ITM visited the project to follow up on recently identified copper-gold prospects. Pic: via Getty Images.
iTech Minerals discovers potential new lithium province at Reynolds Range
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- ITM finds over 60kms of lithium pegmatite at Reynolds Range in the NT
- Company tested for lithium around historical Mt Stafford tin mine
- Further field work planned to test copper-gold and lithium mineralisation
Special Report: iTech Minerals (ASX:ITM) has spotted over 60kms of outcropping pegmatites at its Reynolds Range project in the NT – which could potentially point to a previously unrecognised lithium province.
In late May, the company conducted a field trip to Reynolds Range to assess the potential for copper and gold mineralisation across the project area, following a recently completed review of historical exploration.
However, the exploration review noted that there was a historical occurrence of tin at the Mt Stafford mine – and considering that many recent lithium discoveries have been made adjacent to historical tin and tantalum mines it was decided to briefly visit the host pegmatite to assess it for lithium mineralisation.
So far, that theory looks to be true, with multiple rock chip samples returning high-grade values of lithium including:
- 24% Li2O (RR24-019)
- 24% Li2O (RR24-020)
- 90% Li2O (RR24-021); and
- 22% Li2O (RR24-022).
Preliminary identification of the lithium bearing mineral is spodumene, however, confirmation by XRD analysis is pending.
Pic: Location of rock chip samples taken at Reynolds Range. Source: ITM.
Potentially a new lithium province
Having travelled across the full 70km of strike of the Reynolds Range tenement package, the iTech Minerals (ASX:ITM) directors were impressed by the widespread scale of outcropping pegmatites with some individual pegmatites mapped at over 1.4km long and 100m wide.
With over 60km of outcropping pegmatites interpreted on satellite imagery to date, the company believes this has the potential to be a previously unrecognised lithium province.
“From what iTech can determine, this is the first discovery of a lithium bearing pegmatite in the Reynolds Range region and given the abundant outcropping pegmatites across the >70km tenement package may be a previously unrecognised lithium province,” managing director Mike Schwarz said.
“The team is heading back out in the field this week to sample a wider selection of pegmatites around this exciting new discovery.”
The company will also investigate newly identified copper-gold prospects across the project.
This article was developed in collaboration with iTech Minerals, 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.
