GreenTech Metals has restarted its stage 2 diamond core drilling at the Whundo Cu-Zn project in West Pilbara, backed by a completed $2.3 million placement to fund exploration and resource expansion efforts.
- Stage 2 drilling program recommenced at Whundo Cu-Zn project
- Focus on down plunge conductor targets at Austin, Shelby, Yannery, and Ayshia
- Second tranche of $2.3M placement completed for exploration funding
- Additional $1M drill-for-equity deal with Topdrill and $140K WA government grant
- Potential to significantly increase existing copper-zinc resources of 6.19Mt
GreenTech Metals Resumes Critical Drilling Phase
GreenTech Metals (ASX: GRE) has officially recommenced its stage 2 diamond core drilling campaign at the Whundo copper-zinc project, located in the West Pilbara region. Following a brief holiday pause, the drilling contractor Topdrill is back onsite, advancing a program designed to test promising down plunge conductor targets identified in earlier exploration phases.
The stage 1 program, which included 1,710 metres of reverse circulation drilling, revealed significant potential for resource expansion within the Whundo cluster of volcanogenic massive sulphide (VMS) style deposits. Building on these results, the current drilling is focused on key targets at Austin, Shelby, Yannery, and Ayshia, where mineralised shoots have been identified.
Funding Secured to Drive Exploration Momentum
Backing this exploration push, GreenTech has completed the second tranche of a $2.3 million placement to sophisticated and institutional investors, following shareholder approval at an extraordinary general meeting held on 31 December 2024. This capital injection, combined with a $1 million drill-for-equity agreement with Topdrill and a $140,000 Exploration Incentive Scheme (EIS) grant from the Western Australian Government, provides a robust financial foundation for the ongoing drilling campaign.
Executive Director Tom Reddicliffe expressed optimism about the program, highlighting the integration of down-hole electromagnetic (DHEM) surveys to refine targeting and the recent fixed loop electromagnetic (FLEM) survey completed in December. The interpretation of these geophysical data is expected to unlock further drill targets and enhance the understanding of the mineralised system.
Resource Growth Potential and Strategic Implications
The Whundo project currently hosts combined copper-zinc resources of approximately 6.19 million tonnes grading 1.12% copper and 1.04% zinc. The new drilling campaign aims to identify and quantify additional resources, with the potential to significantly expand these figures. The targeted conductor plates and mineralised envelopes suggest that the Whundo cluster remains open at depth and along strike, offering substantial upside for resource growth.
GreenTech’s strategic focus on battery and electric vehicle metals aligns with the global green energy transition, positioning the company to benefit from rising demand for copper and zinc. The West Pilbara’s geological setting and GreenTech’s methodical exploration approach underscore the project’s potential to contribute meaningfully to the critical minerals supply chain.
Looking Ahead
As the stage 2 drilling progresses, the market will be watching closely for assay results and the outcomes of the DHEM surveys, which will guide follow-up drilling decisions. The combination of fresh capital, advanced geophysical techniques, and a clear resource expansion strategy sets the stage for a pivotal period in GreenTech’s development trajectory.
Bottom Line?
GreenTech’s renewed drilling and solid funding position could unlock significant resource growth, but results will be key to validating this potential.
Questions in the middle?
- How will upcoming assay results from stage 2 drilling impact GreenTech’s resource estimates?
- What new targets might emerge from the interpretation of the recent FLEM survey data?
- How will the drill-for-equity agreement with Topdrill influence exploration efficiency and costs?