- Greenvale Mining’s (GRV) Georgina Basin Project has been given a boost following a 10-hole drilling program in the Northern Territory
- Diamond drilling was conducted under the National Drilling Initiative to test the East Tennant area’s potential to host gold and copper-rich deposits similar to those in the world-class Tennant Creek region
- Pleasingly, drilling confirmed the potential for this style deposit, with several of the holes located adjacent to Greenvale’s Georgina Basin Project
- Greenvale has contracted Resource Potentials to interpret drilling data as well as data from a recent geophysical survey to refine its targeting approach
- Greenvale closed 7.69 per cent in the green with shares closing at 14 cents
Greenvale Mining’s (GRV) Georgina Basin Project has been given a boost following a 10-hole drilling program at the East Tennant region in the Northern Territory.
The diamond drilling was conducted as part of the National Drilling Initiative to test the potential of the East Tennant area to host gold and copper-rich deposits similar to those in the world-class Tennant Creek mineral field.
Pleasingly, the holes contain mineralogical and geochemical evidence of large-scale gold and copper-rich mineral deposits similar to the Tennant Creek area.
Excitingly, several of the drill holes are located adjacent to tenements within Greenvale’s Georgina Basin Project, which includes nine exploration licences that cover 4475 square kilometres.
“Having high-quality stratigraphic diamond drill holes completed by the government to unlock the potential of this exciting frontier mineral province is a huge leg-up for companies exploring in this area,” Managing Director Neil Biddle said.
“The preliminary results of the drilling, based on the photos of the core I have seen, are absolutely outstanding and have provided a massive injection of confidence into the district,” he added.
Through its wholly owned subsidiary, Knox Resources, Greenvale plans to pursue a systematic approach to exploration this year while it maintains development work at its Alpha Torbanite Project in central Queensland.
Now that the data has been released, the company has contracted Resource Potentials to assist with interpreting the drilling data as well as data from a recent geophysical survey to help refine its targeting approach.
Greenvale closed 7.69 per cent in the green with shares closing at 14 cents.