Kali Metals Reports Positive Results from Maiden Spargoville Drill Program

THE DRILL SERGEANT: Kali Metals (ASX: KM1) reported returned positive results from its first Reverse Circulation (RC) drilling campaign at the company’s Spargoville project in Western Australia.

Kali Metals explained the Phase 1 drill program was designed as an initial reconnaissance program to test multiple outcropping pegmatites.

The company revealed the drill program has been fundamental to expanding its knowledge of the geological setting at the Flynn-Giles and Green Flame prospects, and the Spargoville project more broadly.

The drilling confirmed the presence of Spodumene in several shallow dipping pegmatite dykes and resulted in numerous lithium-caesium-tantalum (LCT) hits at Flynn-Giles.

Results from the drilling include:

9 metres at 1.11 per cent lithium oxide (Li2O), including 5m at 1.73 per cent Li2O; and

10m at 0.85 per cent Li2O, including 4m at 1.96 per cent Li2O:

“We are pleased to announce the results from our maiden drilling program which has importantly confirmed the presence of Spodumene-bearing, LCT pegmatites at the Flynn-Giles and Green Flame prospects,” Kali Metals managing director Paul Adams said in the company’s ASX announcement.

“In the near term, using knowledge gained from the drilling to date, preparation is underway to commence our Phase 2 program at the Walton, Parker-Grubb and Flynn-Giles East prospects in the coming weeks.

“We look forward to sharing further results with shareholders as they are received.”




Hot Lithium Stock Kali Metals Debuts at RIU Explorers Conference

THE CONFERENCE CALLER: ASX newcomer Kali Metals (ASX: KM1) announced its highest-grade lithium results yet ahead of its first presentation as a listed company. By Kristie Batten

Kali Metals listed on the ASX on January 5 after a heavily oversubscribed initial public offering that closed within hours, raising $15 million.

“And we could have raised that several times over,” managing director Graeme Sloan told the RIU Explorers Conference in Fremantle.

A spin-off of Kalamazoo Resources and Toronto-listed Karora Resources, Kali attracted attention when ASX 100 lithium and iron ore producer Mineral Resources invested in the IPO.

MinRes held just under 10% of Kali when it listed and has increased its stake to 14% since via on-market purchases.

Kali owns ground in the Higginsville lithium district, just south of MinRes and Ganfeng Lithium’s operating Mt Marion mine and to the northwest of MinRes’ newly acquired Bald Hill mine.

The company had reported rock chip samples grading up to 3.69% lithium oxide at its Spargoville project but bettered that today with a rock chip grading 5.05% from the Flynn-Giles prospect.

“They’re some big numbers,” Sloan said.

Flynn-Giles sits within a 2km-long soil anomaly.

Other new results reported today included 2.64% lithium oxide at Flynn-Giles and 2.57% at the Parker-Grubb anomaly to the west.

“This area is certainly looking very good for us,” Sloan said.

At the Widgiemooltha project, the company also reported rock chip results of more than 2% lithium oxide at two separate prospects.

Soil sampling will continue across eight prospects at Higginsville with reverse circulation drilling to begin at Spargoville later in the current half.

Kali also has ground in the Pilbara, a region Sloan describes as “the land of the giants”.

Its DOM’s Hill and Marble Bar projects are adjacent to Pilbara Minerals’ Pilgangoora and MinRes and Albemarle’s Wodgina mines.

Those projects are subject to a joint venture with Chilean lithium giant SQM, which can earn 70% by spending $12 million over four years.

On the east coast, Kali has tenements in the Lachlan Fold Belt.

All up, the company holds 3854 square kilometres of ground, in what Sloan describes as one of the best hard rock lithium exploration packages in Australia.

“If you want to take something away, it’s that massive land package.”