Market Herald logo

Subscribe

Be the first with the news that moves the market
  • GreenTech Metals (GRE) intersects broad copper and zinc mineralisation at the Whundo project in WA
  • Reverse circulation drilling intersected 32 metres at 2.43 per cent copper as well as a broader zone of 62 metres at 1.12 per cent copper and 1.36 per cent zinc
  • The mineralisation at Whundo remains open at depth with high grades persisting and confirming the potential to expand the current mineral resource
  • Assays are pending for 10 holes and once they’re received, they’ll be included in a combined resource update for Whundo and the nearby Ayshia deposit
  • GRE shares were trading 146 per cent higher at 34.5 cents at 1:25 pm AEST before the company went into a trading halt pending clarification of this morning’s news

GreenTech Metals’ (GRE) shares have soared over 140 per cent this morning after releasing some drill results from the Whundo project in Western Australia.

The company has received assays for 22 out of 25 completed reverse circulation (RC) holes drilled at the Whundo copper-zinc project.

Latest results have reportedly intersected broad zones of mineralisation and further highlight the “exceptional” copper and zinc grades found around the Whundo copper mine area.

Better results include 32 metres at 2.43 per cent copper from 75 metres including 17 metres at 4.37 per cent copper and 0.46 per cent zinc from 90 metres and seven metres at 7.83 per cent copper and 0.64 per cent zinc from 95 metres in hole RC005.

Additional broad zones of copper and zinc mineralisation include 62 metres at 1.12 per cent copper and 1.36 per cent zinc including 19 metres at 1.6 per cent copper and 2.27 per cent zinc in hole RC007.

Executive Director Thomas Reddicliffe said the initial assays confirm the high-grade tenor of mineralisation at Whundo which is at the core of a broader copper and zinc mineralised system.

“Drilling has demonstrated that the mineralisation at Whundo remains open at depth and with grades persisting. This and the identification of two additional mineralised horizons provides further impetus for the company to build upon the known resource,” Mr Reddicliffe said.

When combined with the nearby Ayshia deposit, Whundo has a JORC-compliant mineral resource estimate (MRE) of 3.6 million tonnes at 1.2 per cent copper and 1.4 per cent zinc for around 93,000 tonnes of contained copper and zinc metal.

GreenTech Metals is waiting on assay results for three holes drilled at Whundo and seven holes drilled at the Ayshia deposit.

The results are expected in the coming weeks and, once received, they’ll be incorporated into the combined Whundo/Ayshia indicated and inferred MRE.

Since the announcement, GreenTech has entered a trading halt pending clarification of this morning’s news.

Company shares were trading 146 per cent higher at 34.5 cents at 1:25 pm AEST.

GRE by the numbers
More From The Market Herald
OncoSil Medical (ASX:OSL) - Managing Director & CEO, Nigel Lange

" Bupa UK becomes first insurance company to reimburse for OncoSil Medical’s (ASX:OSL) namesake device

Bupa UK Insurance has become the first health insurance company to provide reimbursement for OncoSil Medical's…

" Patrys (ASX:PAB) completes second engineering run for PAT-DX1

Biotech junior Patrys (ASX:PAB) has completed a second engineering run for its PAT-DX1 cancer antibody candidate…
The Market Herald Video

" Lithium Australia’s (ASX:LIT) Envirostream receives first cash rebate for B-cycle scheme

Lithium Australia's (ASX:LIT) subsidiary, Envirostream Australia has received its first cash rebate for the B-cycle scheme.
Bubs (ASX:BUB) - Chairman, Dennis Lin and CEO, Kristy Carr

" Bubs Australia (ASX:BUB) to land fourth plane in the US, enters new supply agreements

Bubs Australia (ASX:BUB) has struck supply agreements with two new US retailer banner groups, H-E-B Grocery…