Group 6 Metals (ASX:G6M) is planning to resume exploration at its Dolphin Tungsten Mine in Tasmania with ‘systematic’ drilling to allow more targeted exploration on structural targets.
The $120.41 million market capitalisation company plans to resume exploration after ramp-up and steady-state production is achieved at the Dolphin Mine.
Group 6 aims to test the full potential of the area and to extend the project life beyond the current 14 years through near-mine and exploration drilling projects.
This news comesafter Group 6 completed exploration drilling with the assistance of a Tasmanian Government Exploration Drilling Grant Initiative (EDGI) at the Dolphin Mine.
Drillholes KI111 and KI112 were the first holes drilled in the Investigator 24 area for almost 50 years and the first to intersect the full mine sequence, including B and C lend with associated calc-silicate skarn mineralisation similar to the Bold Head and Dolphin mines.
Group 6 reports scheelite mineralisation associated with garnet-pyroxene skarn was observed under UV light in all 3 drillholes, with ‘sporadic medium- to low-grade’ mineralisation confirmed by laboratory analysis.
Commenting on the recent exploration activities, Group 6 Metals Chief Executive Officer (CEO) and Managing Director Keith McKnight says: “While work is continuing on the ramp up of tungsten production at the Dolphin Tungsten Mine, the company is keen to continue developing regional exploration opportunities surrounding the mine, building on the high-grade mineralisation intersects encountered from previous exploration drilling carried out at Investigator 21 in 2018.
“All 3 exploration holes have successfully intersected skarn mineralisation in the mine series, validating the exploration potential of the Grassy region”
All 3 exploration holes have successfully intersected skarn mineralisation in the mine series, validating the exploration potential of the Grassy region. The presence of scheelite mineralisation associated with the skarn indicates the right geological processes for significant mineralisation in the district.
The company is excited by the results from step-out exploration in this region, and systematic drilling is planned to allow more targeted exploration on structural targets.”
Group 6 Metals is an exploration, development, and production company focused on its Dolphin Tungsten Mine on King Island, Tasmania. As of 30 June 2023, the company had $9.032 million cash and cash equivalents at hand, according to its latest quarterly report published on 31 July.
Images: Group 6 Metals