Bubalus Resources locks in highly prospective Yinnietharra lithium tenements
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Special Report: Bubalus Resources has completed the acquisition of tenements prospective for lithium mineralisation at its Yinnietharra project in WA’s Gascoyne region.
Yinnietharra is just 2km east of Delta Lithium’s (ASX:DLI) Malinda prospect where drilling has identified spodumene-hosted lithium mineralisation over 1.6km of strike and to a depth of 350m.
While no drilling has been undertaken on Yinnietharra, spodumene-bearing pegmatites have been identified by Delta in an east-west orientation and trending towards the boundary of Bubalus Resources’ (ASX:BUS) project.
This makes for a no-brainer in deciding where to focus the company’s initial exploration activities.
Yinnietharra is also less than 3km from the contact with the Thirty Three Supersuite, a series of granitic bodies believed to be the source for lithium mineralisation in the Yinnietharra area.
Illustrating this, mineralisation at Malinda is hosted in six pegmatite dykes that dip to the south towards the Thirty Three Supersuite and Bubalus’ project.
BUS has now completed the acquisition of the tenements with the issue of 2.35 million shares and a cash payment of $75,000 to the vendor Hardy Metals as reimbursement for past expenditure incurred.
The company is already carrying out field activities with mapping and rock chip sampling underway to identify the size and scale of outcropping pegmatites within the project boundary to identify further targets for drill testing.
It will also undertake surface sampling in away from outcrop to detect areas where pegmatites might be present under cover.
In parallel, a geophysical and spectral review will be undertaken by exploration geophysical consultants Terra Resources to identify targets that will be followed up by ground truthing.
This article was developed in collaboration with Bubalus 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.