THE DRILL SERGEANT: Marindi Metals (ASX: MZN) claimed an exploration breakthrough at the company’s 100 per cent-owned Forrestania project in Western Australia.
Marindi Metals announced the discovery of multiple outcropping specialised pegmatites, which the company declared to represent priority drill targets.
The company believes the outcropping (in-situ) lithium-caesium-tantalum LCT-type pegmatites could be the likely source of both the Tillerson and Scaramucci anomalies.
These were identified by the company’s newly-appointed managing director and CEO Simon Lawson, during an orientation site visit to the Forrestania project.
Lawson asserted the discovery of the potential source of the previously identified Tillerson and Scaramucci anomalies to be a pivotal breakthrough for the company, providing a series of drill-ready targets and reducing the need for further reconnaissance exploration work.
“This is an important step forward in our aggressive lithium exploration strategy at Forrestania,” Lawson said in the company’s announcement to the Australian Securities Exchange.
“These newly-defined outcrops are fixed-position, drill-ready specialised pegmatite targets that can be rapidly evaluated using definitive RC and diamond core sampling.
“On the basis of these finds, we will now pivot the majority of the planned reconnaissance-style aircore expenditure, as well as the costs for the associated drill-line establishment earthworks, and instead use those funds to undertake drilling to rapidly define the potential value of these pegmatites for shareholders.
“We have effectively eliminated the need for additional reconnaissance work by refining the geochemical soil sampling anomalies using simple boots-on-ground geological investigation – a great outcome for the company.
“We can now move immediately to begin planning an RC and diamond drill program, which we are aiming to kick off later this quarter.
“The potential of this belt for world-class lithium discoveries is amply demonstrated by the Earl Grey and Bounty lithium deposits, located around 50 kilometres along strike to the north.”