GreenTech Metals Wraps Up Maiden Drilling at Munni Munni Project, Paving Way for Updated Resource Estimate
GreenTech Metals has successfully concluded its inaugural drilling campaign at the promising Munni Munni Platinum Group Element (PGE)-copper-nickel project, situated in Western Australia. This significant milestone is a crucial step towards reclassifying a substantial historical resource into a Mineral Resource Estimate (MRE) compliant with the JORC 2012 reporting standards. The company anticipates the updated MRE will be released in the second quarter of this year, bringing valuable insights into the project’s potential.
The initial phase of drilling was strategically designed to validate historical exploration work, which had previously identified an historic resource. This resource was reported as 24 million tonnes (Mt) grading 2.9 grams per tonne (g/t) of 4E (encompassing PGEs and gold), equating to approximately 2.2 million ounces. GreenTech’s primary objective with this program was to confirm the accuracy and reliability of this historical data, thereby paving the way for its formal recognition under current industry standards.
The original plan for the drill program envisioned up to 20 Reverse Circulation (RC) and diamond holes. However, a fortunate development arose with the accessibility of historical drill core from the Munni Munni project. This allowed GreenTech to conduct extensive re-sampling of selected mineralised sections, a move that significantly contributed to cost savings compared to the extensive drilling that would have otherwise been necessary.
Strategic Approach to Validation and Cost Efficiency
By leveraging the availability of historical drill core, GreenTech Metals (ASX:GRE) was able to re-sample core from 16 past holes. This pragmatic approach not only reduced the overall expenditure for the maiden drilling program but also accelerated the timeline. Consequently, the company’s first drilling effort at Munni Munni comprised a total of 12 RC and diamond holes, covering approximately 2680 metres. This included six infill RC holes, specifically designed to gather crucial data on resource continuity, a key factor in defining a robust MRE.
The company has now dispatched over 2140 samples to the laboratory for comprehensive analysis. Results from these analyses are expected to be returned within the next six weeks. Following the receipt and interpretation of these results, the JORC (2012) compliant MRE is slated for completion in the second quarter of the current year.
James Rattenbury, CEO of GreenTech Metals, expressed his satisfaction with the program’s outcome. “We are very pleased that our Phase 1 drill program at Munni Munni was completed ahead of schedule due to the availability and suitability of the stored historical drill core,” he stated. “This has accelerated our program, reduced costs, and pushes us closer to a key objective of unlocking the full potential of this world-class platinum-palladium-copper-nickel project.”
Munni Munni: A Consolidating Opportunity in the West Pilbara
GreenTech significantly advanced its strategic position in early December by entering into a deal to acquire up to a 70% interest in the Munni Munni project, with an option to further increase its stake to 80%. This acquisition was a landmark event, marking the first time a single entity has consolidated the entire Munni Munni layered mafic intrusion and its surrounding 346 square kilometre land package. This extensive area is recognised for its high prospectivity for PGEs and copper, yet it has historically remained relatively under-explored.
Adding to its strategic advantage, the Munni Munni project is geographically adjacent to GreenTech’s existing Whundo copper-zinc-gold project. At Whundo, the company has already delineated a substantial resource of 6.2Mt, grading 1.12% copper and 1.04% zinc. This proximity offers potential synergies and operational efficiencies for GreenTech.
With the consolidation of Munni Munni, GreenTech’s total landholdings in the region now exceed 500 square kilometres. This substantial tenement package positions the company as one of the largest landholders in the highly prospective West Pilbara region of Western Australia, underscoring its commitment to exploring and developing significant mineral resources.
