Deep drilling at Mt Marion intersects Broad Zone of Pegmatite

THE DRILL SERGEANT: Neometals (ASX: NMT), along with Mineral Resources (ASX: MIN) and Jiangxi Ganfeng Lithium Co., Ltd provided the market with an update on exploration results from the Mt Marion lithium project.

Recent deep Reverse Circulation (RC) drilling at the Mt Marion project has intercepted, deep, spodumene‐bearing pegmatite in consecutive drill holes along a south‐westerly trend.

Assays received to date include the following intercepts;

MMRC0342
92 metres at 1.54 per cent Li2O from 56m;

MMRC0361
139m at 1.69 per cent Li2O from 116m; and

MMRC0393
186m at 1.82 per cent Li2O from 95m.

“As reported in the March Quarterly 2016 planned infill and extension drilling program will prioritise the near surface mineralisation as depicted in the drill plan,” Mineral Resources said in its ASX announcement.

“The current deep RC drilling has defined deep mineralisation previously unknown.

“This mineralisation will also be followed up by a program of deep RC drill holes.

“The striking of this mineralisation trends towards the processing plant location.

“The current exploration program is now completed and Mineral Resource and Mining Reserve estimates will be prepared with anticipated release of results to the market by around 30 June 2016.”

According to the mineral Resources’ release, the Joint Venture partners have committed to a new extension drilling exploration program, which will commence immediately.

The drilling is anticipated to be completed in around four months.

The Mt Marion lithium deposit contains total Indicated and Inferred Mineral Resources of 23.24 million tonnes at 1.39 per cent lithium oxide (Li2O) and 1.43 per cent iron oxide (Fe2O3), at a cut‐off grade of 0 per cent Li2O.

Website: www.mineralresources.com.au