- Red Dirt Metals (RDT) gets “excellent” results from drilling at its Mt Ida project in WA
- The results come from two pegmatites with Sister Sam returning a peak grade of 1.9 per cent lithium oxide and Timoni returning 2.4 per cent lithium oxide over 3.5 metres
- The Timoni pegmatite remains open at depth and is believed to be thickening with depth as drilling continues
- Red Dirt Metals says drilling is ongoing and will support metallurgical programs and a mineral resource update for Mt Ida
- Company shares are down 5.93 per cent to trade at 55.5 cents at 2:24 pm AEST
Red Dirt Metals (RDT) has received fresh results from diamond drilling at its Mt Ida lithium-gold project in Western Australia.
The company reported “exceptional” grades of lithium oxide from the Sister Sam and Timoni pegmatites.
Hole IDRCD204, which was drilled at Sister Sam, intersected 31.9 metres at 1.01 per cent lithium oxide from 367 metres including eight metres at 1.9 per cent lithium oxide from 378 metres.
Meanwhile, IDRCD172 returned 26.3 metres at 1.1 per cent lithium oxide from 299.9 metres including 3.5 metres at 2.4 per cent lithium oxide from 300.4 metres at the Sister Sam pegmatite.
At the Timoni pegmatite, the initial hole IDRCD153 intersected a 5.2-metre zone grading 2.42 per cent lithium oxide from 275.6 metres.
The Timoni pegmatite remains open at depth with IDRD006 intersecting 14.95 metres of pegmatite core from 404 metres downhole approximately 120 metres further down plunge from IDRCD153. This supposedly indicates the pegmatite is thickening with depth.
“An excellent result again from the diamond core assays especially now with Timoni pegmatite also reporting very high-grade lithium results over good widths,” Managing Director Matthew Boyes said.
Drilling at Sister Sam will now focus on delineating the shallower portion of the pegmatite body between 200 and 40 metres from surface to support metallurgical testwork and a resource update.
The company has recently mobilised a fourth drill rig to the site and an additional rig is expected before the end of the month so it can advance the resource drill-out and regional exploration programs.
The work will enable Red Dirt to upgrade Mt Ida’s mineral resource estimate from JORC 2004 to JORC 2012 which requires updating for compliance reasons.
“I see the calculation of this resource estimate as our next major de-risking hurdle in the development of the Mt Ida lithium project,” Mr Boyes added.
Company shares were down 5.93 per cent to trade at 55.5 cents at 2:24 pm AEST.