Greenvale Mining has extended its Alpha torbanite project with the granting of a 32 sub-block tenement in the surrounding area.
The company applied for the area to cover possible extensions of
the torbanite mineralisation and prevent potential competitors from encroaching.
“The granting of EPM 27718 has been a strategic priority for the company and will allow us to extend our exploration program to fully evaluate the potential scale of the torbanite mineralisation,” Greenvale Mining managing director Neil Biddle said.
Greenvale Mining this month kicked off a $1.5 million program of drilling and bulk sample collection at its project, about 50km south of the town of Alpha in Central Queensland.
An SRK Consulting study has shown that the Alpha deposit is exceptionally high-grade, containing up to 650 litres of hydrocarbons per tonne of torbanite.
Greenvale views Alpha as a potential domestic supplier of bitumen in Australia, and is also evaluating markets for the other value-added products.
The company is planning detailed desktop studies for the newly granted area under Exploration Permit for Mineral (EPM) 27718 and a technical review of available historical data
It will also undertake preliminary resource evaluation and modelling in line with the works already commenced on the existing Alpha tenement (Mineral Development Licence 330).
Greenvale says historical drilling and geological mapping in the current field program has identified potential extensions of the torbanite mineralisation to the north-west and to the southeast of the main torbanite zone contained within MDL 330 (See map below).