Castle Minerals (ASX:CDT)- Managing Director, Stephen Stone
Managing Director, Stephen Stone
Source: Business News
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  • Castle Minerals (CDT) says analysis of historical auger sampling data has highlighted several discrete lithium anomalies at its Woodcutters lithium project in WA
  • The multi-element signatures of the anomalies are consistent with possible hard rock lithium mineralisation associated with lithium-caesium-tantalum pegmatites
  • Castle finds it encouraging the project lies along a trend from a pegmatite field hosting the Bald Hill deposit and is also close to Liontown Resources’ Buldania deposit
  • Once the licences are granted, Castle hopes to undertake its own lithium-focused sampling program to better understand the anomalies
  • Castle last traded 16 per cent in the red at 4.2 cents

Castle Minerals (CDT) has identified several discrete lithium anomalies at its Woodcutters lithium project in the Norseman region of Western Australia.

The anomalies were discovered through an in-depth analysis of data from historical auger sampling and the company says the anomalies are supported by coincident elevated levels of indicator elements such as rubidium, beryllium, caesium and tin.

According to Castle, the multi-element signatures of the auger anomalies are consistent with possible hard rock lithium mineralisation associated with lithium-caesium-tantalum pegmatites. The company also finds it encouraging that they’re in close proximity to a number of mapped granite intrusions.

Managing Director Stephen Stone said the new findings were “all positives for the project and provide a solid platform for the next phase of exploration in a region where there are already well-established lithium deposits such as Bald Hill and Buldania.

Strategically, the Woodcutters Project lies along a distinctive structural trend from the pegmatite field that hosts the Bald Hill lithium-tantalum deposit to the north-west.

The project is also parallel to the trend that hosts Liontown Resources’ (LTR) Buldania lithium deposit and Mineral Resources’ (MIN) Mt Marion operating mine in what is broadly called the “Western Australia Lithium Corridor”.

Castle Minerals said while it’s pleased with the discovery, it’s still too early to confirm the origin of the lithium and it will need to undertake a lithium-focused sampling program once the project is granted.

In early November, the company applied for two licences which make up the Woodcutters project and, once granted, it hopes to advance exploration work to increase its exposure to the growing battery metals sector.

The company proposes to complete mapping and rock chip sampling of any outcropping pegmatites, initially focusing on the highest priority areas generated by the recent multi-element geochemical review.

It will also look to validate previous soil sampling with infill sampling and, if needed, undertake aircore drilling to test for pegmatite occurrences below the cover.

If the sampling results indicate the presence of lithium in the form of spodumene, the company hopes to conduct a reverse circulation drilling program to determine the full extent of mineralisation.

Castle shares were 16 per cent in the red at 4.2 cents in early trade.

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