GreenTech Metals has jagged enticing visual intersections at its Whundo copper-zinc project in Western Australia’s Pilbara region from the first two diamond drill holes in its 4000-metre stage two program.
The holes intersected thick zones of massive and semi-massive sulphides at the company’s Shelby and Austin targets, with massive sulphides from 280m and 598m downhole respectively. The hits look to contain as much as 30 per cent chalcopyrite ore, also known as copper sulphide.
GreenTech says the results confirm the down-plunge continuation of its mineralised shoots at Whundo, igniting hopes of a potential resource upgrade for the volcanogenic massive sulphide (VMS) project.
The company completed 1187m across the two holes. Shelby yielded a 10m true-width intersection of sulphides, while Austin delivered a 7.23m hit.
The mineralised zones comprise chalcopyrite, sphalerite, pyrrhotite and pyrite, which signal their robust copper and zinc potential, though all-important lab assays will be needed to pin down the grades.
GreenTech Metals Executive Director Tom Reddicliffe said: "We will continue to explore the deeper reaches of the Austin, Shelby, Yannery and Ayshia VMS deposits, which represent great potential to significantly expand the project resources based on the size of their associated geophysical signatures and the results of drilling. Based on the assay results and downhole electromagnetic (DHEM) surveys, further drilling at Shelby and Austin may be included as part of the stage two drill program.”
GreenTech says the intersections validate its conceptual model of plunging mineralised shoots and challenge an historic belief that resource growth at Whundo was already capped.
The company’s stage two campaign kicked off in December last year, with targets defined by DHEM conductor plates at its Shelby, Austin, Yannery and Ayshia zones.
The design aimed to materially boost GreenTech’s existing resource at Whundu of 6.19 million tonnes at 1.12 per cent copper and 1.04 per cent zinc, striving for the important 10mt mark, which signifies a 10-year life-of-mine operation.
The deepest hole at Shelby reached 815.7m, testing a conductor plate identified from earlier geophysics, while Austin’s 371.4m hole hit its mark closer to surface. Both holes are now being prepped for follow-up DHEM surveys to peer deeper and refine the next round of targets.
Despite delays from cyclonic weather and technical tweaks to keep the Shelby hole on course, GreenTech remains on track with its ambitious program. The company plans to leverage the pending assay results and DHEM data to prioritise further drilling across the underexplored quartet of prospects, which all remain open at depth.
The timing couldn’t be better. Copper prices have surged to about US$9600 per tonne (A$15,100) – and Citibank analysts forecast it to push through the US$10k mark - driven by global supply tightness.
GreenTech’s push to delineate a larger resource base positions the company to capitalise on this trend, especially with strategic options such as its copper-focused alliance with Anax Metals and proximity to Artemis Resources’ Radio Hill processing plant, just 10 kilometres away.
The company favourably completed a recent $2.3 million capital raise alongside a drill-for-equity deal with its contractor Topdrill that underscores the market’s approval of its copper-zinc drilling programs.
With assays expected in weeks and DHEM surveys imminent, GreenTech and its supporters are eager to see if the sulphide-rich hits translate into the high-grade numbers needed to elevate Whundo into a serious standalone asset contender.
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By Andrew Todd
