Lefroy Exploration Gets Mt Martin Resource Extension Drilling Underway

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THE DRILL SERGEANT: Lefroy Exploration (ASX: LEX) has started resource expansion drilling at the company’s Mt Martin Gold Mine outside Kalgoorlie in Western Australia.

Lefroy Exploration explained this drilling is to be the first new exploration undertaken at Mt Martin in over ten years and will entail some 37 reverse circulation (RC) drill holes planned to evaluate multiple shallow west dipping gold mineralised structures over a 1000m strike length.

The company has interrogated limited shallow historic drilling, from which it has ascertained there to be multiple mineralised shear structures outside the open pit that remain largely untested, including the Adelaide Shear.

This program is designed to extend known mineralised shear zones outside the historic mine workings and deliver additional gold resources for open pit mine development planning.

This program is expected to be completed within three weeks with initial assay results anticipated to be returned in early December, and final results in January 2024.

“We are thrilled to kick off our maiden resource drilling program at the Mt Martin Gold Mine located within Location 45 where we recently acquired the mineral rights over this freehold property,” Lefroy Exploration managing director Wade Johnson said in the company’s ASX announcement.

“Mt Martin contains a significant gold resource beneath the open pit that has remained undrilled for almost 10 years and that presents an opportunity for near term development.

“Our aim is to rapidly assess and grow the resource to pursue restart of the mine as the gold price continues to strengthen.

“We are fortunate to have several major gold mines neighbouring Mt Martin and believe this provides potential options to rapidly realise value from this asset, in addition we have developed a strong exploration framework to significantly grow the resource.”

 

 

Magnetic Resources Increases Laverton Gold Resources

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THE DRILL SERGEANT: Magnetic Resources (ASX: MAU) continued to demonstrate its gold credentials have no sign of slowing down with the release of updated Mineral Resource Estimates (MRE) from deposits in the company’s Laverton and Homeward Bound South projects in Western Australia.

The main deposits contributing to the MRE include Hawks Nest 9 (HN9), Lady Julie Central (LJC), Lady Julie North 4 (LJN4), Mount Jumbo and Homeward Bound South, which are all located in an area with regional infrastructure including three processing plants within 35kms.

Total Mineral Resources reported for the Laverton and Homeward Bound South projects is now 22.7 million tonnes at 1.69 grams per tonne gold at 0.5g/t gold cut-off totalling 1,236,000 ounces of gold.

The company suggested it considers the cutoff grade appropriate for a large-scale open pit operation.

“The Lady Julie North 4 Resource has been the prime drilling focus as reported in periodic releases to the ASX,” Magnetic Resources managing director George Sakalidis said in the company’s ASX announcement.

“It has multiple stacked lodes with a number of thick intersections that have not been closed off at depth.

“The initial deeper drilling started on the 25 January 2023 and has expanded in subsequent months to a 95-hole RC program for 16,356m.

“Drilling is continuing, with holes in excess of 400m depth, which is expected to increase the current resource at LJN4 of 13.1 million tonnes at 2.02 grams per tonne gold for 852,000 ounces at a 0.5g/t cut off.

“This LJN4 deposit sits within a regional structure called the Chatterbox Shear Zone that extends over a 12 kilometres length within the Magnetic tenements.

“This shear extends southwards of LJN4 and has had initial AC and RC drilling completed and some anomalous intersections that will be followed up with some shallow RC drilling for the purpose of finding further gold deposits.

“Drilling in the last six months included diamond drill holes for geotechnical evaluation of proposed pits, and for hydrology analysis.

“Project environmental, heritage and technical background studies are close to completion – optimisation and pit design has commenced on LJC and the expanded LJN4 – the aim is to prepare and submit a Mining Proposal in early 2024.

“Other strategic opportunities are also being investigated.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Alchemy Resources Kicks Off Lake Rebecca Lithium Hunt

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THE DRILL SERGEANT: Alchemy Resources (ASX: ALY) is the latest company to join the ranks of the ‘we’re not going to miss out if there’s a sniff of lithium’ companies by commencing lithium exploration programs on its Lake Rebecca projects in Western Australia.

Alchemy Resources is currently progressing project wide soil geochemistry programs, which it expects to have finished by the end of November 2023.

The soil geochemistry comes on the heels of recent field reconnaissance undertaken by Alchemy as well as a detailed geochemical review of lithium prospectivity that led to a decision to conduct regional soil sampling to assess the potential of all project areas at Lake Rebecca.

It is not surprising exploration for lithium has not been historically carried out, with the majority of the tenure having only ever been explored for gold, due mainly to its proximity to areas of gold production.

Previous soil sampling carried out by Alchemy on the southern areas at Middle Tank prospect identified lithium in soils anomalism.

“Alchemy was very encouraged by the first round of soil sampling at Middle Tank prospect, so the decision was made to cover the rest of Lake Rebecca to assess the lithium potential,” Alchemy Resources CEO James Wilson said in the company’s ASX announcement.

“The regional soils program will give us a broad picture of lithium anomalism and will help generate targets for our 2024 exploration campaign.

“We are excited to have boots on the ground with the soil sampling well underway at Lake Rebecca.

“At the same time we are preparing to test our Karonie lithium caesium tantalum (LCT) Pegmatite targets and hope to commence drilling in early December 2023.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Eagle Mountain Mining Increases Oracle Ridge Mineral Resource Estimate

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THE DRILL SERGEANT: Eagle Mountain Mining (ASX: EM2) has completed a new Mineral Resource Estimate (MRE) on the company’s 100 per cent-owned Oracle Ridge copper project in Arizona, USA.

Eagle Mountain Mining completed the new MRE using the revised geological model that was completed by incorporating drilling and channel sampling data acquired since the October 2022 resource update.

The company consider this revised geological model better reflects the style of mineralisation observed from the new data and underground mapping.

The revised MRE for Oracle Ridge has increased substantially to 28.2 million tonnes at 1.35 per cent copper, 11.06 grams per tonne silver and 0.16g/t gold using a 0.8% copper cut-off grade for 380,000 tonnes of contained copper.

Measured and Indicated Resources account for over half of the new MRE and better grades exist in higher confidence categories of the new MRE.

“The new Mineral Resource Estimate reflects a 27 per cent increase in contained copper on a like-for-like basis from the previous resource and is on track to surpass more than 400 thousand tonnes of contained copper,” Eagle Mountain Mining CEO Tim Mason said in the company’s ASX announcement.

“This update is a key milestone on our path to become a significant producer of copper, with a strong focus on low emission production.

“Our recent refurbishment of the underground mine was instrumental to this latest update, as it provided us with previously unrecognised insight into the geology and mineralisation and has confirmed the mining and processing optionality of the project.

“In particular, we see a greater opportunity for a much larger mining operation at Oracle Ridge than previously contemplated, leveraging off recent advancements in processing and mining technologies to reduce both costs and our impact on the environment.

“Our activities are currently focusing on processing pathways for a lower grade, larger tonnage operation.

“The resource remains open in multiple areas, and we are confident that further resources will be defined.

“We are currently assessing and prioritising resource extension targets, along with upgrades of existing Inferred resources to further de-risk production in the first five years of mine life.

“Taking all this into consideration, I am optimistic that we have the foundations to become a mid-tier copper producer at Oracle Ridge.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Aruma Resources Intersects High-Grade Gold at Salmon Gums Project

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THE DRILL SERGEANT: Aruma Resources (ASX: AAJ) reported further high-grade gold intersections from the company’s 100 per cent-owned Salmon Gums project, in the Eastern Goldfields of Western Australia.

Aruma Resources’ latest phase of drilling comprised a targeted seven-hole diamond core drilling program, designed to follow-up and extend previous gold intersections encountered at the project’s Thistle prospect.

The company declared the latest assays from drilling at Salmon Gums to have confirmed a high-grade gold-bearing structure, results included:

SG23DD007
5.9 metres at 10.5 grams per tonne gold from 38.4m, including 2.6m at 9.85g/t gold from 38.4m and 0.85m at 40.9g/t gold from 43.4m; and

SG23DD003
3.65m at 1.25g/t gold from 42m, including 0.95m at 3.66g/t gold from 42.7m.

The company indicated it would use these results to define the next phase of field work and drilling at the Thistle prospect.

“The latest results from our ongoing exploration at the Salmon Gums project continue to deliver exceptional results and validate our exploration approach,” Aruma Resources managing director Glenn Grayson said in the company’s ASX announcement.

“Norseman-style mineralisation is structurally controlled and can be incredibly high-grade, and this is exactly what we are seeing at Salmon Gums, with our drilling programs continuing to deliver very high-grade gold results, which extend the high-grade mineralised zone at the project.

“Controls on this style of mineralisation are tight, making the combination of structure within the right lithology the key to exploration success.

“We will now commence planning for our next phase of drilling, to further unlock the project’s value.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Charger Metals’ Deal with Lithium Australia Opens Door for Rio Tinto Farm-In

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) and Charger Metals (ASX: CHR) signed a binding agreement for the sale of Lithium Australia’s remaining interest in the Lake Johnston lithium project in Western Australia.

The deal will entail Charger Metals parting with a $2 million cash consideration for Lithium Australia’s remaining 30 per cent holding in the project.

Lithium Australia, however, will not vacate the project entirely with part of the acquisition agreement ensuring it will also receive a conditional first right of refusal over the lithium product produced from the tenements.

This first right of refusal covers lithium product equal to the lower of:

• 30% of the lithium product produced on the relevant tenements for the term of the agreement reached for offtake, should a binding agreement be reached; and

• The lithium product required by Lithium Australia to produce lithium metal phosphate product through a commercial facility(s) in which Lithium Australia has an ownership interest of 25% of more.

A smart move considering Charger immediately announced a binding farm-in agreement with Rio Tinto Exploration (RTX), a wholly-owned subsidiary of Rio Tinto (ASX: RIO) for the Lake Johnston lithium project.

The terms of tis agreement include:

o RTX to pay Charger $500,000 and invest $1.2 million in Charger prior to commencement of farm-in; o RTX to spend minimum $3 million exploration expenditure over the first 12 months;
o RTX can earn 51% by sole funding $10 million in exploration expenditure and paying Charger minimum further cash payments of $1.5 million;
o RTX can earn 75% by sole funding $40 million in exploration expenditure or completing a Definitive Feasibility Study.

“The Rio Tinto Exploration farm-in agreement is an excellent result for Charger and its shareholders and reaffirms our belief that the Lake Johnston project has potential to host a large-scale lithium deposit,” Charger Metals managing director Aidan Platel said in the company’s ASX announcement.

“The planned significant investment by RTX will allow thorough systematic exploration over all of the project tenure, with initial exploration focused on fast-tracking the Medcalf spodumene prospect as well as progressing the Mt Day and Mt Gordon lithium prospects.”

 

TO READ THE FULL LITHIUM AUSTRALIA ANNOUNCEMENT: CLICK HERE

 

 

TO READ THE FULL CHARGER METALS ANNOUNCEMENT: CLICK HERE

 

Resources Family Feuds as Fledgling Minerals Mature

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COMMODITY CAPERS: Gold, it seems, has become the wayward child of the Australian Resources family as siblings copper, lithium and battery minerals, grab investor attention.

It could be said that Gold is presently demonstrating many ‘oldest child syndrome’ symptoms.

It has demonstrated over-achiever tendencies in recent times with USD prices averaging $1,933 (approx. A$2978) an ounce in the first half of 2023.

The high Australian dollar gold prices resulted in an increase to Australia’s gold exports by 7.6 per cent year-on-year to $13 billion in the first half of 2023.

In the first half of 2023, Australia exported US$4.1 billion worth of gold to China, a rise of 28 per cent year-on-year while exports to other financial hubs, including the US, UK, Switzerland, Hong Kong and Singapore produced a combine worth of US$6.6 billion — a 6.2 per cent increase year-on-year.

It hasn’t all been positive news on the Australian gold front, however, with the local industry producing just 149 tonnes of mined gold in the first half of 2023, down by 2.6 per cent year-on-year, a fall that was mainly attributed to heavy rainfall in the Northern Territory, as well as northern parts of Queensland and Western Australia.

“Production at Newmont’s 15 tonnes per year Tanami project in the NT decreased by 18 per cent year-on-year to 5.9 tonnes in the first half of 2023,” the Department of Industry, Science and Resources (DISR) said in its Commonwealth of Australia Resources and Energy Quarterly September 2023.

“Production at Evolution’s 2.5 tonnes per year Ernest Henry project decreased by 43 per cent year-on-year to 0.7 tonnes in the first half of 2023.

“Production at Newcrest’s 20 tonnes per year Cadia mine in NSW fell by 15 per cent year-on-year to 8.9 tonnes in H1 2023.”

The DISR bean counters, however, are optimistic for Australian gold’s immediate future, noting that Australian gold mine production is forecast to increase over the next two years from 302 tonnes in 2022–23 to 312 tonnes in 2024–25.

This increase is anticipated to be delivered from new projects and mine expansions scheduled to come online.

“Production will continue to ramp up for recently commenced projects, such as Red 5’s King of the Hills project, Pantoro’s Norseman project, and Calidus’ Warrawoona gold project,” DISR explained.

“Bellevue Gold’s 5.7 tonnes per year Bellevue gold mine in WA produced first gold from toll treatment in August, with production and processing onsite expected to come online over the second half of 2023.”

If copper was undergoing therapy, it would be diagnosed as displaying classic middle child attributes of feeling inadequate compared to gold the elder and the younger battery-focused siblings.

The importance of copper was highlighted in May this year when mining powerhouse, BHP acquired OZ Minerals, hoovering up the target’s copper and nickel assets in South Australia.

At the company’s recent AGM, chair Ken Mackenzie explained the acquisition will result in BHP combining the Carrapateena and Prominent Hill mines acquired from OZ Minerals with its Olympic Dam asset and Oak Dam project, to create a new copper province – to be called Copper South Australia.

Mackenzie outlined BHP’s decarbonisation and energy transition intentions as it reshapes its current project portfolio to meet future mineral demands.

“This deliberate reshaping of our portfolio, positions BHP to create value for today and into the future,” Mackenzie told shareholders.

“We now have a portfolio that stands to benefit from the increased demand generated from the global megatrends playing out around us.

“Our portfolio includes copper for renewable energy, nickel for electric vehicles, iron ore and higher-quality metallurgical coal for the steel required to build decarbonisation and other new infrastructure.”

It is becoming increasingly difficult though, for gold not to fall into the first-born trap of secretly resenting its younger siblings and the achievements thereof.

Companies exploring for the shiniest of metals are finding it more difficult to hold investor focus as each passing week brings a new lithium discovery to the attention of ASX punters, who are more than pleased to throw their hard earned at any sniff of the essential battery ingredient.

Lithium had already emerged as a market darling before Wildcat Resources claimed a “major lithium discovery” in September based on results from the first drilling program undertaken at the company’s Tabba Tabba lithium tantalum project in the Pilbara, near Port Hedland in Western Australia.

Wildcat Resources released the first assay results from maiden drilling at the Tabba Tabba project which it claimed had confirm high-grade lithium mineralisation from surface in the project’s northern and central pegmatite clusters, demonstrating potential for a large-scale lithium camp.

Most of the excitement stemmed from the central cluster results that included:

TARC086
85 metres at 1.1 per cent lithium oxide (Li2O) from surface (down-hole length), including 59m at 1.5 per cent Li2O from surface and 218m at 0.8 per cent Li2O from 16m; and

TARC089 (down-hole length)
Including 22m at 1 per cent Li2O from 31m, including 23m at 1 per cent Li2O from 152m, including 51m at 1.5 per cent Li2O from 183m to end of hole – estimated true width is approximately 53m.

A second batch of assays quickly followed from the opening drilling program at Tabba Tabba, from which Wildcat claimed confirmation of Tabba Tabba hosting multiple pegmatite clusters containing high-grade lithium mineralisation over broad and continuous intervals.

“The second batch of assay results reinforces our belief that we are onto a terrific lithium discovery at Tabba Tabba,” Wildcat Resources managing director Samuel Ekins said at the time.

“The system is showing it has significant scale, we are seeing impressive intersections at multiple locations and the central pegmatite cluster seems to be getting better with depth.

“We are very excited about the potential and look forward to more results as we continue to aggressively explore the project.”

The ranks of hot lithium exploration companies soon expanded with TG Metals reporting on exploration drilling activities at the company’s Lake Johnston lithium-nickel-gold project in, also in WA.

TG Metals conducted RC drilling designed as an initial test of the Burmeister lithium soil anomaly it had previously defined that covers an area of approximately 4.5km by 1.7km, with the Phase 1 drilling testing a higher tenor area of anomalism.

Drilling intersected spodumene bearing pegmatite with high-grades up to 2.28 per cent lithium dioxide (Li2O).

Better results include:
9m at 1.35 per cent Li2O from 30m, including 1m at 2.03 per cent Li2O from 32m and 1m at 2.21 per cent Li2O from 37m; and

9m at 1.62 per cent Li2O from 87m, including 1m at 2.28 per cent Li2O from 87m.

Just last week, TG Metals had to talk its way out of a speeding ticket from the ASX by providing an update on lithium exploration activities at the Lake Johnston project.

TG Metals informed the market of having conducted infill and extensional soil sampling (400m x 50m spacing) over the area immediately east of the company’s recent spodumene rich pegmatite discovery at Burmeister.

The company said the results from the sampling defined a new area of lithium in soils anomalism, which has been identified as the Jaegermeister prospect that is larger in scale than the Burmeister soil anomaly.

“Since the discovery of the spodumene pegmatites at Burmeister, the deposit models we have been considering have been based on the Earl Grey lithium mine area,” TG Metals CEO David Selfe explained.

“With this in mind, the lithologies at Jaegermeister, were always going to be a target.

“The current drilling at Burmeister, targeting up dip, down dip and along strike of the known high-grade lithium pegmatites, will provide knowledge we can apply to the Jaegermeister area and provides us with another quality drill target for early 2024.

“We are eagerly anticipating the next drilling results from Burmeister.”

The Wildcat and TG Metals discoveries are timely, especially given Australia already leads global lithium extraction, and national mine production is forecast to continue growing.

“Mine production of spodumene is forecast to rise to 3.3 million tonnes (Mt) in 2023–24 and 4Mt in 2024–25, up from to 3.1Mt in 2022–23,” DISR said.

“Rising mine production will be driven by the expansion of existing mines, including Greenbushes, Finniss, Wodgina, Pilgangoora, Mt Marion and Mt Cattlin.

“Greenfield production is also due to commence at Mt Holland and Kathleen Valley over the outlook period.”

Although lithium receives the lion’s share of battery element exposure there are other elements, of which Australia has plenty of that are set to benefit from an expected period of global battery market growth.

Battery technology has been almost deified by market scribes in recent years as everybody talks up the clean energy, electric vehicles, and consumer products revolution.

This battery demand growth is also generating opportunities for producers of not only lithium, but other contributors, including manganese, graphite, cobalt, and nickel.

These minerals are featured in the official US, EU and Canadian critical minerals lists, reflecting their importance in terms of future requirements.

So, how does gold compete?

As far as electronics go, gold is used for such items as light-emitting diodes (LEDs) and in printed circuit boards but is limited in its contribution to modern technology advancements.

Its main markets remain in China and India in the form of jewellery and retail investment in gold bars and coins.

The current great gold irony is that after a strong 2022 and with wars raging around the planet, consumption of the usual safe haven investment in 2023 is forecast to decrease by 9.5 per cent to about 4,300 tonnes.

The decline is expected to be mainly driven by lower official sector buying — which will nevertheless remain high in historical terms, at around 750 tonnes.

“World gold consumption is forecast to rise gradually after 2023, to reach about 4,400 tonnes by 2025,” DISR said.

“Demand growth is expected to be largely driven by increasing jewellery consumption, with investment demand and technological usage contributing to a lesser extent.”

 

Asra Minerals Raises $2.5M to Accelerate Exploration

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THE BOURSE WHISPERER: Asra Minerals (ASX: ASR) has secured $2.5 million in funding by way of a share placement to accelerate exploration activities across its portfolio of prospective Western Australia projects.

Asra Minerals the funding will be used to fast-track activities across its projects, including exploration, geochemistry, and further expansion of its highly prospective Lake Johnston and Lake Cowan lithium projects in the southern Yilgarn region.

Asra is currently evaluating potential additions to its Lake Johnston lithium portfolio and has teams in the field now looking at both existing and new opportunities.

The new cash will also be splashed on metallurgical testwork and orebody modelling at the company’s Yttria rare earth project as well as evaluation of scandium potential at Yttria.

Asra will also progress exploration work at its gold projects at the Mt Stirling project, as well as sites in Leonora and Kookynie.

“Asra is strategically establishing a significant exploration portfolio in Western Australia, while building a highly competent field and technical team to deliver value on these assets to shareholders,” Asra Minerals executive chairman Paul Summers said in the company’s ASX announcement.

“This has generated significant demand for this Placement from existing and new supportive shareholders, and I thank them for their ongoing support.

“I also welcome the new institutional and sophisticated investors to the company’s register.

“This Placement provides a strong balance sheet that allows the company to accelerate exploration activities and technical studies across our lithium, rare earth and gold projects in the highly prospective and richly endowed Goldfield’s region of Western Australia.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Green Technology Metals Increases Seymour Resource Confidence

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THE DRILL SERGEANT: Green Technology Metals (ASX: GT1) provide a Mineral Resource Estimate (MRE) update for the company’s Seymour lithium project in Ontario, Canada.

Green Technology Metals’ latest MRE efforts have resulted in a 13 per cent increase in the indicated category for the Seymour project’s mineral resource to 10.3 million tonnes at 1.03 per cent lithium oxide (Li20).

This new figure contributes to the combined global resource base across the company’s eastern and western hubs in Ontario of 24.9 million tonnes at 1.13 per cent Li2O.

Green Technology Metals explained the revised MRE encompasses two deposits situated within the Aubry complex at Seymour, North Aubry and South Aubry where it has undertaken drilling activities to constrain the updated mineral resource.

While the revised MRE largely aligns with the company’s December 2022 Interim MRE update, Green Technology Metals said other improvements have been made, including improved geological confidence achieved through additional peripheral holes and a comprehensive geological reinterpretation from Bayside Geoscience.

“We are pleased with the mineral resource and confidence increase to our flagship Seymour project a result of a refined geological interpretation,” Green Technology Metals CEO Luke Cox said in the company’s ASX announcement.

“We eagerly anticipate further enhancements to the resource as we continue our ongoing +7,000-meter drilling program and with the commencement of drilling at the newly acquired Junior lithium project in Q1 2024.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Future Battery Minerals Drills Shallow High-Grade Lithium Intercepts at Kangaroo Hills

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THE DRILL SERGEANT: Future Battery Minerals (ASX: FBM) reported on recent drilling activity at the company’s 100 per cent-owned Kangaroo Hills lithium project (KHLP) in Western Australia.

Future Battery Minerals’ Phase 3 RC and diamond drilling program at the KHLP predominantly focussed on grid drilling of the Rocky prospect and wide-spaced scout drilling of selected regional targets, including Big Red.

Drilling targeting east-west extensions of Big Red encountered:

KHRC145
8 metres at 0.91 per cent lithium oxide (Li2O) from 34m, including 5m at 1.21 per cent Li2O from 37m;

KHDD008
3m at 1.05 per cent Li2O from 34m; and

KHRC142
2m at 1.29 per cent Li2O from 6m.

Assay results returned from both RC and diamond at the Rocky prospect continued to confirm visual observations with numerous shallow high-grade intercepts, including:

KHDD009
4m at 1.34 per cent Li2O from 9m (Big Red) and 4m at 1.01 per cent Li2O from 146m (Rocky);

KHDD012
8m at 0.83 per cent Li2O from 127m, including 2m at 1.24 per cent Li2O from 127m;

KHRC093
6m at 0.76 per cent Li2O from 4m, including 1m at 1.29 per cent Li2O from 5m;

KHRC094
3m at 0.93 per cent Li2O from 7m, including 1m at 1.85 per cent Li2O from 8m, and 1m at 1.42 per cent Li2O from 14m.

“Kangaroo Hills offers so many project advancement and development advantages given its excellent location in the WA Goldfields, available road access, and proximity to substantial existing regional infrastructure,” Future Battery Minerals technical director Robin Cox said in the company’s ASX announcement.

“It is also surrounded by other substantial lithium deposits and mines that offer a ready perspective on what it might become as a future project development.

“The latest round of RC results from Rocky have returned numerous shallow, high-grade lithium intercepts that have significantly increased the overall size of this system.

“While not of the same thickness as the neighbouring Big Red mineralised pegmatite, the Rocky system still offers significant potential contribution to future project development scenarios at Kangaroo Hills.

“With the completion of the Phase 3 program at Kangaroo Hills, our focus now turns to the potential of the area moving north from the Big Red and Rocky pegmatites.

“Both these systems remain wide open to the north – and at depth – and several other regional target areas to the north demand prompt testing, including the highly prospective Western Grey zone.

“We expect to be drilling in these northern areas upon receipt of final permitting.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE