‘Early mover’ Greenvale gets drilling at NT site

Greenvale Mining is highlighting its early-mover status in the emerging East Tennant mineral region as it kicks off a maiden 3000m diamond drilling program at the Georgina Basin IOCG Project. The company said it was just the second junior in the district to progress its exploration program to drilling. This follows the preparation of more than 50km of access tracks, the establishment of a remote drillers’ camp, and drilling of a water bore to support diamond drilling activities. The drilling is being undertaken by experienced Queensland contractors Eagle Drilling NQ, using a track-mounted rig and rod carrier to facilitate access in the remote and challenging sandy terrain. It comes after an extensive ground-based gravity program was completed during the last quarter, returning encouraging results that confirmed and strengthened the large-scale IOCG (iron-oxide-copper-gold) targets known as the 'Twin Peaks'. Chief executive officer Matthew Healy. Related: Barkly region mineral results shine The company described 'Twin Peaks' as having strong observed magnetic anomalism and gravity anomalism which were consistent with major IOCG deposits in the Gawler Craton and the Mount Isa Inlier. Greenvale will assay samples using a multi-element suite that includes copper, gold, bismuth and molybdenum, amongst a host of other elements typically used as pathfinders for IOCG mineralisation. “Things are now rapidly falling into place at Georgina, after some incredible work from our field team and drilling partners, Eagle Drilling NQ," Greenvale Mining chief executive officer Matthew Healy said. “Conditions have been extremely challenging, and the frontier-like nature of the area cannot be underestimated. Like for many of our neighbours, the sandy terrain has posed some logistical challenges – resulting in a slight delay to the start of our drill program. “However, our team and contractors have done a fantastic job and it is great to see the drill bit now turning at this very exciting project. Overlay of interpreted gravity on 'Twin Peaks' magnetic anomalies - Greenvale Mining. “Having recently presented at the Mining the Territory Conference in Darwin late last month, I can tell shareholders that the level of interest and, more importantly, investment in the East Tennant area is very strong." Mr Healy said it was a wonderful achievement to be one of the first juniors in the district to commence drilling. “We are all now very much looking forward to seeing what this high-impact 3000m diamond drill program can tell us about the potential of this region, and I am looking forward to reporting results as they come to hand.” Greenvale reports advances for Alpha torbanite project Greenvale Mining also holds the Alpha torbanite project in Central Queensland and recently announced an updatedcommercialisation strategy for that asset that proposed incorporating a solar and gas-fired hybrid power station feeding into the local power grid. Sighter test work on a bulk sample extracted late last year has brought results supporting historical data that demonstrated the high-yielding nature of the Alpha deposit. During the September quarter, the company was able to synthesise a sufficient quantity of asphaltene material (bitumen) for testing by potential downstream customers and for independent laboratory validation. In addition, three composite liquid samples produced from the sighter testing plus several gas samples were sent to Petrolab Australia for fingerprint analysis and hydrocarbon sampling, with results expected to be announced in the December quarter. A maiden JORC Mineral Resource Estimate for the Alpha Project is expected to be published by the end of the year. The Alpha project will feature at the Connecting Coal Conference Queensland on Thursday, November 11. For more information go to www.connectingindustry.com.au/events/

‘Early mover’ Greenvale gets drilling at NT site

Industry Queensland

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