LINCOLN SPRINGS COBALT PROJECT COMPLETION OF INDUCED POLARISATION SURVEY•
Preliminary Interpretation of results has identified several zones of strong chargeability which sit within the Lincoln Springs Shear Zone coincident with known Copper-Cobalt mineralisation occurrences (Lincoln Springs Prospect & new discovery outcrop).• Induced Polarisation geophysical survey has now been completed.• Data processing/inversion modelling of IP results is continuing and will prioritise targeting forfuture drill testing.• Drilling planned for early next year.Greenpower Energy is pleased to update the market about ongoing exploration activities at its Lincoln Springs Cobalt Project located west of Townsville in Queensland (Figure 1). The ground Induced Polarisation (IP) geophysical survey, mentioned in an exploration update released to the market on the 20th November 2018, has now been completed.The IP survey consisted of two components. The first component being a gradient array IP (GAIP) component which covered an approximate 2km x 1.2km area with readings taken along 21 north- south 100m spaced lines with 50m receiver dipoles. The second component of the survey consisted of three 1100m long north-south oriented dipole - dipole IP (DDIP) sections completed over the Lincoln Springs Copper-Cobalt workings and the new discovery outcrop area. The three dipole-dipole IP sections were completed utilising a 150m line spacing and 50m dipole spacing. The surveying was completed by Fender Geophysics Pty Ltd with data interpretation and modelling by Russell Mortimer of Southern Geoscience Consultants.Clear anomalous IP/resistivity targets correlate with known copper-cobalt mineralisation occurrences and extend further along strike. Preliminary results have already indicated that the GAIP surveying is highly effective in the local electrical environment and is clearly mapping geological targets/corridors of interest and structure (Figures 2 & 3).Given these very encouraging GAIP results an initial DDIP survey was completed in the vicinity of the known copper-cobalt mineralisation occurrences. Preliminary inversion of the DDIP resultant data has provided very strong chargeability targets both at shallow and deeper level below/downdip of the known mineralisation and highlighted a southerly dip and correlating low resistivity potentially defining the presence of significant sulphides (Figure 4). These anomalies represent high priority Greenpower Energy LimitedABN 22 000 002 111 www.greenpowerenergy.com.auT: +61 299 991 515 Level 1, 33 Colin Street WEST PERTH, WA 6005 ASX ANNOUNCMENT29 November 2018targets. Further detailed processing/inversion modelling will proceed upon receipt of final data to refine future drill targeting criteria.Greenpower expect to receive the results from the recently completed soil sampling survey within 2 weeks. This data will then be combined with the final geophysical report to prioritise drill targets.
