GreenTech hoping to extract value from Artemis' Pilbara portfolio

NICKEL, copper, cobalt and gold in Western Australia’s Pilbara and Fraser Range provinces are the focus for yet another new explorer hitting the funding trail: GreenTech Metals.
GreenTech hoping to extract value from Artemis' Pilbara portfolio GreenTech hoping to extract value from Artemis' Pilbara portfolio GreenTech hoping to extract value from Artemis' Pilbara portfolio GreenTech hoping to extract value from Artemis' Pilbara portfolio GreenTech hoping to extract value from Artemis' Pilbara portfolio

One of two Whundo pits, mined by Fox in the 2000s

Haydn Black

Reporter

The company is hunting for A$5 million at 20c to explore assets being pulled together from several sources, including the flagship Whundo project from Artemis Resources.
 
It will acquire interests in several projects from Artemis, including the Osborne and Ruth Well nickel projects and the Weerianna and Nickol River gold projects.
 
Dundas and Mawson South projects in the Fraser Range, and the Windimurra project in the Mid West region, are being vended into the initial public offer by GreenTech technical director and veteran explorationist Tom Reddicliffe, who is credited with discovering the Merlin diamond pipes in the Northern Territory.
 
He is joined on the board by two non-executives: chairman Mark Potter and director Guy Robertson, both of whom are associated with Artemis.
 
Potter is Metal Tiger's chief investment officer, and Robertson is also an executive director at Hastings Technology Metals and Metalbank. 
 
Whundo is 40km south of Karratha and 12km from Artemis' Radio Hill, and hosts known copper and zinc deposits.
 
The oxide resources were mined by Fox Resources in the mid-2000s, and Artemis completed more recent drilling to access the accuracy of the historic data and deliver remaining oxide resources for the two existing pits of 400,000t grading 1.8% copper and 0.5% zinc, plus fresh resources of 2.3Mt at 1% copper and 1.3% zinc. 
 
GreenTech aims to test for extensions and drill a number existing prospects, including Yannery and Ayshia prospects and an untested electromagnetic anomaly, while surveying an area between Whundo and Yannery.
 
At Osborne, which is 16km southeast of Karratha, work by Legend Mining in 2005 defined several prospects, with the best being the Osborne nickel target, the top of which has been modelled at a depth of 100 metres.
 
The Hickmott prospect is just 4km from GreenTech's Ruth Well nickel-copper deposit.
 
The unmined Ruth Well was originally discovered in 1971 and has some similarities to extrusive Kambalda nickel deposits. 
 
Artemis defined resources of 100,000t of oxide ore grading 0.4% copper and 0.4% nickel and fresh ore of 200,000t at 0.4% copper and 0.6% nickel in 2018 at a time it was hopeful of restarting the Radio Hill plant. 
 
The company sees potential for intrusion related deposits similar to Radio Hill, and multiple EM targets for drilling. 
 
The large Elysian project, which is partially surrounded by Novo Resource's Karratha gold project, is prospective for conglomerate-hosted gold.
 
In the Fraser Range, GreenTech is looking at the northern Fraser Zone, just 15km from Legend's emerging Mawson nickel-copper deposit, but there has been little exploration of the Mawson South area.
 
The Dundas project covers some 22sq.km of the Dundas gold field at the southern extremity of the Norseman greenstone belt. The area has been sporadically explored since 1987, with Anglogold Ashanti dropping the area in 2013 after auger holes in the area failed to intersect any gold mineralisation. 
 
The area is covered by transported soils and colluvium that may obscure greenstone rafts.
 
GreenTech has budgeted $2.1 million for exploration across Whundo, Ruth Well and Osborne as its major exploration focuses.
 
Artemis is expected to own 15% of GreenTech, with Reddicliffe owning 8.5% and Bennelong Resource Capital 7%.