Eye on Lithium: ‘High-grades at both ends’ — Patriot hits outrageous 52.2m at 3.34pc lithium
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All your lithium news, Monday January 30.
Patriot Battery Metals (ASX:PMT) has once again exceeded expectations, returning a beautiful hit of 52.2m at 3.34% Li20, including 15m at 5.10% Li20 at the CV5 pegmatite discovery in Quebec.
The strongly mineralised drill intersection further delineates the high-grade zone previously identified in drill holes CV22-017, 042, 066, and 083 with PMT president and CEO Blair Way stating the company could not be more thrilled.
“We have exceeded all of our program objectives, expanding the known mineralised system from a few hundred metres along-strike in 2021, to at least 2.2 km in 2022, remaining open and demonstrating high-grades at both ends,” he says.
The company has kicked off a 2023 drill campaign and will continue to aggressively delineate what it believes will be a top tier lithium asset globally when fully defined.
Shares jumped 18.84% on the news.
A total of 47 lithium companies finished in the green, 51 were flat and another 39 tumbled into the red.
Anson has pegged the Green River lithium project in Utah as a “significant” addition to its US lithium-brine asset portfolio.
The project consists of 1,251 placer claims over an area of 10,620 hectares (106.2 km2 ) and is just 50km from Anson’s flagship Paradox Lithium project.
Surveys are currently underway ahead of a planned resource drilling program in the near future, on receipt of requisite approvals, to further increase Anson’s global JORC resource.
Red Mountain has secured a new tenement in the Northern Territory, increasing the size of the company’s recently acquired Charlotte lithium project.
Plans are in place to begin an initial exploration campaign encompassing geological mapping, rock chip and soil sampling to assess the prospectivity of the tenure.
Following an initial site visit to Mt Cattlin by the Woomera exploration team in late 2022, WML has fast-tracked plans for a geochemical auger drilling program to start on February 1.
Woomera believes the lithium-caesium-tantalum (LCT) system at Mt Cattlin may be more extensive than has been identified on Allkem’s (ASX:AKE) surrounding licences.
The hypothesis held by Woomera is that the pegmatites may extend into its landholding based on the potential for multiple causative granite intrusions and relative timing of the LCT pegmatite intrusions into known breaks/faults throughout the greenstone belt.
The auger drilling program will allow sub-soil testing and aid in determining the extent of non-outcropping host rocks in the area.
Bulletin has expanded its Mt Farmer project tenement holding, almost doubling the area from 59km2 to over 100km2.
The project surrounds Aldoro’s (ASX:ARN) 2km2 P59/2137, which hosts the Niobe rubidium-lithium project.
Bulletin’s tenement applications have over 5km strike of the potential greenstone host to the Rubidium bearing pegmatite unit.
The applications also cover potential northeast extensions to the Dalgaranga gold mine.
The applications are progressing through the DMIRS tenement grant process and on-ground works will begin upon grant of the exploration licences.