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- Australasian Metals (A8G) identifies further lithium mineralisation at the Mt Peake Lithium Project in the Northern Arunta pegmatite province, Northern Territory
- The company confirmed mineralisation at the surface, with samples returning 1.15 per cent lithium oxide and 226 parts per million (ppm) tantalum
- Managing Director Dr Qingtao Zeng said the sampling and mapping work is continuing to generate encouraging results
- Work has now begun on a Mine Management Plan submission to obtain authorisation for activities that could lead to “significant disturbances”, including drilling
- Shares in Australasian Metals were up 7.14 per cent to $0.52 as of 12:05 pm AEST
Australasian Metals (A8G) has identified further lithium mineralisation at the Mt Peake Lithium Project in the Northern Arunta pegmatite province, Northern Territory.
The company confirmed mineralisation at the surface, with samples returning 1.15 per cent lithium oxide and 226 parts per million (ppm) tantalum. This sample was taken roughly 800 metres southeast of an earlier work area, which yielded 1.61 per cent lithium oxide and 223 ppm tantalum.
However, the precise relationship between these two samples is still unknown due to the limited outcrop, but will be a focus of evaluations in the near future.
Managing Director Dr Qingtao Zeng said the sampling and mapping work is continuing to generate encouraging results.
“Our geologists have identified lithium mineralisation on every sampling survey to date and the latest >1.0% Li2O rock chip sample gives us increasing confidence on the lithium enrichment within our tenements,” he said.
“The high lithium content indicates that the pegmatites in our area have fractionated enough to concentrate up lithium and related elements and there could be several parallel lithium-bearing pegmatite dykes in shallow depth waiting for us to drill.”
Looking ahed, Australasian Metals will continue to infill the area of anomalism and extend soil geochemistry work to the south-east to cover the most recent sampling area, while rock chip sampling will progress where there is outcrop exposure.
This will be combined with a previously conducted Deep Ground Penetrating Radar survey to develop a more complete understanding of thegeology and mineralisation.
In addition, work has begun on a Mine Management Plan submission to obtain authorisation for activities that could lead to “significant disturbances”, including drilling.
Shares in Australasian Metals were up 7.14 per cent to $0.52 as of 12:05 pm AEST.
