GGE confirms visible antimony mineralisation on US project
Our Investment Grand Gulf Energy (ASX: GGE) just sampled visible antimony from its project in Utah, USA.
Last week GGE acquired an option on the Dry Wash Antimony Project, in Utah.
(next door to $200M capped American Tungsten and Antimony and $25M Red Mountain)
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GGE’s exploration theory is that the antimony canyon system from American Tungsten and Antimony’s projects runs into GGE’s ground:
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Today GGE confirmed visible antimony in samples taken from its project - right near the border with American Tungsten and Antimony:
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Here is an image of the visible mineralisation:
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GGE took a total of 20 samples, with results from the sampling pending.
What’s next for GGE?
US critical minerals project
Next, we want to see GGE rank some drill targets on its ground through some sampling and targeted geophysical surveys planned for this year.
We also noticed GGE announced a $500k placement today at 0.2c per share which should give GGE enough of a cash runway to at least get the geophysical surveys started.
Offshore oil and gas asset
We are still waiting for GGE to convert its offshore oil and gas lease application into a granted license.
While sentiment is fairly negative for offshore oil and gas right now, we think that eventually sentiment will turn and the market could start to appreciate the location of GGE’s asset - offshore in Namibia…
Check out our deep dive note on that asset where we explain:
