- Heavy Minerals (HVY) ‘significantly’ expands the mineralized footprint of its Port Gregory Garnet and Heavy Minerals Project in Washington State following a recently completed core drilling campaign
- The company says the step-out drilling covered a footprint 40% larger than the originally reported exploration target, returning multiple shallow high-grade Total Heavy Minerals (THM) intersections.
- Notable intersections include 9.3% THM over 12 meters from surface, 7.7% THM over 15 meters from surface and 5.7% THM over 27 meters from one meter depth.
- Executive Director and CEO Nic Matich says the results “significantly strengthen the project’s foresight”
- HVY shares up 8.11% at 20 cents
Heavy Minerals (HVY) has “significantly” expanded the mineralized footprint of its Port Gregory garnet and heavy minerals project in Western Australia following a recently completed core drilling campaign.
The program consisted of 83 holes for an overall drill coverage of 2,927.8 meters.
The company said it completed step-out drilling to cover a footprint 40% larger than the originally reported exploration target, returning several shallow, high-grade total heavy mineral (THM) intersections.
Notable intersections in the program included 9.3% THM over 12 meters from surface, 7.7% THM over 15 meters from surface and 5.7% THM over 27 meters from one meter downhole. hole.
Heavy Minerals said step-out drilling uncovered a larger, thicker, high-grade mineralized sand package that had not been previously identified or included in previous exploration targets.
Mineralization remains open to the north and south, according to the company.
Heavy Minerals said the areas would be targeted for follow-up drilling to determine the extent of mineralization.
Executive Director and CEO Nic Matich said the latest set of drill results “cannot be underestimated”.
“Extending the mineralized footprint by this amount with shallow high-grade mineralization significantly enhances the prospectivity of the project,” he said.
“As additional work improves our understanding of the project, we are seeing more and more similarities with other garnet operations active in the region.”
Later this month, the company expects to file an initial JORC mineral resource estimate for Port Gregory.
HVY shares were trading up 8.11% at 20 cents at 2:05 p.m. AEDT.