Green Critical Minerals has lodged two new EL applications in order to adequately cover a large copper gold rare earth anomalous area with shallow magnetic IOCG alteration structures. These are EL 33467 (Backblocks North) lodged 2nd February 2023 over 98 blocks, and EL 33468 (Relief Creek) over 185 blocks, also lodged 2nd February 2023. EL 33467 is over freehold and leasehold lands subject to native title, and EL 33468 is over Aboriginal Land, subject to negotiation.

The areas are within the largest, strongest metal anomalism in cover detected by Geoscience Australia in the North Australian Geochemical Survey. Additionally, company stream sediment data on the public NT database reveals that the streams draining the area are gold anomalous but have never been followed up to locate the sources. Exotic (transported by groundwater) copper is also known on the edge of the cover, to the east, at the Yah Yah mine.

Recent GCM commissioned magnetic modelling of public magnetic and gravity data (GA and NT government) revealed extensive shallowly covered NNE striking vertical magnetic structures cutting through the gently dipping mid Proterozoic sediments. These structures underlie the major geochemical anomalies under varying depths of cover. Research conducted by GCM revealed that only one previous drillhole tested any of these magnetic structures.

CRA conducted diamond exploration in this area during the early 1990s and drilled a magnetic body with hole RK2. The hole intersected haematite magnetite silica pyrite chlorite biotite altered, brecciated, and replaced sediments to 290m. The hole was stopped in strong silicification, and the cover depth was only 2 metres.

No metals of value were intersected by this hole, however GCM interprets the intersection as typical IOCG alteration in a barren part of an overall copper gold fertile system. GCM is very pleased with the emerging North Barkly Project, which has the geochemical and geophysical characteristics indicating the potential of an entire new mineral district, with the potential to host copper, gold and rare earth deposits. GCM has planned a resumption of field work in May this year.

Initially, the surface multielement sampling will be extended, with more detail over the magnetic structures. This sampling will be extended to the other EL applications after granting. The first drilling may take place prior to the end of the year, pending regulatory and landowner clearances.

Applications are being lodged for NT Geological survey grants for North Barkly Project sampling and drilling.