▪ First drill hole completed (MTJV001), intercepting 65 metres of disseminated sulphides, including:
o 43 metres of disseminated sulphides in ultramafics from 190 metres downhole;
o 3 metres of heavily disseminated sulphides in sediments from 233 metres downhole; and
o 19 metres of heavily disseminated sulphides in fluid altered ultramafics from 236 metres downhole.
▪ MTJV001 interpreted to intercept the same geological horizon hosting the Callisto discovery (ASX: GAL)
▪ Mineralisation hosted on the contact between an ultramafic sill and a sedimentary unit (as is Callisto)
▪ Cu & Ni sulphide species logged in core which are often associated with PGE mineralisation at Callisto1,2
▪ Full assay suite expected within 4-6 weeks, including palladium, platinum, gold, copper, nickel & rhodium
▪ MTJV001 now completed, with drill rig moving north (closer to Galileo boundary) to drill MTRC014D
▪ Prospective mineralised horizon remains open in all directions with a further 2.0km strike on JV tenure
Greenstone Resources Limited (ASX:GSR) (Greenstone or the Company) is pleased to provide an update on exploration activities at the Mt Thirsty Joint Venture (MTJV) (Greenstone 50%: Conico Limited 50%), where a
continuous zone of disseminated sulphides has been intersected as part of the Phase I drill campaign. The Phase I drill campaign is testing for extensions to the recent palladium-platinum-gold-copper-nickel (PGE) discovery by Galileo Mining Ltd (ASX:GAL) (Galileo) located less than 200 metres from the MTJV’s northern tenement boundary. The MTJV is located 16 kilometres North-Northwest of Norseman, Western Australia.
Diamond drill hole MTJV001 was the first of twenty holes to be drilled as part of the Phase I drill campaign targeting mineralisation associated with the same geological horizon hosting Galileo’s recent Callisto discovery. MTJV001 was drilled 400 metres along strike from Callisto targeting the modelled contact between the ultramafic rocks of the Mount Thirsty Sill complex and an underlying sedimentary unit. This target horizon had been modelled at between 190 – 220 metres down hole. Importantly, MTJV001 intercepted disseminated sulphides between 190 – 255 metres down hole, validating the comprehensive exploration model compiled over the past weeks by the MTJV in conjunction with a panel of technical experts. MTJV001 intercepted a similar downhole geological sequence as observed at Calisto, namely, weakly disseminated sulphides – disseminated sulphides – heavily disseminated sulphides – altered disseminated sulphides (appendix 1), including:
▪ 43 metres of disseminated sulphides in ultramafics from 190 metres downhole;
▪ 3 metres of heavily disseminated sulphides in sediments from 233 metres downhole;
▪ 19 metres of heavily disseminated sulphides in fluid altered ultramafics from 236 metres downhole.
Geological logging recorded both chalcopyrite and pentlandite, serving to confirm the presence of both copper and nickel which are often associated with PGE mineralisation at Callisto1,2.
SOURCE: Greenstone Resources
DATE: August 18, 2022