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GreenTech greenlit for maiden campaign

1 July 2022
ASX: GRE
Jack Baker

GreenTech Metals are underway with maiden drilling following heritage approval for the Osborne nickel target southeast of Karratha in Western Australia’s Pilbara.

The highly anticipated follow-up on Legend Mining’s nickel-copper targets sidelined by land access restrictions for over 15 years will be put under the microscope with reverse circulation drilling at three locations along the shallowest portion of the 750-metres target zone.

In spite of the recent downturn in metals demand, analysts remain bullish on long-term outlooks for battery-grade nickel and copper, given their fundamental importance in green technologies.

The company said the x-ray analysis should provide conclusive indications of extended mineralisation occurring within the Andover Mafic-Ultramafic Intrusive Complex, which is hosting the Azure Minerals’ 4.6Mt maiden resource nearby.

“Osborne is a compelling conductor target in the right rocks and a proven nickel terrane,” executive director Thomas Reddicliffe said.

Meanwhile, GreenTech will continue exploring diverse nickel, copper, zinc, cobalt and gold assets spread across Western Australia.

GRE’s Australian Stock Exchange-listed share price has risen 1.92 per cent today, selling at 26c (11.37 am UTC+ 8 hours).

COMPANY OVERVIEW

GreenTech Metals Limited (ASX:GRE) is an exploration and development company established to discover, develop and acquire resource projects to supply the growing demand from global electrification – driven largely by energy storage via batteries and electric vehicles. The green energy transition is underway and will require substantially more metal supply for the electrification of the global vehicle fleet and for the massive investment in the electrical grid, renewable energy infrastructure and storage. With a high-quality suite of Ni, Cu and PGE assets in the underexplored West Pilbara region of Western Australia, the Company will also seek to acquire additional projects to feed the metal required for the manufacture of batteries and electric vehicles, such as lithium, rare earths, and other specialty metals from projects located both in Australia and overseas.

COMPANY INFORMATION

ASX: GRE

Website

https://greentechmetals.com/
https://www2.asx.com.au/markets/company/gre

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