IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Greatland Gold (AIM:GGP) confirmed the presence of additional broad widths of shallow gold mineralisation at its 100%-owned Firetower project in Tasmania. This, following a diamond drilling campaign designed to test the property’s main zone of gold mineralisation.
In detail, the miner carried out a systematic, grid-based drilling program at Firetower, comprising 14 diamond holes with depths from 50 metres to 160 metres, for a total of approximately 1,530 metres.
In addition to gold, zinc and silver mineralisation has been intersected in the first drill hole at Firetower East
In a media brief, Greatland reported that best results include 13.5m at 2.00g/t Au from 14.5m in hole 2019FTD008; 13.5m at 2.44g/t Au from 59.5m in hole 2019FTD011; and 38m at 1.12g/t Au from 11m in hole 2019FTD013.
“We are pleased to report a second set of positive results from our recent drilling campaign at Firetower. They show a further improvement in the continuity between drill sections and highlight the potential for a robust, near-surface gold system,” CEO Gervaise Heddle, said in the press release. “Initial results at the previously undrilled Firetower East prospect are also promising, with drilling intersecting silver and zinc mineralisation and the potential for a Volcanic Hosted Massive Sulphide system.”
The Firetower project is located in central-north Tasmania and covers an area of 62 square kilometres. It lies in the eastern part of the highly-mineralised Mt. Read volcanic rocks which host polymetallic deposits such as Hellyer and Roseberry, copper deposits such as Mt. Lyell, and the Henty gold mine which has produced over 1.25 million ounces since 1996.
