Posts

Marindi Metals Claims LCT Outcrop Discovery at Forrestania

/in , /by

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.”

 

Email: info@marindi.com.au

Website: www.marindi.com.au

 

Marindi Metals Resumes 100 Per Cent Control of Yalco Project

/in , /by

THE BOURSE WHISPERER: Marindi Metals (ASX: MZN) has resumed sole control of the Yalco exploration project in the Northern Territory.

Marindi Metals said the resumption of control over the project followed it receiving notification from Teck Australia Pty Ltd of its intention of withdrawing from the Yalco Joint Venture.

Teck has spent over $3 million on the Yalco project since the JV was established in 2013, and Marindi now intends to conduct an independent review of all work completed by Teck to determine the optimum path forward.

“Marindi’s primary focus in the Northern Territory is on its highly prospective Caranbirini zinc project, adjacent to the world-class McArthur River zinc mine,” Marindi Metals said in its ASX announcement.

“As announced on 27 March 2018, major Japanese resources group, Japan Oil, Gas and Metals National Corporation (JOGMEC) has entered a farm-in agreement enabling it to earn up to a 70 per cent interest in the Caranbirini project by sole funding up to $4 million in exploration over three years.”

 

Email: info@marindi.com.au

Website: www.marindi.com.au

 

Marindi Metals Claims Pegmatite Discoveries at Forrestania

/in , /by

THE DRILL SERGEANT: Marindi Metals (ASX: MZN) provided an update on exploration activities at the company’s Forrestania lithium project.

Marindi Metals has completed ground work to follow up soil sampling, which identified two highly prospective pegmatites showing similarities to the Earl Grey pegmatite, located 60 kilometres and 80 kilometres north of the respective prospective areas.

Infill soil sampling results led to a field inspection of anomalous areas undertaken at the Cosmic Boy East and Diggers Rocks East target areas.

At Cosmic Boy East, an area of highly anomalous tantalum in soil with peak values to 6.5ppm tantalum pentoxide (Ta2O5) was inspected.

Within the soil anomaly a poorly exposed pegmatite was identified and sampled, which returned assays that indicated it to be a highly specialised LCT pegmatite assaying 157.5ppm Ta2O5 with both potassium/rubidium (K/Rb) and potassium/caesium (K/Cs) ratios.

Marindi claimed this to be broadly comparable with data published on the nearby Earl Grey pegmatite.

At Digger Rocks East, Marindi inspected an area of highly anomalous caesium where peak values to 11.5ppm caesium in soils had been returned.

This identified a further poorly exposed pegmatite to be sampled, returning assays indicated it to be another highly specialised LCT pegmatite assaying 36.8ppm Ta2O5 and 12.8ppm Ta2O5 in separate samples.

Once again, Marindi claimed both the potassium/rubidium and potassium/caesium ratios to be consistent with data published on the nearby Earl Grey pegmatite.

“Drilling will be required to determine the size and mineralogy of these pegmatites,” Marindi Metals said in its ASX announcement.

“The fact that soil sampling has led to the identification of outcropping specialised pegmatite is considered encouraging and a validation of the exploration technique as a first pass filter to discriminate prospective from less prospective ground in areas of residual soil or shallow cover.

“Infill soil sampling is ongoing and follow up inspections will continue as more anomalous areas are identified and Marindi expects to have results from the infill samples next week.

“Marindi has already begun plans for an initial drill program and will finalise its drilling program once these assays are received.”

 

Email: info@marindi.com.au

Website: www.marindi.com.au