Abundant fresh spodumene intersected from near surface of Cade deposit

Abundant fresh spodumene intersected from near surface in diamond drilling targeting upper zones of Cade deposit


Visual observation of drill core supports the potential for mining at Dome North to commence at surface with the likely upgrading of shallow Resources from Inferred to Indicated.


HIGHLIGHTS


  • Successful diamond drill programme completed, comprising of six holes drilled into the upper ~40m of the Cade Deposit and seven holes drilled into the Davy Deposit for a total of 909 metres.

  • At Cade abundant fresh spodumene was observed in drill core intersections within the Mineral Resource boundaries. Some weathering is evident within the contact zones between the pegmatite and wall rock as well as where fissures/fractures have facilitated water ingress into the pegmatite.

  • At Davy fresh spodumene was observed in three of the drill holes with variable weathering in the other four holes. Minor lepidolite was seen in some holes.

  • Assays and XRD analysis are awaited to confirm lithium grades and mineralogy. The drill core is being prepared for dispatch and the laboratory has advised a 12-week turnaround time.

  • The recently completed air-core programme testing multiple and, in some cases coincident, lithium, gold and nickel targets, did not locate any spodumene-bearing pegmatites, but several pegmatites were intersected in the southern and central areas of the Project.


We are confident that the recently completed diamond drilling will, subject to satisfactory assay and metallurgical test work results, demonstrate that both the Cade and Davy deposits can be mined to produce recoverable spodumene from surface. We also expect to upgrade the drilled zones from Inferred to Indicated status within the Mineral Resource, supporting our development pathway

Managing Director

Tim Spencer