Battery metal explorer Askari Metals has completed another round of field mapping and sampling at the company’s Barrow Creek lithium project located in the NT’s Arunta pegmatite province. The field program was designed to identify and sample outcropping pegmatites in the previously unexplored south-central portion of the project.
Battery metal explorer Askari Metals has completed another round of field mapping and sampling at the company’s Barrow Creek lithium project located in the NT’s Arunta pegmatite province. The field program was designed to identify and sample outcropping pegmatites in the previously unexplored south-central portion of the project.
Askari deemed its campaign very successful after mapping a significant pegmatite field measuring 2km by 1km and collecting a total of 139 rock samples across all visible outcrops.
Whilst the south-central pegmatites had not yet been tested for lithium, they exhibit analogous lithologies similar to lithium-caesium-tantalum-type pegmatites already mapped and sampled by the company in the north-east and south-east areas of the project.
Previous phases of exploration have identified fertile pegmatites with lithium values of up to 817 parts per million lithium oxide in the north-east and values of up to 456ppm in the south-east.
Askari observed pegmatites varying in widths from 5m plus at surface and expects their size to swell at depth.
The explorer also encountered significant tourmaline mineralisation in the pegmatites and says the presence of tourmaline can be associated with tin and tungsten mineralisation — both of which are ‘pathfinder’ elements to lithium mineralisation in the interpreted setting.
The south-central portion of the tenement has not been actively explored previously due to its relatively inaccessible terrain and Askari sees the limited exploration as an opportunity to make a significant discovery.
Multiple areas have been marked for follow up exploration and Askari plans to continue its hunt through the challenging terrain with high-resolution drone imagery and an all-terrain vehicle.
Askari Metals Vice President of Exploration and Geology, Johan Lambrechts said: “The Company is excited by the identification of this large pegmatite field in the South-Central portion of our project and eagerly awaits the results of the 139 samples collected from the multiple visible pegmatite outcrops. The pegmatites are the most continuous and extensive we’ve uncovered so far and so warrants the enthusiasm we feel for the project.”
The previously mapped pegmatite field in the north-east area of the project measures a larger 4.8km by 3.8km, however the south-central field appears to outcrop more extensively and continuously whilst exhibiting similar mineralogy.
The company has finalised its drill design for the north-east and awaits approvals from the state regulator to start spinning the drill bit.
In terms of the freshly mapped south-central area, Askari plans to use assays from its 139 rock-chip samples to guide a gridded rock and soil sampling campaign as it looks to recreate the successful approach used in the north-east.
In addition, it plans on returning to the south-eastern part of Barrow Creek to follow up its positive assay results.
Lithium has once again caused a stir in the markets this time with rumours circulating that world-leading spodumene miner Mineral Resources is considering spinning-off the lithium arm of its $13.4-billion-market-capped business.
Shortly after the open this morning Mineral Resources shares touched as high as $72.25 representing a 15.5 per cent increase on yesterday’s close.
Askari Metals’ share price touched $0.385 today after last Friday’s close of $0.32 representing a 20 per cent gain for the week.
Interestingly in similar fashion, Askari’s fellow NT lithium explorers Lithium Plus Minerals and Core Lithium are up 20 and 22 per cent, respectively since last Friday’s close.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
