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.”