Shares in mineral explorer Tambourah Metals shot up over 83 per cent this morning after multiple prospective pegmatites were confirmed across a strike length of 500m at the company’s Russian Jack lithium project in WA’s Pilbara region. The explorer also excited the market by claiming a small yet highly prospective tenement in the Pilbara’s latest lithium hotspot.
Surface samples collected across Tambourah’s newly identified strip pegmatites returned a peak grade of 571 parts per million lithium in addition to anomalous readings across a suite of the battery metal’s pathfinder elements.
The company plans to follow up on its anomalous find by reviewing the project‘s hyperspectral data and preparing an in-field exploration strategy. A heritage survey to permit further exploration is also planned.
Tambourah Metals Managing Director, Paul Araujo said: “Tambourah has identified pegmatite swarms with some continuing over 500 metres in length and up to 8 m high. We are planning to identify and field test newly recognised pegmatite swarms at several locations within this large project area.”
Tambourah says its Russian Jack project captures a significant portion of the prospective Bonney Downs granite rock unit, a member of the broader Split Rocks Supersuite package. The company has previously described the rock unit as “the engine room of the East Pilbara for the emplacement of pegmatites”
Interestingly, Geoscience Australia says about 95 per cent of Australia’s lithium resources are found within just five deposits and all are in WA. Importantly, two of them, Pilgangoora and Wodgina, belong to the Pilbara.
In the case of the Pilbara’s world-class lithium mines including Pilgangoora and Wodgina, highly fractionated intrusions such as the Bonney Downs unit serve as sources for rare metal spodumene pegmatites that intrude into the surrounding rocks.
Less than 100km to the north-west, at the company’s Tambourah North project, the explorer purchased a new lithium and gold exploration tenement for just $5000. Notably, the 3.03-square-kilometre prospective holding, Tambina, sits within the Pilbara’s latest emerging lithium hotspot and amongst a scrum of battery metal explorers.
Just last week, ASX-listed Trek Metals encountered rock chips going as high as 3.07 per cent lithium oxide at its project less than 2km to the south of Tambina. Similarly, just over 10km to the east, ASX-listed Eastern Resources is awaiting assays after intercepting pegmatites in 30 holes of its 32-hole RC program that was inspired by rock chips going 2.28 per cent lithium oxide.
In addition, to being nestled in the heart of the unfolding action, Tambina contains elevated levels of lithium and rubidium as recorded in historical stream sediment samples. In tandem with its exploration plans at Russian Jack, Tambourah plans to sweep across its fresh lithium and gold ground with a first-pass sampling and mapping campaign.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
