March 25, 2023

Since Mark Creasy’s Galileo Mining made a surprising platinum-palladium discovery at its Norseman undertaking in Might, hypothesis has abounded whether or not the startling discovery continues 200m to the south, at Greenstone Sources and Conico’s Mt Thirsty Joint Enterprise Undertaking. 

We’ve got the primary hints that one thing very spectacular could possibly be laying at depth on Greenstone (ASX:GSR) and Conico’s (ASX:CNJ) aspect of the border, with the three way partnership companions testing for extensions lower than 300m away from Galileo (ASX:GAL) and its current Callisto discovery.

The businesses’ optimism is shared by prospector Creasy who has not too long ago taken a stake in Greenstone.

Importantly, section 1 drilling has intersected vast zones of semi-massive and/or closely disseminated sulphides in all 5 drill holes accomplished up to now, defining a potential horizon of not less than 300 x 400m, which stays open in all instructions.

In mild of those outcomes, Greenstone managing director Chris Hansen says contingent plans are already being made to fast-track the phase-2 drill marketing campaign pending the receipt of preliminary assays.

“We proceed to be impressed by the continuity of the geology south of Callisto, as highlighted by our current exploration success, having now intersected thick and steady zones of closely disseminated sulphides within the first 5 drill holes accomplished,” he mentioned.

“Importantly, we’ve now outlined a potential exploration horizon of not less than 300m x 400m on the MTJV tenure, which dips to the south and stays open in all instructions on the MTJV tenure.”

“Over the following 6-8 weeks we’ve an extra 15 holes deliberate as a part of the aggressive phase-1 drill marketing campaign, and have already begun making contingent plans to speed up the phase-2 drill marketing campaign pending the receipt of preliminary assays.

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“We stay up for protecting shareholders up to date regularly as our understanding of the size and nature of this new geologic system continues to develop over the approaching weeks.”

Highlights from the most recent spherical of diamond and reverse circulation drilling embody:

  • 127.3m of disseminated sulphides from 178.4m, together with 37.1m of closely disseminated from 268.6m;
  • 122m of disseminated sulphides from 227m, together with 19m of closely disseminated from 227m; and
  • 51.6m of disseminated sulphides from 227m, together with 34.3m of closely disseminated sulphides from 232m.

What’s subsequent?

With 1,650m of drilling within the financial institution, one other 4,200m to be drilled, and assays pending, there may be much more information to return.

First assays are anticipated throughout the subsequent 2-4 weeks, with all samples to be assayed for a collection of PGEs together with palladium, platinum, gold, copper, nickel, and rhodium.

What has excited traders in regards to the Callisto discover and doubtlessly no matter Greenstone and Conico uncover, is the comparability to the Platreef deposits on the northern limb of the South African Bushveld Advanced, the most important platinum and palladium horizon on the planet, with mixed indicated assets of greater than 700Mt at a 1g/t 3PGE and gold cut-off.

Since making the Callisto discovery some 200m north of the Mt Thirsty JV’s licence space, rich-list prospector Mark Creasy has taken a giant 4.3% stake in Greenstone.

That means the profitable inventory picker and prospector believes within the potential of the Mt Thirsty JV to show up one thing related.

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This text was developed in collaboration with Greenstone Sources, a Stockhead advertiser on the time of publishing. This text doesn’t represent monetary product recommendation. It is best to contemplate acquiring impartial recommendation earlier than making any monetary selections.

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