Excellent Lithium Assays and Widths Returned From Cade Deposit

Four holes into the Cade upper zone confirm high grade tenor and broad widths from surface.



HIGHLIGHTS


  • Four Reverse Circulation (RC) drill holes were completed into the upper zone of the Cade Deposit to better understand the weathering profile and evidence of lithium depletion. Pleasingly the assays are of a high lithium tenor, demonstrating that there has likely been minimal depletion of lithium near surface.

  • Cade Deposit (4 RC holes) assay results include: - 21m @ 1.08% Li2O from surface (PDRC589) - 24m @ 1.29% Li2O from surface (PDRC590 - 15m @ 1.06% Li2O from 47m (PDRC591) - 26m @ 1.46% Li2O from 51m (PDRC592)

  • These assays were prioritised by the laboratory, given their importance in planning the next work programmes. An ASX announcement incorporating all assays from the August drill programme is expected to be released towards the end of October.

  • A diamond drill programme is currently being planned to commence in November to improve the confidence in the Dome North Resource and provide metallurgical test work samples for both the Davy and Cade Deposits.

  • Steps are underway to ensure that the Dome North Resource area is ‘development ready’. This includes applying for a mining lease and conducting various environmental and hydrology studies as well as obtaining up to date capital and operating cost parameters.