Greenwing Resources (ASX:GW1) has announced promising exploration updates for its wholly-owned Que River Polymetallic Project in Tasmania. The company is evaluating development options, with a key focus on expanding the project’s resource base. Recent high-grade intercepts immediately below the QR 32 open pit present a compelling mining opportunity. Drill results include QR1276 with 7.45m @ 33.1% ZnEq and QR1278 with 5.85m @ 28.9% ZnEq, highlighting the potential for near-surface mineralisation. Greenwing is assessing cutback options for existing open pits and evaluating the development of new pits, supported by comprehensive data analysis from over 1,300 drill holes within the mining lease.
The company is targeting extensions to the Mineral Resource Estimates (MRE) near the QR32 area, alongside broader resource growth across the project. The current MRE, applying a 5% ZnEq cut-off, contains a significant endowment of in-situ metal, including 75kt of zinc, 10kt of copper, 39koz of gold, 3700koz of silver, and 36kt of lead. The resource is divided into open-pit and underground mining targets, optimising potential viability given current metal prices.
Executive Director Peter Wright emphasised the strategic location, secure tenure, and strong exploration upside of the Que River project. Located near the Hellyer Mine and processing mills at Roseberry and Renison Bell, Que River has a history of mining operations, producing 2.6Mt at 14% Zn, 8% Pb, 0.5% Cu, 3.7 g/t Au, and 205 g/t Ag. Greenwing aims to enhance shareholder value through targeted exploration and resource development within the prospective Mount Read Volcanic corridor. The company plans further drilling to increase confidence in resource blocks and investigate extensions along known mineralised zones.
