Green Critical Minerals Ltd (ASX:GCM) has completed a geochemical soil sampling program at the Glencoe Project in Queensland, revealing the presence of a 2-kilometre-long north-south geological trend, prospective for nickel, copper and platinum group element (PGE) mineralisation.
GCM collected 90 stream sediment and 174 soil samples from exploration permit 28434, which it used to better understand a broad, undefined platinum, palladium, copper and nickel zone detected by previous explorer Eastern Exploration Ltd.
Results of geochemical survey
The company says it is pleased with the results of its geochemical survey, which reveal a largely coincident nickel-copper-palladium-platinum anomalism over the centre of a strongly magnetic ultramafic intrusive complex – in other words, highly prospective geology with potential for economical mineralisation.
This anomalism appears to strengthen toward the south, with maximum nickel results of 580 parts per million (ppm) and 430 ppm, before passing under colluvial cover (sand, dirt and other sediment accumulation).
Green Critical Minerals believes the geology points to a sulphide body within the ultramafic intrusive, as there is no laterite development under the colluvial cover and the metal results from soil sampling can’t be explained by an enriched soil profile.
From here, GCM intends to complete an airborne electromagnetic survey at Glencoe, which will allow the company to detect massive sulphide ores at depths exceeding 500 metres, as well as follow-up drill testing on any conductive bodies detected.
Tenement and exploration grant applications
GCM, confident in the prospectivity of the Glencoe area, has applied for three more exploration permit minerals (EPM) applications over new targets beneath colluvial cover, extending the project tenure to the south.
Glencoe EPM and new GCM applications over magnetic and palladium geochemical targets
Given the critical nature of the minerals GCM is exploring for at Glencoe, the company has also applied for a Collaborative Exploration Incentive (CEI) grant, which if successful will partly or completely fund the planned EM survey at the project.
The company asserts that “as the target contains a number of critical metals, mostly not produced within Queensland, GCM considers its application as having a good chance of success”.
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