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- Askari Metals (AS2) improves the chance of discovering economic grade lithium at its Barrow Creek project in the Northern Territory following the latest assay results
- The company completed an initial reconnaissance rock sampling program as part of its due diligence phase to acquire the project from Consolidate Lithium Trading
- The samples returned up to 817 parts per million lithium oxide and also identified a mineralised zone of 950 metres by 500 metres
- According to Askari, the results demonstrate the fertility of the lithium caesium tantalum pegmatites and follow up sampling and mapping is scheduled for next week
- Shares were trading 8.3 percent lower at 38.5 cents at 12:00 pm AEDT
Askari Metals (AS2) chance of discovering economic grade lithium at its Barrow Creek project in the Northern Territory has improved, following the latest assay results.
The company completed an initial reconnaissance rock sampling program across the northwest portion of the project which is located in the Arunta Pegmatite Province.
The program formed part of Askari’s due diligence phase to acquire the project from Consolidate Lithium Trading.
The samples returned up to 817 parts per million lithium oxide, which the company said demonstrates the fertility of the lithium caesium tantalum (LCT) pegmatites and warrants further exploration of the area.
It also identified a mineralised zone of 950 metres by 500 metres which reportedly remains open in all directions and contained multiple LCT-type pegmatites.
Askari compared the latest results to a recently completed hyperspectral survey which it said indicated a high correlation between the outcrops with anomalous lithium values and those highlighted by the survey.
This comparison is said to demonstrate a higher degree of confidence that the additional targets identified from the survey are high-priority targets.
The additional targets are located outside of the zone that was sampled during the reconnaissance program and remain untested.
While exploration is ongoing to identify more extensive lithium-rich end members, AS2 has also planned to undertake follow up detailed surface sampling and mapping next week.
Once the results are available, a reverse circulation drilling program is anticipated to test identified fractioned pegmatites.
Over at its Burracoppin Gold project, Askari has begun phase two drilling and also plans to accelerate field exploration at its Yarrie Lithium project in the eastern Pilbarra.
Company shares were trading 10.7 per cent lower at 37.5 cents at 12:00 pm AEDT.
