Significantly, the company intersected 52 metres of mineralisation in four lenses between 12.3 metres and 87.7 metres downhole.
Test work to assess Mt Venn’s economic potential commencing
Metallurgical test work will now commence to define the flowsheet that can maximise the value of various product streams available from the project.
The first phase of test work will focus on the "front end” of the process (grinding, flotation and leaching) aiming to generate a clean copper concentrate.
The second phase will have a greater focus on defining the “back end” of the process to produce various nickel and cobalt products.
Multi-pronged exploration strategy to continue
In parallel with the metallurgical test work, Great Boulder has resumed exploration at Mt Venn.
Exploration will take a two-pronged approach, targeting extensions to known mineralisation while also developing additional “greenfield” targets within the Yamarna-Mt Venn project.
Infill and extensional drilling will commence this weekend following completion of a downhole electromagnetic (DHEM) survey that is currently underway.
The results will be used to update the DHEM conductor plates and finalise reverse circulation drilling plans for the upcoming program.
Large amount of mineralisation identified in a small area
Stefan Murphy, managing director, said: “The metallurgical test work will provide a valuable insight into both the technical and economic outlook for Mt Venn
“In parallel with these tests, we will continue our multi-pronged exploration strategy to continue growing the size of what is already a significant discovery.
“After a very short period of exploration at Mt Venn we have delineated a large amount of mineralisation in only a very small area.”
Gravity survey over the larger Mt Venn and Eastern Mafic complexes
Ground gravity survey over the Mt Venn and Eastern Mafic complexes will also commence this week and is expected to take three weeks to complete.
Circa 70% of Great Boulder’s Yamarna project will be covered by the survey, with the results used in conjunction with magnetic data to generate a 3D inversion model.