Total
0
Shares
Image Sourced Shutterstock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • WA’s Port Hedland is recognised as a valuable hotspot for lithium projects and infrastructure – today, Lithium Power International is the latest company to break news from the area
  • This week, the company commenced 4000 metres of reverse circulation drilling at the Tabba Tabba project
  • Tabba Tabba spans over 56 square kilometres, putting in a valuable positions of sitting on known and tested gold and base metals along with sitting on untested lithium
  • Lithium is expecting detailed results from the drilling campaign within this quarter of the year

Explorer Lithium Power International (LPI) has officially commenced drilling nearby WA’s Port Hedland at its fully owned Tabba Tabba project.

The 56 square kilometre project is associated with strong mineralisation of lithium, gold and several base metals.

“The commencement of the Tabba Tabba drilling program is aligned with LPI’s stated objective of being a diversified lithium developer,” company CEO Cristobal Garcia-Huidobro said.

This week, Lithium Power has drilled up to 4000 metres through methods of reverse circulation. The drilling is part of a campaign to test mineralised pegmatites, previously located during a geochemical survey.

Some cases of elevated soil at Tabba Tabba extend for lengths of 4.3 kilometres, showing large opportunity of mineralisation for the company.

Drilling during the campaign may extend into the company’s other fully-owned project, ‘Strelley’ – an adjoining area to the Tabba Tabba zone.

The explorer is expecting detailed results from the drilling campaign within this quarter of the year.

Infrastructure at Tabba Tabba is well developed with the project sitting nearby the Great Eastern Highway.

“Our Tabba Tabba project is located in a known lithium belt in the Pilbara, with two recent lithium discoveries,” Cristobal added.

“The project has excellent logistics and proximity to Port Hedland, and we look forward to providing drilling results once they become available,”

Tabba Tabba is approximately 70 kilometres south east of Port Hedland, which is recognised as a hotspot for shipping spodumene concentrate.

The project also sits along three greenstone belts due to its large size of strike length. Because of this positioning, it not only sits on previously explored zones for gold and base metals, it sits on a valuable area previously unexplored for lithium.

Share prices in LPI are only slightly different from yesterday’s closing price, trading for 34 cents – a 3.03 per cent premium.

Today, the company’s market cap is valued at $86.62 million.

LPI by the numbers
More From The Market Herald

" AKORA Resources (ASX:AKO) gets pleasing assays from Madagascar project

AKORA Resources (AKO) has received assays from resource drilling at the Bekisopa project in Madagascar.
Carawine Resources (ASX:CWX) - Non Executive Chairman, Will Burbury

" Carawine Resources (ASX:CWX) begins diamond drilling at Red Bull

Carawine Resources (CWX) has begun diamond drilling on two highly significant bedrock conductors at the Red Bull tenement in Western Australia.

" Woomera Mining (ASX:WML) begins Phase 2 drilling at Mt Venn

Precious and base metals explorer Woomera Mining (WML) has launched a Phase 2 reverse circulation drilling program at its Mt Venn Project in
Challenger Exploration (ASX:CEL) - Exploration Manager, Stuart Munroe

" Challenger Exploration (ASX:CEL) extends mineralisation at Sentazon

Challenger Exploration (CEL) has released results from the next eight holes of its drilling program at the Sentazon prospect within the Hualilan gold