Calidus Resources Reports Increase in Size of Spear ill Lithium Discovery

THE DRILL SERGEANT: Calidus Resources (ASX: CAI) reported further results achieved at the Spear Hill lithium discovery in Western Australia by Pirra Lithium, which is owned equally by Calidus and Haoma Mining NL.

Calidus Resources said recent rock-chip sampling and mapping by Pirra Lithium had almost doubled the known strike length of outcropping lithium-bearing pegmatites at the Spear Hill lithium discovery to 4.3 kilometres.

Assays received for a further 30 rock-chip samples from a newly discovered pegmatite swarm 1.7km south-west of the original discovery area yielded lithium grades up to 2.35 per cent and 808ppm tantalum.

The samples were collected from three exposed pegmatites and areas of muscovite and lepidolite alteration over nearly 1.8km of strike length.

“This discovery of another significant pegmatite outcrop in the vicinity of the previously announced results confirms the presence of a significant lithium pegmatite system,” Calidus Resources managing director Dave Reeves said in the company’s ASX announcement.

“These results have provided additional drill targets that demand to be tested.

“The expansion of the mineralised system at Spear Hill reinforces the substantial prospectivity across the large tenement package and rights owned by Pirra Lithium.

“As a result, the shareholders of Pirra Lithium have decided to commence a demerger process and IPO of Pirra Lithium later this year.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@calidus.com.au

 

Web: www.calidus.com.au