Greenpower’s assay results identify district scale LCT pegmatite system
Greenpower Energy (ASX: GPP) announced on Friday that it had received the final batch of assay results in relation to the exploration initiatives the company has been taking at its Robello Rare Earth Elements (REE) project.
In addition to the Rare Earth Elements discovery, Phase 1 of the Morabisi lithium-tantalum-REE project has been successful in identifying lithium-Cesium-tantalum (LCT) pegmatites with geochemistry suggesting they occur on a district scale.
Stream geochemistry has identified three strong target areas with LCT indicator elements. These three areas are Turesi Ridge, Banakaru (20 kilometre ridge) and East Camp (20 kilometre ridge.
Samples collected in the course of the Morabisi program are as follows.
With regard to the broader project, management said the historic mines at Robello were very evident with several remnants of heavy equipment left behind by the Morabisi Mining Company.
There was evidence of the impact of floods, and while this made it difficult to find a suitable location to dig test pits, two locations delivered promising sample material, producing a heavy concentrate samples for Coltan.
It should be noted here that this company is in the early stages of its development on all fronts and investors should therefore take a cautious approach to any investment decision made and seek professional financial advice with regard to this stock.
Results from pit sampling returned high grades of up to 1.03% Nb205 and 0.25% Ta205. Management is of the view that some of the results are likely ore grade in an alluvial mining scenario, but it is important to bear in mind that this sample was collected as a standard stream sediment sample and not a gravel concentrate.
As Rare-Earth Elements are heavy minerals, higher grades would be expected closer to bedrock.
The following details the area tested as well as the results of some of the samples.
Commenting on the significance of these results, GPP Executive Chairman, Gerard King, said, “The results received to date are very encouraging and indicate a district scale LCT pegmatite system is evident at Morabisi, in addition to what looks potentially like an economic alluvial REE, Tantalum and Niobium deposit within the same PGGS permit area”.
Discussing upcoming objectives, King said, “The joint venture is currently finalising its views on Phase 2 with the general view being to immediately employ a portable track mounted diamond drill rig to test LCT pegmatites in fresh rock and better understand the potential of the ore body.”
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.