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Pilbara Minerals (ASX:PLS) - Managing Director & CEO, Ken Brinsden - The Market Herald
Managing Director & CEO, Ken Brinsden
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  • Pilbara Minerals (PLS) says the latest results from drilling at its Pilgangoora Project continue to show the "world-class endowment" of the deposit
  • Just over 7000 metres have been drilled, targeting a largely under-explored region next to the boundary of the Altura Lithium Operations
  • Of the first nine holes, assay results have been reported up to 15 metres at 2.35 per cent lithium oxide and 100 parts per million of tantalum pentoxide
  • The results from the program will be incorporated into an updated mineral resource for the Pilgangoora Project
  • Shares in Pilbara Minerals were up 10.59 per cent at the close of trading today to $1.30 each

Pilbara Minerals (PLS) says the latest results from drilling at its Pilgangoora Project continue to show the "world-class endowment" of the deposit.

Located in the Pilbara, roughly 120 kilometres from Port Hedland, the Pilgangoora ore body is considered one of the largest hard rock lithium deposits in the world.

Just over 7000 metres of a 9500-metre program have been drilled, targeting a largely under-explored region next to the boundary of the Altura Lithium Operations — which Pilbara Minerals acquired in January — with the aim of optimising the future pit inventories in the area.

Several new zones of high-grade pegmatite mineralisation have been defined outside of the current mineral resource, but adjacent to the company's proposed South Pit development.

Of the first nine holes, assay results have been reported up to 15 metres at 2.35 per cent lithium oxide and 100 parts per million of tantalum pentoxide.

"The area adjacent to the old Altura tenement boundary has always offered significant exploration potential and was considered one of the benefits for Pilbara Minerals undertaking the Altura asset acquisition," said Managing Director and CEO Ken Brinsden.

"These results from the current program confirm the potential endowment of this area and we intend to work hard on this area in the coming months to add further value to the integrated operations."

The results from the program will be incorporated with an updated mineral resource for the Pilgangoora Project — including the former Altura Lithium Operations resource — which is scheduled for release in the September quarter of this year.

Shares in Pilbara Minerals were up 10.59 per cent at the close of trading today to $1.30 each.

PLS by the numbers
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