Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Arizona Lithium (AZL) identifies multiple drill targets at its Lordsburg lithium brine project in New Mexico, US
  • The targets were identified via a recently completed passive seismic survey and electromagnetics work undertaken to test for lithium-mineralised brines
  • This work successfully identified a north-trending basin that contains targets believed to represent potential lithium-mineralised brines
  • Based on these findings, AZL’s geophysical consultants have planned three drill holes to test the geophysical and local deep anomalies
  • Arizona Lithium shares are up 3.57 per cent to 8.7 cents at 11:51 am AEST

Arizona Lithium (AZL) has identified multiple drill targets at its Lordsburg lithium brine project in New Mexico, US.

The targets were identified via AZL’s recently-completed passive seismic survey and magnetotelluric electromagnetics undertaken with WA-based geophysical consultant Resource Potentials.

This work tested for potential lithium mineralised subsurface brines.

Notably, this work successfully identified a north-trending basin that contained targets believed to represent potential lithium-mineralised brines.

“The encouraging results from the recently completed geophysical surveys at the Lordsburg lithium brine project in New Mexico, identifying three priority drill hole locations, have provided the company with an outstanding opportunity to progress another project concurrently with the sustainable development of the Big Sandy lithium project in Arizona,” AZL Managing Director Paul Lloyd said.

“The close proximity to renewable energy sources, direct access to the interstate highway system and sampled lithium mineralisation at surface have identified this project to have the potential as a timely contributor to growing lithium supply requirements in the USA.”

Based on the results from the survey and electromagnetics, Resource Potentials has planned to drill three holes to test the geophysical and local deep anomalies.

AZL said it would make an application with the Las Cruces Bureau of Land Management for approval.

Arizona Lithium shares were up 3.57 per cent to 8.7 cents at 11:51 am AEST.

AZL by the numbers
More From The Market Herald
The Market Herald Video

" Caprice Resources (ASX:CRS) intersects shallow gold at Island Gold Project

Caprice Resources (ASX:CRS) intersects shallow gold mineralisation at its first reverse circulation drilling program at the…

" Orion Minerals (ASX:ORN) raises $1.35m in SPP

Orion Minerals (ASX:ORN) has raised $1.35 million in its share purchase plan (SPP) to advance its…

" Future Metals (ASX:FME) to raise $5.5m for Panton

Future Metals (ASX:FME) has received firm commitments for a heavily oversubscribed $5 million placement.

" Firebird Metals (ASX:FRB) raises $3.5m to accelerate Oakover development

Firebird Metals (ASX:FRB) has received firm commitments to raise $3.5 million via a placement from sophisticated…