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Green Critical Minerals Ltd(“GCM” or “the Company”) which holds earn-in rights for up to 80% of the advanced Ultra High Purity McIntosh Graphite Project (see CML’s announcement on 15 June 2022) is thrilled to announce a major breakthrough in our exploration efforts at the Emperor target. Our latest discovery, intercepted in hole GCMDD003, has revealed up to 280m of graphitic schist. Hole GCMDD003 has successfully delineated a significant extension at depth to the known mineralised package at Emperor, uncovering a previously untested repeat (see Figure 1 below). Drill hole GCMDD003 is the deepest hole completed at the Emperor deposit and outlines the potential to delineate this repeat mineralisation along the entire strike length of the Emperor resource.
Highlights
- Up to 280m thick Graphitic Schist intercepted at the Emperor target.
- Discovery hole GCMDD003 has delineated a significant extension to the high purity Emperor deposit. A previously untested repeat of the known mineralised package has now been discovered.
- The discovery of a repeat mineralised package at Emperor has the potential to substantially expand the resource.
- The graphitic schist package at Emperor is now over 1km in strike, 250m in width and up to 300m thickness, which has the potential to become a significant bulk mining opportunity. The width and thickness of the emperor graphitic schist unit is unparalleled compared to other more tabular vertical dipping deposits.
- In addition to the newly discovered repeat mineralised package, further potential is also held at the interpreted extension of the Emperor fold hinge limbs open to both the east and west.
- Emperor represents a unique graphite deposit that has been hydrothermally upgraded to produce ultra-low impurity premium flake. The hydrothermal fluids have acted in a way to increase the purity and recrystallise the graphite into an almost perfect hexagonal shaped graphite which attracts a premium.
Figure 1 Emperor Transform Cross Section of GCMDD003 (Section Line A)
Graphite mineralisation is interpreted to form bands concordant with foliation in the schist. The abundance of mineralisation in each 1m interval has been estimated based on visual observations recorded by the onsite geologist (see Table 1).
* The Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.
Figure 2 Emperor Plan view showing electro magnetic high with 2017 PFS pit design and cross section line A.
The mineralised package at Emperor is now over 1km in strike, 250m in width and up to 300m thickness. The unique folded nature of the emperor deposit has created an accumulated package of graphitic schist which lends itself to favorable strip ratios compared to vertical tabular deposits that are commonly found elsewhere. This represents the potential for a substantial bulk mining opportunity (see Figure 2).
What further sets Emperor apart from other graphite deposits is its exceptional quality. Through hydrothermal upgrading, the deposit has been transformed into an ultra-low impurity premium flake graphite. This process has significantly increased its purity, resulting in almost perfect hexagonal-shaped graphite—a highly sought-after attribute in the market. The intrinsic purity will potentially enable GCM to be in the lowest quartile of purification costs.
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This article includes content from Green Critical Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
