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Be the first with the news that moves the market- Metals Australia (MLS) unveils a string of “outstanding” new high-grade lithium results from drilling at its Manindi project in the Murchison district of WA
- The company says all holes drilled beneath a higher-grade section of the Foundation pegmatite in the area returned thick and high-grade lithium-rubidium mineralisation
- Meanwhile, drilling at the Mulgara zone intersected high-grade lithium-bearing pegmatites at depth and extended the mineralisation to over 100 metres below the surface
- Metals Australia is now finalising a diamond drilling program across the Foundation and Mulgara pegmatites to inform a maiden lithium mineral resource estimate at the project
- Shares in Metals Australia last traded at 9.2 cents each on Wednesday, May 25
Junior explorer Metals Australia (MLS) has unveiled a string of “outstanding” new high-grade lithium results from drilling at its Manindi project in the Murchison district of WA.
The results come from the latest 26 holes of a 3500-metre drilling program designed to test some lithium-bearing pegmatites across the project.
As part of this program, several reverse circulation (RC) holes tested the higher-grade main section of the Foundation pegmatite in the area.
Metals Australia said all holes drilled beneath the higher-grade section of the Foundation pegmatite struck thick and high-grade lithium-rubidium mineralisation consistently above one per cent lithium oxide and 0.3 per cent lithium.
One of the best results from the Foundation drilling includes an 11-metre hit at 1.23 per cent lithium oxide and 0.31 per rubidium from 16 metres downhole. This hit included a five-metre zone at 1.47 per cent lithium oxide and 0.3 per cent rubidium and a two-metre zone at 1.73 per cent lithium oxide and 0.64 per cent rubidium.
Meanwhile, at the Mulgara pegmatite, 500 metres southeast of Foundation, Metals Australia intersected thick and high-grade lithium-bearing pegmatite at depth. This extended the mineralisation at Mulgara to over 100 metres below the surface.
The best Mulgara results include an 11-metre hit at 1.23 per cent lithium oxide and 0.32 per cent rubidium from 118 metres, with a three-metre section grading 2.26 per cent lithium oxide and 0.31 per cent rubidium.
Metals Australia Chairman Mike Scivolo said these latest results confirmed the continuity of the thick and high-grade lithium intersections at Manindi both along strike and at depth.
“On top of the lithium resource potential, Manindi also hosts a high-grade and recently-extended zinc resource and a new copper-nickel-cobalt-bearing sulphide discovery on a parallel trend to the west,” Mr Scivolo said.
“This project has a unique mix of commodities and we are well-funded to advance our aggressive drilling and exploration programs to unlock Manindi’s true mineral potential.”
Looking ahead, Metals Australia said it was now finalising a new diamond drilling program across both the Foundation and Mulgara pegmatites to inform a maiden lithium mineral resource estimate and development studies at Manindi.
Shares in Metals Australia last traded at 9.2 cents each on Wednesday, May 25.
