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DGR Global Ltd

DGR Global’s subsidiary Coolgarra Minerals intersects gold and cobalt-nickel assays in Greenvale South drilling

The project consists of four exploration permits and one recent application covering a belt of gold, antimony and nickel-cobalt-copper mineralisation extending south from the $1-billion SCONI development.

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Coolgarra Minerals was founded by DGR Global in 2011 and owns the Greenvale South project in north Queensland

DGR Global Ltd’s (ASX:DGR) subsidiary Coolgarra Minerals has intersected gold and cobalt-nickel assays in first-pass drilling at the Greenvale South project in north Queensland.

To date, Coolgarra has conducted surface geochemistry over selected parts of the southern portion of the project area, partially outlining targets at Wallys Hope, Janelles Hope and the Wade prospect.

Stream sediment geochemistry has indicated that the cobalt-nickel-manganese mineralisation is extensive and likely to contain high cobalt grades.

 

 

0.16% cobalt

A gold assay of 14 metres at 1.67 g/t was recorded at the Wallys Hope North prospect and a cobalt-nickel intercept of 8 metres at 0.16% cobalt and 0.74% nickel was recorded at the Wade prospect.

A small mobile drilling rig was used to drill traverses of shallow holes over the peak geochemical targets at Wallys and Wade, as well as a traverse designed to locate ultrabasic host rocks under alluvium north of Wade.

At Wallys Hope, the shallow drilling traverses intersected metasediments and small bodies of granite with fine veinlets, and in the deepest holes, minor pyrite and arsenopyrite.

Nickel-cobalt mineralisation

The northern traverse intersected the bedrock gold between 0 metres and 14 metres in PAN3 and the southern traverse over the main target intersected low grades.

At Wade, the drilling traverse tested an unclosed and zoned cobalt-nickel-gold soil anomaly with seven holes.

The holes intersected a gently dipping structure containing zoned nickel-cobalt mineralisation.

The distribution of the mineralisation and the precious metal association suggests that this deposit is the enriched portion of a sulphide lode occupied by an unusually chrome-rich gabbro.

Further exploration and drilling

Coolgarra is encouraged by the gold and nickel results from this program and intends to extend its activities into newer areas of the Greenvale South project.

A further field exploration program and drilling will be planned for follow-up given the nature of these encouraging results and the proximity of the prospect areas to established third-party mines. 

- Jessica Cummins 

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