Dynamic Metals’ lithium-surrounded Widgiemooltha project just got even bigger
Junior explorer Dynamic Metals has increased its Widgiemooltha project by 220km2 in a region richly-endowed with numerous nickel, gold and lithium operations.
Three more exploration licenses have been granted within the project area, and one of them – E15/1721 – is nestled right next door to Essential Metals’ Dome North lithium project which has an indicated resource of 8.6mt @ 1.23% Li2O containing 105,000t of lithium.
E15/1721 also covers 20km along strike of the western side of ESS’s Pioneer Dome lithium resource.
The Widgiemooltha project area is really starting to emerge as a significant lithium belt, and it’s also surrounded by the Mt Marion, Bald Hill and Buldania projects – all within 25km of Dynamic Metals’ (ASX:DYM) tenements.
With a market cap of 11.2m, DYM is encouragingly fully funded for exploration activities with $5.62m cash in the bank.
The company is in advanced preparations for an AC drilling program with drilling anticipated to commence by mid-June at its Mandilla, Higginsville and Sunday Soak prospects.
The follow up drill program at Widgiemooltha’s Dordie Far West prospect is complete with two holes drilled for a total of 300m.
Maiden drilling at the prospect had returned thick, high-grade intercepts such as 16m @ 1.96% nickel from a down-hole depth of 27m, including 5m at 2.84% Ni and multiple intersections such as 15m at 1.56% Ni from 48m including 3m at 2.06% Ni and 6m at 1.6% Ni from 29m in hole WDR003.
Assays have been submitted to the lab and results are expected within eight weeks.
This article was developed in collaboration with Dynamic Metals, 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.