Heavy Minerals completes resource extension drilling at Port Gregory garnet project
Heavy Minerals executive director and chief executive officer Nic Matich said the broad mineralised intersections were a “spectacular start” to exploration at its Port Gregory project and strengthen confidence in the exploration target.
Perth-based explorer Heavy Minerals (ASX: HVY) has completed a 139-hole infill and air core drilling campaign for 4,455 metres at its wholly-owned Port Gregory garnet project in Western Australia.
Drilling tested east, north and south potential extensions to a maiden resource estimate released in May which sits at 135 million tonnes grading 4% total heavy minerals (THM) at a 2% cut-off grade.
It aimed to improve the resource classification prior to a pre-feasibility study and the release of an updated resource in the new year.
Non-executive chairman Adam Schofield said the company is pleased to have finished the campaign.
“Visual observations while panning suggest we will receive positive results for the extension drilling which may result in a resource upgrade at Port Gregory,” he said.
“We are awaiting the first batch of assays from the laboratory, and we look forward to releasing the collated results of this program in the new year as it is an important step for us leading into a pre-feasibility study.”
Project tenements
The Port Gregory project consists of six tenements totalling 227.28 square kilometres over approximately 50km of land north of Geraldton and is prospective for industrial minerals.
Earlier work defined an exploration target of between 3.5 – 4.5Mt in-situ garnet grading between 3.5% and 4.5% heavy minerals.
The project’s total estimate comprises an indicated resource of 88Mt at 3.8% THM, 10% slimes (clay) and 9% oversize containing 3.3Mt of THM with an assemblage of 89% garnet, 4% ilmenite, 2% rutile and 0.6% zircon.
It also contains an inferred 47Mt at 4.5% THM, 10% slimes and 11% oversize containing 2.1Mt of THM with an assemblage of 91% garnet, 4% ilmenite, 1% rutile and 0.5% zircon.
Red Hill maiden drilling
Heavy Minerals is set to commence a maiden 1,400m air core drilling program in January at the Red Hill prospect, 37km to the south of Port Gregory.
Work will aim to delineate a potential resource based on positive results generated from an auger campaign earlier this year.
Assays are expected by March with a potential resource being released towards mid-2023 pending positive results.
Mr Schofield said the company will strive to add significant value to the project through resource expansion and feasibility work over the next 12 months.