Lithium Australia progressing Ravensthorpe project

THE DRILL SERGEANT: Lithium Australia (ASX: LIT) has completed a round of fieldwork at the company’s Ravensthorpe lithium project located south east of Perth in Western Australia.

The company said the recent fieldwork generated further discoveries of lithium mineralisation within the project area, mainly at the Phillips South prospect.

Previous discoveries at Ravensthorpe include the Horseshoe and Deep Purple prospects.

Lithium Australia said the Horseshoe prospect alone hosts an Exploration Target of 900,000 tonnes of lithium mineralisation at a minimum grade of 1 per cent lithium oxide (Li₂O) – with a size range from 525,000 tonnes to 1.281 million tonnes and grade range of 0.8 per cent to 1.2 per cent Li₂O.

Lithium Australia indicate it has soil sampling planned for the Phillips South prospect, north of the Deep Purple prospect and in an area about 1km west of the Horseshoe prospect, however this work has been deferred until weather conditions improve.

Drilling planned for both the Horseshoe and Deep Purple prospects will not be commenced until completion of environmental surveys and subsequent site-works, which also need to wait for drier weather prevails.

“Exploration success at Ravensthorpe adds significant potential to our Yilgarn portfolio that has been recently expanded through the consolidation of mineral rights at Lake Johnston, and the Widgiemooltha acquisition within the Goldfields Lithium Alliance with Cazaly Resources,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“The identification of abundant lithium pegmatites at Ravensthorpe is pleasing, and confirms the potential of the area, long since realized by Galaxy Resources, at nearby Mt Cattlin.”

Email: info@lithium-au.com

Website: www.lithium-au.com