GreenTech Metals (ASX:GRE) is planning a follow-up reverse circulation (RC) drilling program to begin in Q1 2024 at its Osborne Joint Venture (JV) tenement in Western Australia.
Osborne is a JV with Artemis Resources (ASX:ARV), which owns 49%, and GreenTech, which owns the remaining 51%.
GreenTech, which has a market capitalisation of $46 million, says this will be a more detailed drilling program and will include results and information gathered from the current drilling program.
The company has approved Program of Works (PoWs) and heritage clearances, which support current and future drilling on the project tenements.
This news comes after GreenTech’s maiden diamond drilling program at Osborne has completed drilling the first hole to 810.2m depth.
GreenTech says there are several more holes to complete, which will be sited at the Osborne and Kobe trends, aimed to provide stratigraphic/structural information and subsurface characteristics of the pegmatite zones.
The company reports initial observations from drillhole 23GTDD001 appear ‘very encouraging’ as 3 zones have been identified down dip of the Wally and Osborne targets, each comprising multiple stacked occurrences of pegmatites.
GreenTech Metals is an explorer and developer focused on critical minerals. The company’s assets are focused on lithium, nickel, copper and cobalt in the West Pilbara and Fraser Range provinces of Australia.
As of 30 September 2023, the company had $2.935 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: GreenTech Metals
