GeoCrystal is poised to become Australia’s next major diamond exploration company on the ASX via its Webb diamond project located in the Gibson Desert
KEY INVESTMENT HIGHLIGHTS
- Highly prospective and advanced exploration projects with potential for significant discovery
- Exceptional large-scale portfolio located in the heart of Australian diamond country
- Lack of quality Australian diamond investment exposure on the ASX
- Experienced Board & Management Team with previous Diamond Success and Major Diamond Discoveries
GeoCrystal Limited (“GeoCrystal” or “Company”) is poised to become Australia’s next major diamond exploration company on the ASX via its Webb diamond project located in the Gibson Desert of Western Australia, Merlin South and Yambarra in Northern Territory.
The Webb Project is the only kimberlite field discovered in Australia in over 20 years and through spending over $4m in exploration, the Company has earned an 81.5% interest in five of the six granted exploration licenses and identified 51 kimberlite bodies for priority exploration follow up.
GeoCrystal is led by some of Australia’s most credentialed diamond explorers, including Tom Reddicliffe as Technical Director, who is credited with discovering the Merlin diamond pipes in the Northern Territory in 1993 and Consultant, Ewen Tyler who was the founding director of Ashton Mining which discovered the Argyle Diamond Mine, which was acquired by Rio Tinto in 2000 for US$418m.
The Company will focus its efforts on the exploration program for the Webb property including a review of the airborne magnetics, implementation of ground magnetic surveys over priority airborne magnetic targets, followed by a drilling program of remaining selected targets and drill bulk-sampling with large diameter core, with the aim to find the source(s) of the known diamonds presents on the tenement.
Geocrystal’s flagship Webb diamond project is located in the Gibson Desert of Western Australia, which was discovered in 2013 and is one of the largest kimberlite fields to be discovered in Australia since the discoveries of the Ellendale, Argyle and Merlin clusters more than 20 years ago. To date the Company has spent over $4m in exploration and has earned an 81.5% interest in five of the six granted exploration licences that comprise the Project. Our drilling programs in the past have successfully identified 51 kimberlite bodies at Webb and there remain 216 untested targets within this very large field.
Some of these targets lie within an area characterised by numerous microdiamonds lying at the surface in desert sands. Following the listing of the Company, a substantial drilling program will be prioritised with the goal of finding the source of these diamonds.
The Company has also negotiated the purchase of an 80% interest in the Merlin South diamond project located in the Northern Territory of Australia. This project area has surface diamonds and kimberlitic indicator minerals that provide good initial leads to locate the kimberlite source through a targeted exploration programme.
The Merlin South project is modelled on the Merlin diamond field 40km to the north which became a renowned producer of large, good quality white diamonds and produced a 104.73 carat diamond, Australia’s largest.
In addition, the Company has a 100% interest in the Yambarra diamond project in the Daly River region of the Northern Territory. Yambarra contains several magnetic anomalies, one of which is a promising kimberlite target within the same regional structure as the Argyle diamond mine. This will be the focus of a targeted drilling program once the tenement is granted.
The Company has assembled an exceptional Board and management team who have extensive exploration and mining experience with an excellent track record of discovery and success. The combined skills of GeoCrystal’s team will provide a significant platform to fast track the exploration and development of the Company’s projects as we move to create significant shareholder value.
Mr Yu is an experienced company director and is currently Chairman of ASX listed Amani Gold Limited. Mr Yu is also director of Hong Kong listed Panda Green Energy Group Limited SEHK:...Read more...
Mr Thomas is a geoscientist and experienced company director and is currently director of ASX listed companies Amani Gold Limited and Kazakhstan Potash Corporation Limited. Mr Thomas has...Read more...
Tom Reddicliffe is a geologist with some 35 years of largely Australian focused diamond exploration and evaluation experience having graduated with an Honours degree in geology in 1974...Read more...
Zlad Sas is a geologist with over 30 years’ experience in diamond exploration having worked extensively on diamond projects in Australia, Africa, India, and Brazil. He graduated with an...Read more...
Mr Bolton is an experienced resources financial professional having held senior executive and leadership positions for junior and multi-national companies in the sector. Prior to moving...Read more...