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Essential Metals (ASX:ESS) - Managing Director, Tim Spencer
Managing Director, Tim Spencer
Source: Essential Metals
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  • Essential Metals (ESS) says it has received ‘excellent’ lithium assays and widths from the Cade deposit at the Pioneer Dome lithium project in WA
  • Four holes have been completed in the upper zone of the Cade deposit, which the company hopes will give it a better understanding of the profile and levels of lithium
  • The company says the holes confirmed high grade tenor and broad widths from surface, demonstrating it’s likely there has been minimal depletion of lithium near surface
  • Steps are now underway to ensure the resource area is ready for development, with applications for a mining lease and environmental studies in the works
  • Essential Metals is up 37.1 per cent to trade at 21.3 cents

Essential Metals (ESS) has received ‘excellent’ lithium assays and widths from the Cade deposit at the Pioneer Dome lithium project in Western Australia.

Four reverse circulation holes were completed in the upper zone of the Cade deposit, which the company hoped would assist it to better understand the weathered profile and evidence of lithium depletion.

The company said the holes confirmed high grade tenor and broad widths from surface, demonstrating its likely there has been minimal depletion of lithium near surface.

Assay results included 21 metres at 1.08 per cent lithium oxide from surface, 24 metres at 1.29 per cent lithium oxide from surface and 26 metres at 1.46 per cent lithium dioxide from 51 metres.

“These assay results once again reinforce that the Dome North area hosts a high quality Resource with the potential to be mined with minimal overburden,” Managing Director Tim Spencer said.

“We now need to undertake further drilling and metallurgical test work to advance the project towards development in parallel with more exploration.”

The company said these assays were pushed to the front of the laboratory’s queue, given their importance in planning the next work programs.

ESS now has a diamond drill program in the works to improve the confidence in the Dome North Resource. This is scheduled to begin in November.

Meanwhile, steps are being taken to ensure the resource area is ready for development, with applications for a mining lease underway, and environmental and hydrology studies being conducted.

Essential Metals’ shares were up 37.1 per cent to trade at 21.3 cents at 10:48 am AEDT.

ESS by the numbers
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