Exploration Plan
Greentech also offers exposure to the rapidly growing green tech supply chains of metals used more generally in the high-tech industry sector.
The Company’s tenements are highly prospective for other green-tech minerals such as copper, rare earths and vanadium exploration on its 500 sq km’s of prime exploration area in North Queensland.
Tenement EPM25894 is located within a short distance from Mt Isa. Previously, it was owned by MIM Resources Development Pty Ltd (a Glencore Company) (“MIM”) before Millungera, a wholly owned subsidiary of the Company was granted the Tenement in 2015.
Queensland Mines Department records show that MIM completed a soil sampling program over the area now covered by EPM 25894. The wider programme took 3650 soil samples which were collected at 50m centres on 500m spaced east- west lines. The works were conducted during the year ended in May 2014.
MIM had identified a number of targets with the potential to host buried uranium, phosphate, minor gold and some copper.
MIM stated in their report No 3927 that 202 samples taken assayed good results which showed between 1000-5000ppm of phosphorus. Most of these good assay results were from samples taken on ground now covered by the Greentech’s Tenements EPM 25894, EPM19373 and EPM25091.
The Company has identified on its exploration areas 69 surface outcrops of quartz deposits which independent geologist believe may contain up to an additional 1.8 million tons of quartz ore. The Company plans immediately upon listing on the ASX to undertake low-cost sample and testing works to further define the mining potential of these deposits.
Greentech has a total of 500 sq km’s of prospective exploration area in a Tier 1 location near Mt Isa a known copper belt with available prior exploration data identifying the potential for the discovery of green essential minerals such as copper, rare earths and vanadium. The Company plans, after listing on the ASX, to undertake extensive exploration works on this area to explore for more green tech minerals.
The results from these companies have indicated that there is potential for iron-oxide copper-gold (IOCG) mineralisation in the broader region. The regional geophysical coverage suggests that the prospective area extends into the eastern parts of EPM’s 19373, 25894 and 26051 (Section 3.3). The program will commence with reprocessing of the available geophysical data and the potential acquisition of additional geophysical surveys, especially in areas of thin Cambrian and younger cover that may have obscured surface indications of copper mineralisation.