Lithium Australia Completes Stage 1 Drilling at Horseshoe

THE DRILL SERGEANT: Lithium Australia (ASX: LIT) has completed stage 1 drilling, to test the Horseshoe pegmatite within the company’s 100 per cent-owned Ravensthorpe project in Western Australia.

Lithium Australia has drilled twenty-six reverse circulation drill holes ranging, samples from which have been sent for testing, with results currently expected early August 2017.

The company explained the drilling program was designed to define the structural and geological setting of the Horseshoe pegmatite and to test for economic lithium mineralisation.

Lithium Australia declared the drilling to have demonstrated the Horseshoe pegmatite is a relatively flat, sheet-like body with a true thickness ranging from 15 metres to 25m.

The company informed that it has had to postpone the commencement of stage 2 drilling to test the Deep Purple pegmatite due to adverse weather conditions restricting access to the site.

The wet conditions have resulted in an unstable platform for drilling and therefore stage 2 is expected to commence later in the year.

“The large footprint, substantial thickness and shallow dip of the Horseshoe pegmatite, provides an excellent target,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.

“The identification of lithium minerals within the pegmatite clearly demonstrates the very strong similarity to the pegmatite being mined nearby at Mt Cattlin, by Galaxy Resources.

“The Ravensthorpe area is showing a lot of promise and we look forward to improved weather conditions later in the year to enable the resumption of drilling which will focus on Deep Purple.”

Email: info@lithium-au.com

Website: www.lithium-au.com