33m at 1.18pc lithium: Prospect’s WinBin discovery could be a feeder zone, drilling shows

Prospect Resources reports assays of 33m at 1.18% Li₂O from 81m, including 24m at 1.41% Li₂O from 88m at WinBin
Company discovered WinBin last month at its Step Aside lithium project
Drilling has highlighted potential for discovery to be a ‘feeder zone’
Expanded Phase 3 drilling underway with assays expected in January 2024

Special Report: Follow up drilling at Prospect Resources’ new WinBin discovery at the Step Aside lithium project in Zimbabwe has returned 33m at 1.18% Li₂O from 81m, including 24m at 1.41% Li₂O from 88m.

The company has previously voiced its belief that Step Aside could be within the same mineralised system as the 72.7Mt Arcadia project, which it sold to Huayou Cobalt in mid-2022 for about US$422m in cash.

Phase 2 drilling earlier this year at Step Aside – just 8km from Arcadia — returned 6.28m at 1.09% Li₂O from 67.5m.

Now, follow up diamond drill hole CDD056 has flagged up to 1.41% lithia, and a 10.45m-wide zone of the WinBin pegmatite was also intersected in drill hole CDD054, 220m beneath the discovery holes – which also contains visual spodumene crystals.

Plus, recent XRD analysis from pulp samples of discovery hole CDD055 has demonstrated WinBin lithium mineralisation is predominantly spodumene (+95%).

Potential pegmatite feeder zone

The full structural position of the WinBin deposit, plus the narrower but well mineralised pegmatites to the north, is still not entirely clear, but the company says there’s mounting evidence that WinBin may be the potential feeder zone for the Colga pegmatite swarm (specifically Pegmatites A to F) which was targeted during the earlier phases of drilling at Step Aside.

Indirectly, the WinBin discovery itself may be ‘fed’ from a larger (currently undefined) regional intrusive parent body in the broader Harare Greenstone Belt.

“WinBin continues to provide very promising results which has our team very excited, particular with the potential this body provides as a feeder system to the northern pegmatites,” Prospect Resources (ASX:PSC) MD and CEO Sam Hosack said.

“In addition, the belief that WinBin feeder is yet to be fully understood, makes this very compelling geological process.

“We look forward to providing more news flow on Step Aside over the coming months.”

A total of five further drill holes targeting extension of WinBin to the south have intersected strong intersections of coarse spodumene, with all assays pending.

Phase 3 diamond program expanded

“The deep intersection of mineralised pegmatite within drill hole CDD054, along with multiple further intercepts of strongly mineralised pegmatite in subsequent holes drilled to the south of the WinBin discovery has demanded this area of the Step Aside licence be subjected to further immediate follow-up drilling,” the company says.

With 3,750m of the expanded 5,000m Phase 3 program having been completed to date, the remaining 1,250m is being deployed to this end.

The expanded diamond drilling program is expected to complete in early December, with two rigs currently on site and most assays expected to be available by mid-January 2024.

PSC says the results of the Phase 3 program will also inform the design and optimisation of a planned Phase 4 program to commence early in the New Year, focused on WinBin.

This article was developed in collaboration with Prospect Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.