Prospect builds on successful Phase 2 results at Step Aside with ramped-up drilling campaign

Prospect has embarked on the next phase of drilling at its promising Step Aside project in Zimbabwe where previous drilling had already extended the footprint of its lithium mineralisation.

The Phase 3 diamond drilling program of up to 5,000m will be carried out over the next three months to both extend the limits of the identified spodumene-rich pegmatite deposits and scout exploration of key lithium soil anomaly targets.

It follows on the successful Phase 2 drill program, which returned robust lithium intersections at four of the five visible pegmatite outcrops it targeted.

This returned notable assays such as 6.28m at 1.09% Li₂O from 67.52m including 1.14m at 2.63% Li₂O from 70.55m at Pegmatite E, 5.96m at 1.08% Li₂O from 100.27m at Pegmatite D, and 5.96m at 1.02% Li₂O from 57.27m at Pegmatite B.

Importantly for Prospect Resources (ASX:PSC), that drill program also extended the interpreted strike length of Pegmatite D – the largest deposit defined to date – to at least 160m with potential for growth to the south and at depth.

Results from Pegmatite B and E were also described as “highly encouraging” with excellent widths and grades, including significant thickening at depth for Pegmatite B.

Phase 3 to build on success

It shouldn’t come as a surprise then that the company will seek to build on the successes of its previous two drilling programs at Step Aside.

Phase 3 will test for strike and depth extensions of pegmatites B, D and E.

In addition, the company will carry out scout exploratory drilling south of the Pegmatite B and D/F deposits in areas showing strong, coherent, lithium-in-soil geochemical anomalism.

Prospect had previously voiced its belief that Step Aside could mirror the Arcadia project, which it sold to Huayou Cobalt in mid-2022 for about US$422m in cash, in having several parallel narrow pegmatites potentially coalesce into a more comprehensive, lithium mineralised pegmatite system at depth.

Step Aside is located just 8km north of Arcadia, which has a defined mineral resource of 72.7Mt grading 1.02% Li₂O.

Step Aside consists of a folded sequence of meta-sediments of the Gwebi and Mapfeni Members, which are intruded by north trending pegmatites, dolerites and quartz veins of the Mashonaland Suite, which make up the youngest rocks found within the Harare Greenstone Belt.

The individual visible mineralised pegmatites mapped at surface are all generally parallel to one another, striking roughly north-south with dips of 60 degrees to 75 degrees to the west.

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.