ASX-listed gold explorer and producer Calidus Resources has enjoyed success with the drill bit in a maiden RC program at Spear Hill in the Pilbara – for lithium, not gold.
The campaign was conducted by Pirra Lithium, a company owned equally by Calidus and Haoma Mining. Pirra’s initial drill program of 20 holes for 1535 metres tested an exposed pegmatite that has previously yielded rock-chip assays of up to 2.34 per cent lithium oxide and a poorly exposed pegmatite to the north.
Significant intercepts from the campaign included 2 metres at 1.11 per cent lithium oxide from 19m, 2m at 1.09 per cent from 5m and 2m from 1.03 per cent from 25m.
Eleven of the 20 holes contained intercepts of more than 0.5 per cent lithium oxide and the drilling confirmed the pegmatite dips gently to the north-north-east and can be traced for more than 250m down dip from the surface exposures.
Another eight planned holes could not proceed because of boggy ground caused by unseasonal rain. These holes will form part of the next phase of drilling.
Calidus Managing Director David Reeves said: “The drilling represents only a small portion of the outcropping lithium pegmatites, with another 3km of strike length of pegmatite untested."
Spear Hill is located about 50km south-west of Marble Bar and is best known for its tin, mined in the Shaw River tin field between the late 19th century and 1975. The tin deposits are associated with granite and pegmatite of the Split Rock Supersuite.
Pirra Lithium was formed at the beginning of this year and was assigned tenements and lithium rights across the most prospective lithium ground owned by Calidus and Haoma. Those tenements now total more than 1000 square kilometres.
In June, Calidus announced rock-chip sampling and mapping had almost doubled the known strike length of the outcropping lithium-bearing pegmatites to 4.3km.
Calidus also issued an update on its gold exploration activities. The company’s RC drill rigs are currently being mobilised to Marble Bar and to Blue Spec West, in the Pilbara 20km south east of Nullagine, for a maiden drill program where Calidus says it will test strong gold-in-soil anomalies present over 2.5km of strike length.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
