Prospect doubles down on lithium feeder zone at Zimbabwe project
Special Report: Assays from Prospect Resources’ Phase 3 drilling at the Step Aside lithium project in Zimbabwe have returned up to 2.21% Li2O.
The company has previously voiced its belief that Step Aside could be within the same mineralised system as the 72.7Mt Arcadia project, which it sold to Huayou Cobalt in mid-2022 for about US$422m in cash.
Hopes were high following the discovery of high-grade spodumene mineralised pegmatite at the WinBin target in October, and Prospect Resources (ASX:PSC) accelerated its Phase 3 diamond drilling programme at the project.
Now, the latest assay results have expanded the WinBin discovery, demonstrating the mineralised feeder zone continues from WinBin through to an extension of Pegmatite C, which was targeted during earlier drilling programmes.
The company now believes this system is at least 580m in strike length and open at depth, feeding pegmatite swarms defined in earlier drilling campaigns.
The current interpretation at Step Aside indicates this feeder system has likely generated the narrower Pegmatite A, B, D and F swarms defined further north, with those deposits also open at depth.
Six holes from the Phase 3 programme at the WinBin discovery returned:
“The WinBin discovery continues to deliver for us,” PSC MD and CEO Sam Hosack said.
“This latest batch of Phase 3 assay results has significantly extended the strike extent of the broader discovery, as well as increasing our understanding of the controlling geology in this zone.
“We look forward to the receipt of the remaining assay results from the Phase 3 programme during Q1 2024 to continue this momentum. “
Assays remain pending for 10 holes.
The company plans to conduct a Phase 4 programme with 2,000m of diamond drilling set to commence in January 2024, targeting extension positions of WinBin further south and at depth.
It will also follow up high-grade intersections at Pegmatite E – including 3.49m at 1.59% Li2O from 67.96m returned earlier this year – with the pegmatite currently interpreted to strike over about 150m trending to the northwest.
“We are straight back into it in the New Year with the scheduled Phase 4 drilling set to continue the drill-out of WinBin,” Hosack said.
“This work will also test the area of high-grade intersections previously returned around Pegmatite E to the north.”
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.