REG - GreenX Metals Ltd - High Grade Antimony Identified at Eleonore North
27/11/2024 07:00
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RNS Number : 7845N GreenX Metals Limited 27 November 2024
NEWS RELEASE 27 NOVEMBER 2024
HIGH GRADE ANTIMONY IDENTIFIED AT ELEONORE NORTH PROJECT
· GreenX receives outstanding antimony results at Eleonore North project in
Greenland.
· Antimony price now US$37,500/t from historical prices of ~US$5,000 to
10,000/t.
· Critical mineral crisis escalating - China has now restricted export of
critical and strategic antimony, graphite, gallium, germanium, tungsten,
titanium and rare earths.
GreenX Metals Limited (GreenX or the Company) is pleased to announce that high
grade antimony mineralisation has been identified at the Company's Eleonore
North project (Eleonore North or ELN) in Greenland, based on historical
results recently released by the Geological Survey of Denmark and Greenland
(GEUS). The historical results indicate the potential for a high-grade
antimony-gold mineral system at ELN. Antimony prices have been on a rapid
uptrend since China announced antimony export controls from 15 September 2024,
with antimony prices in the US having rocketed to US$37,500/t from
US$18,300/t(1) in the past week.
· Historical results from GEUS 2008 fieldwork at ELN have been made
available and include grab samples from outcropping mineralised veins with
individual specimens grading up to 23% antimony (Sb), and other samples up to
4g/t gold (Au).
· Previously reported historical data confirmed the presence of
gold and high-grade antimony in outcropping veins at ELN including:
o 14m long chip sample grading 7.2% Sb and 0.53g/t Au(2)
o 40 m chip line with a length weighed average of 0.78g/t Au2
· Antimony mineralisation has been identified along a ~4km trend in
veins and structures, that broadly aligns with previously identified gold
veining at surface within a 15km trend.
Figure 1: Newly released GEUS assay results show evidence for high-grade
antimony and gold mineralisation above the interpreted Noa Pluton.
· Significantly, GEUS geologist's identified stibnite (Sb(2)S(3))
as the antimony mineral. Stibnite is well-understood and the predominant ore
mineral for commercial antimony production.
· Antimony is designated a Critical Raw Material by both the EU and
the US, with China being the world's major antimony ore producer and major
exporter of refined antimony oxides and metallic antimony.
· Global strategic interest in antimony has significantly increased
in 2024 due to several factors:
o China controls ~50% of global antimony mining, most downstream processing
and 32% of global resources according to the Lowy Institute.
o China's recent export ban on antimony, effective from 15 September 2024,
has caused market disruption(3).
o Antimony is a crucial material in the defence supply chain, used in
various military applications including ammunition, flame retardants, and
smart weaponry.
o Antimony is essential in renewable energy technologies including
more-energy-efficient solar panel glass and in preventing thermal runaway in
batteries.
· The antimony market is expected to grow by 65% between 2024 and
2032(4). However, the supply side, declining antimony grades and depleting
resources for existing mines are becoming increasingly relevant.
o In terms of new deposits, antimony is harder to find than most metals
because stibnite has no geophysical electrical or magnetic response
· To aid the Company's exploration targeting and fieldwork planning
for ELN, GreenX's technical team intend to locate, analyse, and study further
historical samples and data within GEUS's archives in the coming weeks.
GreenX Metals' Chief Executive Officer, Mr Ben Stoikovich, commented:
"Antimony is of critical importance in multiple defence applications and for
the energy transition. Antimony features on both the EU and US critical raw
materials lists due to China's dominance of global antimony supply. Whilst we
had previously focussed on the ELN project primarily for gold mineralisation,
the newly published historical results with out-cropping vein samples grading
up to 23% antimony, indicate the potential for ELN to host viable antimony
mineralisation. We plan to now re-focus our exploration program at ELN on both
gold and antimony targets."
The Announcement Contains Inside Information
Figure 2: Noa Pluton prospect area within the Eleonore North Licence.
ANTIMONY RESULTS FROM NEWLY PUBLISHED GEOLOGICAL SURVEY ARCHIVE MATERIAL
GEUS's archives host an extensive collection of rock samples (with and without
assays), maps, as well as government and company reports going back many
decades. A sub-set of the archive material is available in digital format.
GEUS is continuously digitising and publishing its archive material. The newly
released data covers 2008 field work at the Noa Dal valley within the
Company's ELN project. Government geologists collected mineralised samples
from outcropping veins and scree near to the interpreted Noa Pluton. Selected
highlights are presented in Table 1 below.
Table 1: Selected antimony and gold results from 2008 GEUS fieldwork
Sample # Sb (%) Au (g/t) Field description
469506 23.40 0.00 Quartz vein with stibnite. Sample from boulder or scree
496901 22.20 0.44 Massive stibnite from mineralised zone
496918 15.10 0.54 Quartz vein + galena + chalcopyrite
469504 6.65 0.83 Shale with stibnite
496912 0.10 4.10 Clay alteration: hanging wall
496904 0.11 4.70 Clay alteration: footwall
496910 0.04 2.20 Intense clay alteration
These newly released results conform with previously released historical
results from the Noa Dal area (previously reported in ASX announcement dated
10 July 2023).
GEOLOGICAL SIGNIFICANCE OF ANTIMONY
GreenX is targeting Reduced Intrusion-related Gold Systems (RIRGS) at ELN. The
hypothesised blind-to-the-surface Noa Pluton forms the basis for the RIRGS
exploration model. Antimony-gold veins at surface were considered to be
supporting evidence for RIRGS at ELN. With the favourable shift in the
antimony market, the outcropping veins have become a potentially viable and
attractive target.
The antimony-gold mineralisation at ELN could be analogous to Perpetua
Resources' Stibnite Gold Project in Idaho, USA. There, RIRGS and orogenic gold
mineralisation styles overprint each other. Prior to the RIRGS model at ELN,
the gold-bearing veins at Noa Dal were thought to be of orogenic origin. It is
relatively common in gold deposits which are proximal to intrusions to feature
characteristics of RIRGS and orogenic gold mineralisation styles.
The scale and potential of the antimony-gold veins will be evaluated with a
follow-up investigation in the next phase of fieldwork.
GEUS is in the process of releasing results from regional mapping and sampling
surveys from field seasons in 2022 and 2023 across East Greenland. GreenX
plans to use the soon-to-be-released data as part of ongoing evaluation of the
antimony and gold potential at ELN and the region.
Given recent developments in the antimony market, GreenX's exploration
strategy at the ELN project in East Greenland will continue with a renewed
focus on the known Sb-Au mineral systems at the Noa pluton.
ENQUIRIES
Ben Stoikovich Sapan Ghai
Chief Executive Officer Business Development
+44 207 478 3900 +44 207 478 3900
-ENDS-
COMPETENT PERSONS STATEMENT
Information in this announcement that relates to Exploration Results is based
on information compiled by Mr Joel Burkin, a Competent Person who is a member
of the Australian Institute of Geoscientists. Mr Burkin is a consultant
engaged by GreenX. Mr Burkin has sufficient experience that is relevant to the
style of mineralisation and type of deposit under consideration and to the
activity being undertaken, to qualify as a Competent Person as defined in the
2012 Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves'. Mr Burkin consents to the inclusion in
this announcement of the matters based on his information in the form and
context in which it appears.
FORWARD LOOKING STATEMENTS
This release may include forward-looking statements, which may be identified
by words such as "expects", "anticipates", "believes", "projects", "plans",
and similar expressions. These forward-looking statements are based on
GreenX's expectations and beliefs concerning future events. Forward looking
statements are necessarily subject to risks, uncertainties and other factors,
many of which are outside the control of GreenX, which could cause actual
results to differ materially from such statements. There can be no assurance
that forward-looking statements will prove to be correct. GreenX makes no
undertaking to subsequently update or revise the forward-looking statements
made in this release, to reflect the circumstances or events after the date of
that release.
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.
Sources:
(1) Source: SP Angel 22/11/24 & Asianmetals.com
(2) Previously reported - refer to ASX announcement dated 10 July 2023
(3)
https://chemical.chemlinked.com/news/chemical-news/china-restricts-export-of-antimony-and-related-products
(4) https://www.fortunebusinessinsights.com/antimony-market-104295
Appendix 1: Exploration results and JORC Tables
Table 1: Historical GEUS rock samples from 2008
Sample ID Easting Northing Sb (ppm) Au (g/t) Field Description
469501 -25.0093 73.29184 85,100 0 Silicified quartzite with stibnite
469502 -25.0078 73.29173 39,600 0.55 Silicified quartzite with stibnite
469503 -25.0054 73.29182 96,500 0 Silicified quartzite with stibnite
469504 -24.9471 73.2908 66,500 0.83 Shale with stibnite
469505 -25.0675 73.30148 129,000 0 Quartzite with stibnite
469506 -25.0675 73.30148 234,000 0 Vein quartz with stibnite, Sample from boulder or scree
469507 -25.0669 73.30519 987 Vein quartz with galena and chalcopyrite
469508 -24.925 73.29301 577 Silicified limestone breccia
496901 -25.0063 73.29178 222,000 0.44 Massive stibnite from mineralised zone
496902 -25.0063 73.29178 50,900 0 Quartzite breccia + stibnite
496903 -25.0015 73.28947 274 Footwall quartzite
496904 -25.0064 73.29182 1,130 4.7 Clay alteration: footwall
496905 -25.0063 73.29178 451 1.1 Clay alteration: footwall
496906 -25.0063 73.29178 184 0.07 Quartzite breccia
496907 -25.0062 73.29173 62 0 Quartzite breccia + stibnite
496908 -25.0061 73.29168 78 2 Stibnite-rich breccia + heavy alteration
496909 -25.0062 73.29166 143 2.4 Clay alteration: hanging wall
496910 -25.0064 73.29171 383 2.2 Intense clay alteration: hanging wall
496911 -25.0065 73.29166 58 0.18 Quartzite hanging wall
496912 -25.0075 73.29166 1,080 4.1 Clay alteration: hanging wall
496913 -24.9465 73.29073 1,180 4 Quartzite breccia + alteration
496914 -24.9471 73.29088 267 0.28 Quartzite breccia + quartz-veining
496915 -24.947 73.29084 65,100 0.66 Quartzite breccia + stibnite
496916 -24.9474 73.29085 63,700 0.65 Wall rock quartzite
496917 -25.0657 73.30175 10,000 Stibnite-rich breccia in quartzite.
Sample from boulder or scree
496918 -25.0658 73.30178 151,000 0.54 Quartz-vein + galena + chalcopyrite
Note: Coordinates are in WGS 84 decimal degree format.
10,000ppm = 1%
JORC Code, 2012 Edition - Table 1 Report
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques Nature and quality of sampling (eg cut channels, random chips, or specific GEUS collected grab samples of in situ and loose rocks.
specialised industry standard measurement tools appropriate to the minerals
under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling.
Include reference to measures taken to ensure sample representivity and the No QAQC was reported.
appropriate calibration of any measurement tools or systems used.
Aspects of the determination of mineralisation that are Material to the Public Work was not conducted to modern industry standards.
Report. In cases where 'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for fire
assay'). In other cases more explanation may be required, such as where there
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
information.
Drilling techniques Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, N/A
auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or other type, whether core is
oriented and if so, by what method, etc).
Drill sample recovery Method of recording and assessing core and chip sample recoveries and results N/A
assessed.
Measures taken to maximise sample recovery and ensure representative nature of N/A
the samples.
Whether a relationship exists between sample recovery and grade and whether N/A
sample bias may have occurred due to preferential loss/gain of fine/coarse
material.
Logging Whether core and chip samples have been geologically and geotechnically logged Rock grab samples were described in the field and are not used in any
to a level of detail to support appropriate Mineral Resource estimation, estimates or studies.
mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or costean, The logging of rock grab samples was qualitative/descriptive in nature. If
channel, etc) photography. photos of the samples exist, they have not been released by GEUS.
The total length and percentage of the relevant intersections logged. N/A
Sub-sampling techniques If core, whether cut or sawn and whether quarter, half or all core taken. N/A
and sample preparation
If non-core, whether riffled, tube sampled, rotary split, etc and whether N/A
sampled wet or dry.
For all sample types, the nature, quality and appropriateness of the sample N/A
preparation technique.
Quality control procedures adopted for all sub-sampling stages to maximise N/A
representivity of samples.
Measures taken to ensure that the sampling is representative of the in situ N/A
material collected, including for instance results for field
duplicate/second-half sampling.
Whether sample sizes are appropriate to the grain size of the material being N/A
sampled.
Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory All samples are historical in nature and do not comply with modern QAQC
procedures used and whether the technique is considered partial or total. protocols.
For geophysical tools, spectrometers, handheld XRF instruments, etc, the N/A
parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc.
Nature of quality control procedures adopted (eg standards, blanks, N/A
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established.
Verification of sampling and assaying The verification of significant intersections by either independent or No verification carried out.
alternative company personnel.
The use of twinned holes. N/A
Documentation of primary data, data entry procedures, data verification, data N/A
storage (physical and electronic) protocols.
Discuss any adjustment to assay data. N/A
Location of data points Accuracy and quality of surveys used to locate drill holes (collar and Location of samples was collected with a handheld GPS unit. No Mineral
down-hole surveys), trenches, mine workings and other locations used in Resource estimate is given.
Mineral Resource estimation.
Specification of the grid system used. Location data is provided in the World Geodetic System 1984 (WGS 84) in
decimal degrees.
Quality and adequacy of topographic control. N/A
Data spacing and distribution Data spacing for reporting of Exploration Results. The samples GEUS collected in 2008 are select rock grab samples. They did not
attempt to collect data at regular spacings.
Whether the data spacing and distribution is sufficient to establish the N/A
degree of geological and grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and classifications applied.
Whether sample compositing has been applied. N/A
Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible The grab samples are point data and were likely collected biased to visible
structures and the extent to which this is known, considering the deposit mineralisation. They were collected within and adjacent to mineralised veins
type. and fault structures.
If the relationship between the drilling orientation and the orientation of No sampling bias.
key mineralised structures is considered to have introduced a sampling bias,
this should be assessed and reported if material.
Sample security The measures taken to ensure sample security. The practices of GEUS in 2008 are unknown to GreenX, but are not considered
material for the present potential of Eleonore North.
Audits or reviews The results of any audits or reviews of sampling techniques and data. GreenX is unaware if any audits or reviews were performed but has no concerns
about their absence.
Section 2 Reporting of Exploration Results
(Criteria in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or The Eleonore North Project is a result of a scientific and systematic
material issues with third parties such as joint ventures, partnerships, reduction of Greenfield Exploration's (GEX) 'Frontier' Project. Eleonore
overriding royalties, native title interests, historical sites, wilderness or North comprises two Exploration Licences (MEL2023-39 and MEL 2018-19). The
national park and environmental settings. combined spatial area of licences is 1,220.81 km(2).
The boundaries of Eleonore North Project are defined by the points:
MEL2023-39 (two polygons: 1,189.77 km(2))
73.98333 °N 25.30000 °W
73.98333 °N 25.13333 °W
73.95000 °N 25.13333 °W
73.95000 °N 25.01667 °W
73.91667 °N 25.01667 °W
73.91667 °N 24.86667 °W
73.88333 °N 24.86667 °W
73.88333 °N 24.51667 °W
73.86667 °N 24.51667 °W
73.86667 °N 24.48333 °W
73.85000 °N 24.48333 °W
73.85000 °N 24.43333 °W
73.70000 °N 24.43333 °W
73.70000 °N 24.48333 °W
73.68333 °N 24.48333 °W
73.68333 °N 25.01667 °W
73.70000 °N 25.01667 °W
73.70000 °N 25.05000 °W
73.71667 °N 25.05000 °W
73.71667 °N 25.08333 °W
73.73333 °N 25.08333 °W
73.73333 °N 25.21667 °W
73.75000 °N 25.21667 °W
73.75000 °N 25.26667 °W
73.76667 °N 25.26667 °W
73.76667 °N 25.33333 °W
73.78333 °N 25.33333 °W
73.78333 °N 25.38333 °W
73.80000 °N 25.38333 °W
73.80000 °N 25.48333 °W
73.91667 °N 25.48333 °W
73.91667 °N 25.25000 °W
73.95000 °N 25.25000 °W
73.95000 °N 25.30000 °W
73.41667 °N 25.31667 °W
73.41667 °N 25.03333 °W
73.43333 °N 25.03333 °W
73.43333 °N 24.60000 °W
73.23333 °N 24.60000 °W
73.23333 °N 25.60000 °W
73.26667 °N 25.60000 °W
73.26667 °N 25.53333 °W
73.30000 °N 25.53333 °W
73.30000 °N 25.45000 °W
73.31667 °N 25.45000 °W
73.31667 °N 25.31667 °W
MEL 2018-19 (two polygons: 31.04 km(2))
73.16667 °N 25.11667 °W
73.16667 °N 25.01667 °W
73.15000 °N 25.01667 °W
73.15000 °N 25.05000 °W
73.13333 °N 25.05000 °W
73.13333 °N 25.15000 °W
73.15000 °N 25.15000 °W
73.15000 °N 25.11667 °W
73.23333 °N 25.05000 °W
73.23333 °N 24.76667 °W
73.21667 °N 24.76667 °W
73.21667 °N 25.01667 °W
73.20000 °N 25.01667 °W
73.20000 °N 25.05000 °W
The licences are currently in credit due to previous expenditure. Expenditure
above the minimum regulatory requirement is carried forward for a maximum of
three years. Eleonore North is in good standing and GreenX owns 100% of the
licences following conclusion of a revised option agreement as announced on 15
July 2024..
GreenX will issue a 1.5% NSR for Eleonore North.
The security of the tenure held at the time of reporting along with any known The licences are in good standing.
impediments to obtaining a licence to operate in the area.
Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. 1953 - lead, copper and zinc bearing veins were discovered in Noa Valley as
part of a regional mapping program by Nordisk Mineselskab A/G ('Nordisk').
1974 - 1976: Nordisk mapped the Holmesø copper-antimony prospect in
Brogetdal, Strindbergland. Geophysical surveying was performed. The
outcropping mineralisation was blasted a 100kg bulk sample was retrieved, of
which 35kg was sent for analysis. Finally, an attempt was made to drill the
mineralisation, and only the top 1.4m of a targeted 17m mineralised horizon
was sampled before the rig broke down. Nordisk concluded that the Holmesø
mineralisation is epigenetic.
1981 - 1983: Nordisk discovered the two small, high-grade tungsten and
antimony-tungsten deposits on Ymer Island. These are respectively known as
South Margeries Dal and North Margeries Dal. These deposits were drilled
Historical Estimates were made. Economic studies were performed but
concluded that more mineralised material was needed. The drilled
mineralisation is open at depth and along strike. The historical work on the
tungsten and antimony is not material to the understanding of the project's
gold potential.
1984 - 1986: As part of Nordisk's search for more tungsten mineralisation, a
large gold bearing vein was discovered in the southern cliff face of Noa
Valley. The mineralisation in the scree was sampled. Geochemical sampling
was also performed which identified a 10 to 15 km long multielement anomaly
dominated by arsenic and antimony, which have a positive correlation with
gold. Nordisk had a strategic shift towards petroleum exploration after this
point in time.
1992: With the demise of Nordisk in 1991, the Greenland state owned
enterprise, NunaOil A/S in collaboration with Australia's Pasminco Ltd did
additional sampling of the Noa gold veins. The program was successful in
finding additional veins in the valley floor and extending the known
mineralisation. However, the corporate mandate was for 'high grade gold'
which it was unsuccessful in locating. This result is unsurprising given
that the veins are above the hornfels and correspondingly yield high-grade
antimony and low-gold content. GEX expects the gold content to increase, and
antimony to decrease at depth towards the causative pluton.
2008 - 2009: GEUS visited Ymer Island and took various rock grab samples in
the Noa Dal area. Assay results from these samples were recently made publicly
available on the Greenland Portal.
2009: NunaMinerals A/S, a public-private spinout from NunaOil A/S, conducted a
heliborne magnetic survey over Margeries Valley and Noa Valley. The purpose
of this survey was to directly detect tungsten, and antimony deposits.
Neither of the known deposits were detectable using this method, however a
distinct circular magnetic feature was identified in Noa Valley. This
magnetic feature was interpreted to be a granitic/intermediate intrusion.
During this time, samples from the South Margeries Dal deposit were sent for
metallurgical analysis, which determined that the material was potentially
suited to direct-shipping-ore, and amendable to basic beneficiation methods.
2011: Avannaa Resources Ltd ('Avannaa') conducted a basin-wide helicopter
supported reconnaissance program. This included visits to the Holmesø
mineralisation. Avannaa concluded that the Holmesø mineralisation was
epigenetic and likely related to the mineralisation observed on Ymer Island.
2018-2019: Independence Group Ltd (subsequently rebranded as IGO Ltd ('IGO')
through a joint-venture agreement with GEX, conducted three field programs
that were focussed on the sedimentary-hosted copper deposit model. During
this time, IGO managed all geological aspects of the program while GEX managed
the logistics in 2018 and 2019. IGO visited Noa Valley in 2018 and 2019 but
focussed on the north slope away from Noa Pluton, and on areas typified by
magnetic highs rather than the lows which define Noa Pluton's circular
magnetic signature. Despite this, quartzite mineralisation reminiscent of
Holmesø was identified but no mineralogy is recorded in the documentation.
While in the field with IGO in 2019, GEX alerted IGO to the presence of
antimony and gold in the south side of the valley, but no commensurate
sampling was performed. During the IGO earn-in period, GEX located the
historical drillhole collars at North and South Margeries Dal
tungsten/antimony deposits.
The Holmesø prospect was visited by IGO in 2018, 2019 and 2022. IGO's
Holmesø sampling did not replicate Nordisk's high-grade blast/bulk sample, or
the drill results. Regional sampling identified diagenetic copper, as well
as remobilised epigentic copper that expresses as course blebs of chalcocite
within porous, bed-cutting, vuggy conduits.
2022: IGO conducted a structural and geochemical sampling program in
Strindbergland (no activity on Ymer Island). This program correctly
concluded that the 'sediment-hosted copper deposit model' is not a suitable
analogy. IGO returned to GEX the licences that were in good standing, with
the indebted licences being relinquished by IGO. The remaining licences
became the 'Eleonore North' project, which is a subset of the original
'Frontier' project area.
2023: In May, GEX installed an array of passive seismic nodes on Ymer Island
within the licence area. Passive seismic nodes record ambient noise in the
crust and accumulate data over many weeks. In September 2023, GEX collected
the nodes from Ymer Island. The nodes were returned to the Institute of Mine
Seismology (IMS) for data download and processing. IMS produced a 3D velocity
model.
Geology Deposit type, geological setting and style of mineralisation. Eleonore North licences, for the most part, cover Neoproterozoic-aged
sediments belonging to the Eleonore Bay Supergroup. These sediments trend
from clastics up to carbonates. The lithology of the sediments is not a
primary consideration in the targeting of reduced intrusion related gold
systems. These sediments are intruded by granites and intermediate
intrusives that are somewhat shallowly sourced due the Caledonian Orogenic
event. However, geochronology of the South Margeries Dal tungsten indicates
that post-orogenic fluid flow occurred. Post-orogenic granitic intrusions
are consistent with RIRGS mineralisation, as the decompression allows for the
fluidisation of gold in the mantle while providing conduits to surface.
Elsewhere, such post-orogenic emplacement is associated with deeply sourced
lamprophyres, like those mapped in Noa Valley and Brogetdal. GEX identified
for the first time, that ~373 Ma post-orogenic mineralisation event is related
to the 385 Ma Kiffaanngissuseq hydrothermal event some 1,000 km to the
north. In the north at Kiffaanngissuseq the post-orogenic event was
characterised by an east-west fluid flow. In the south in the Frontier
region that hosts Elenore North, the post orogenic event was dominated by
magmatic intrusions and little hydrothermal activity. Separating the two
areas is the poorly understood, high-metamorphic grade Eclogite Province where
peak metamorphism is of similar age to the Frontier and Kiffaanngissuseq
processes.
Drill hole Information A summary of all information material to the understanding of the exploration No drilling is reported with these results.
results including a tabulation of the following information for all Material
drill holes:
easting and northing of the drill hole collar
elevation or RL (Reduced Level - elevation above sea level in metres) of the
drill hole collar
dip and azimuth of the hole
down hole length and interception depth
hole length.
If the exclusion of this information is justified on the basis that the No information was excluded from the announcement.
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum No data aggregation has been undertaken.
and/or minimum grade truncations (eg cutting of high grades) and cut-off
grades are usually Material and should be stated.
Where aggregate intercepts incorporate short lengths of high grade results and No data aggregation has been undertaken.
longer lengths of low grade results, the procedure used for such aggregation
should be stated and some typical examples of such aggregations should be
shown in detail.
The assumptions used for any reporting of metal equivalent values should be No metal equivalent results have been reported.
clearly stated.
Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration No drilling is reported with these results. The reported results are grab
Results. If the geometry of the mineralisation with respect to the drill hole samples from within or adjacent to mineralised veins and structures. They do
angle is known, its nature should be reported. not characterise the geometry of the mineralisation.
If it is not known and only the down hole lengths are reported, there should N/A
be a clear statement to this effect (eg 'down hole length, true width not
known').
Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts Appropriate maps and tables are included in the main body of this
should be included for any significant discovery being reported These should announcement.
include, but not be limited to a plan view of drill hole collar locations and
appropriate sectional views.
Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, All results are reported in Appendix 1: Table 1.
representative reporting of both low and high grades and/or widths should be
practiced to avoid misleading reporting of Exploration Results.
Other substantive exploration data Other exploration data, if meaningful and material, should be reported All substantive data are reported.
including (but not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work The nature and scale of planned further work (eg tests for lateral extensions In Noa Valley, the target pluton(s) is constrained by seismic, magnetic and
or depth extensions or large-scale step-out drilling). geochemical data. The depth to the pluton is thought to be around 150m below
surface based on the seismic results. Field confirmation of potential host
structures is warranted ahead of a subsequent drilling program. Future
fieldwork will be planned and/or undertaken in conjunction with expert
consultant(s).
At the South and North Margeries Dal prospects, a higher resolution digital
terrain model should be obtained prior to generating Exploration Targets based
on the historical drilling.
Bulk sampling at the prospects will also be considered.
Diagrams clearly highlighting the areas of possible extensions, including the These diagrams are included in the main body of this release.
main geological interpretations and future drilling areas, provided this
information is not commercially sensitive.
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