall project.

Assay results will be announced to shareholders in the near future. Greenpower’s shares have seen a steady decline since peaking in June as seen below.

The company also dropped 20 per cent in the ASX today, with shares sitting at 0.2 cents a piece at a company market cap of $3.13 million.

Please see the ASX announcement for further details

GPP by the numbers
More From The Market Herald

" Peregrine Gold (ASX:PGD) identifies new prospect at Pilbara

Peregrine Gold (PGD) has identified a second high-grade gold and silver prospect at the Pilbara gold project in Western Australia.
Golden Mile Resources (ASX:G88) - Managing Director, James Merrillees (right)

" Golden Mile Resources (ASX:G88) Managing Director resigns

Golden Mile Resources’ (G88) Managing Director has resigned as the company undertakes surveys and testwork across its Western Australia-based projects.
Poseidon Nickel (ASX:POS) - Managing Director & CEO, Peter Harold

" Poseidon Nickel (ASX:POS) receives Golden Swan MRE

Poseidon Nickel (POS) has unveiled a maiden mineral resource estimate for the Golden Swan deposit at its Black Swan Project in WA.

" Torian Resources (ASX:TNR) hits high-grade results at Diorite

Torian Resources (TNR) has intercepted high-grade results from the Diorite North prospect which is part of the company’s wider Mt Stirling Gold Project.