Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Metals Australia (MLS) has received further thick and high-grade intersections from the Manindi project in WA’s Murchison district
  • Best results came from MNRC076, drilled beneath the Foundation pegmatite’s main section, which returned 13 metres at 1.03 per cent lithium and 0.27 per cent rubidium from 62 metres
  • MLS says the results extended lithium mineralisation to over a 120-metre vertical depth and indicated greater thicknesses and multiple zones
  • Chairman Mike Scivolo says the latest drilling results are “very encouraging” and metallurgical testwork will be carried out as core samples are being assayed
  • Shares in Metals Australia are trading steady at 4.8 cents at 10:29 am AEST

Metals Australia (MLS) has released further thick and high-grade lithium-rubidium pegmatite intersections from the Manindi project in the Murchison district of Western Australia.

The company recently completed reverse circulation holes that tested the higher-grade main section of the 500-metre Foundation pegmatite.

The intersections indicated significant and consistent results of above one per cent lithium oxide and 0.3 per cent rubidium from all holes drilled beneath the higher-grade section of the Foundation pegmatite.

Best results include 13 metres at 1.03 per cent lithium oxide and 0.27 per cent rubidium from 62 metres downhole in MNRC076, including eight metres at 1.4 per cent lithium oxide and 0.31 per cent rubidium from 64 metres.

Further, diamond drill hole 22MNDD001 tested the Foundation pegmatite beneath MNRC076 and has intersected a 27-metre zone of pegmatite from 109 metres as well as a 10-metre footwall zone from 148 metres. The diamond core has been sent for assaying.

The company said the intersections at the Foundation pegmatite extended lithium mineralisation to over a 120-metre vertical depth and indicated greater thicknesses and multiple zones.

Chairman Mike Scivolo said the latest results are “very encouraging” and the Foundation Pegmatite looks to be increasing in thickness with depth.

“The Manindi Lithium Project continues to grow in scope and we now have the opportunity to carry out mineralogy and metallurgical testwork prior to further drilling and maiden mineral resource estimation.”

Core samples have been submitted to Intertek laboratories in Perth for assaying.

The company said it intends to carry out further metallurgical testwork on drill core to optimise lithium-rubidium recovery into concentrate prior to planning further drilling to expand.

Further, the testwork will define the potential for a significant lithium-rubidium JORC 2012 mineral resource at the Manindi project.

Shares in Metals Australia were trading steady at 4.8 cents at 10:29 am AEST.

MLS by the numbers
More From The Market Herald
The Market Herald Video

" Woomera Mining (ASX:WML) appoints Jason Livingstone as new Managing Director

Mineral explorer Woomera Mining (ASX:WML) has appointed Jason Livingstone as its new Managing Director, effective from…
The Market Herald Video

" Security Matters (ASX:SMX) enters into $2m standby equity facility

Security Matters (ASX:SMX) has entered into a standby equity deed with Evolution Capital.
The Market Herald Video

" Ora Gold (ASX:OAU) obtains unsecured $500k loan facility

Ora Gold (ASX:OAU) has obtained an unsecured $500,000 loan facility from Ioma to assist with general…
Baby Bunting (ASX:BBN) - Chair and Non Executive Director, Melanie Wilson

" Baby Bunting (ASX:BBN) surpasses $500m sales for the first time

Baby goods retailer Baby Bunting (ASX:BBN) surpasses half a billion dollars in sales for the first…