FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Greentech Metals Extend Pilbara Lithium

7 July 2023 13:49
ASX: GRE

Greentech Metals continue to build the lithium potential of its Ruth Well Project in Western Australia, with the latest rock chip results from the Project showing grades up to 1.8 per cent Li2O, the highest grade mineralisation encountered at the Project to date.

Extending Lithium Ground

Results come from the second rockchip sampling program undertaken at the Project which collected a total of 43 samples over a 5.5-kilometre pegmatite zone within the Project’s Kobe Prospect, with the latest results having now increased the strike length of this pegmatite zone from 6km to over 7.5km.

null

Figure 1: Pegmatite Bearing Zone with Sample Results

Highlight assays from the recent program include:

o 1.80% Li2O
o 1.70% Li2O
o 1.58% Li2O
o 1.54% Li2O
o 1.53% Li2O

Samples from the program were taken from across the entire strike length, showing consistent grades and confirming the accuracy of the high-grade samples returned in the previous sampling program, with the Company now believing that this consistency of grade is evidence that the Prospect could host a mineralising system.

Keeping up the Momentum

This sampling program was undertaken to follow up on the high-grade results from the previous 22 sample rock chip program completed just a few weeks ago which first uncovered the pegmatite zone and resulted in GRE’s ASX-listed share price soaring 267 per cent to trade at 36.5c.

Having added an additional 1.5km to the prospect strike in under a month, the Company plans to keep up the pace with sampling and mapping programs still ongoing over the pegmatite zone aimed at defining the spatial extent of the pegmatite zone and the consistency of the lithium mineralogy and grade within the mineralised system.

Alongside continued sampling, Greentech is also looking to put the drill to this promising project as soon as possible, with the Company now in advancing preparations to fire up the rig over the West Australian project for a maiden drilling campaign.

GRE’ is also well-supported to continue exploring for, evaluating and potentially developing lithium-bearing pegmatites throughout its tenement package having raised $1 million dollars accelerate it’s WA lithium exploration strategy through a partnership with the industry-leading lithium exploration and development team, Obsidian Metals Group.

Looking Ahead

The Company said it is looking forward to continuing the exploration efforts at the Kobe Lithium Prospect and will update the market with further results and assays as they are received.

“We are extremely pleased to see a persistence in the tenor of the mineralisation over the entire length of the pegmatite zone identified to date. We believe the consistency of the grades over a now 7.5km strike is evidence of a large mineralising system and underscores the prospectivity of this pegmatite zone,” Executive Director Thomas Reddicliffe said.

“GreenTech has a strong foothold in one of WA’s exploration hotspots and with high-quality lithium and copper projects in its portfolio, Greentech is exceptionally well-placed to capitalise on the decarbonisation and energy economy transformation that is now taking place around the world.”

GRE’s Australian Stock Exchange-listed share price has risen 17.85 per cent today, currently selling at 66c (1:03 pm UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This