Australasian Gold (ASX:A8G) - Managing Director, Qingtao Zeng
Managing Director, Qingtao Zeng
Source: Australasian Gold
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Australasian Metals (A8G) and CSIRO have announced the detection of high priority pegmatite and lithium at its wholly-owned Mt Peak project in the Northern Territory
  • CSIRO and A8G plan on investigating if the uranium-thorium ratio can be an indicator for granite fractionation
  • According to the company, “fractionated granites have a greater chance to host lithium mineralisation”
  • The application notice period terminates in March next year, with A8G estimating the licence for further exploration will be granted before the end of March
  • A8G ended the day having risen 3.45 per cent to 45 cents a share

Australasian Metals (A8G) and CSIRO have announced the detection of high priority pegmatite and lithium at its wholly-owned Mt Peak project in the Northern Territory.

CSIRO and A8G plan on investigating if the uranium-thorium ratio can be an indicator for granite fractionation.

The pair plans to determine if higher levels of uranium and thorium which gives the rock a deeper red colour could indicate granite or pegmatite exposure in the out and sub-crops.

According to the company, “fractionated granites have a greater chance to host lithium mineralisation”.

As a result of this update, A8G intends on a further sampling of those zone with a potential extension of the tenement licence.

The application notice period terminates in March next year, with A8G estimating the licence for further exploration will be granted before the end of March.

“Our team has discovered one high-grade sample in the surface, which is just a start, and we are working closely with CSIRO to trace the fertile pegmatite aiming at defining a footprint of potential lithium mineralisation,” Managing Director Dr Qingtao Zeng said.

“The permit application is in good shape, and the timing is perfect that we can take full advantage of the period to fine-tune the drilling target in early next year.”

A significant regional NW-SE trending structural framework is highlighted by this work.

This trend, according to the company’s geologists, is a primary governing element in the emplacement of the intrusive masses and related later stage pegmatite dykes. The company’s geological mapping has also shown a regional NW-SE structural trend that has impacted both the schists and the intrusives.

A8G ended the day having risen 3.45 per cent to 45 cents a share.

A8G by the numbers
More From The Market Herald
Resource Base (ASX:RBX) - Executive Chairman & CEO, Shannon Green

" Resource Base (ASX:RBX) makes significant REE discovery at Mitre Hill

Resource Base (ASX:RBX) has made a significant rare earth element (REE) discovery at its Mitre Hill…
Mineral Commodities (ASX:MRC) - CEO and Managing Director of Mineral Commodities, Jacob Deysel

" Mineral Commodities (ASX:MRC) enters collaboration with Mitsubishi Chemical Corporation

Mineral Commodities (ASX:MRC) joins forces with Mitsubishi Chemical Corporation to collaborate on graphitic anode materials supply…

" Riversgold (ASX:RGL) shares rocket following key WA lithium tenement grant

Riversgold's (ASX:RGL) shares this morning spiked over 41.5 per cent after the company announced it had…
Global Oil and Gas (ASX:GLV) - Chairman, Chris Zielinski

" Global Oil and Gas (ASX:GLV) and Prominence Energy (ASX:PRM) prepare for Sasanof-1 drilling

Western Gas has given its joint venture partners Global Oil and Gas (ASX:GLV) and Prominence Energy…