Mt Feldtmann is prospective for lithium, gold, base metals and rare earths. Pic: via Getty Images.
Mining
Mt Malcolm Mines has defined two lithium anomalies and “significant pegmatite swarms at surface” at its new Mt Feldtmann tenements in WA.
The company is primarily focused on the development of the recent Calypso ‘Constance Lode’ discovery at the Mt Malcolm gold project, where it plans to mine shallow, high-grade gold deposits to realise early cash flow while exploring.
But while gold is the main game, Mt Malcolm Mines (ASX:M2M) is also on the hunt for other commodities, recently lodging two Exploration Licence applications (E38/3905 and E38/3906) approximately 140kms north east of Laverton WA.
The tenements consist of 639.2 km2 and are prospective for lithium, gold, base metals and Rare Earth Elements (REE) and are surrounded by countless precious and base metal occurrences.
The holdings are sandwiched between the Yamarna and Mt Venn Greenstone Belts, west of the Yamarna Shear Zone (YSZ) and are just 60km from Gold Road Resources (ASX:GOR) and Gold Field’s Gruyere gold mine.
The company has already defined two large lithium anomalies in historic multi-element soils data sampled by Breaker Resources in 2012.
This data generated two large Li anomalies in the vicinity of Mt Cummings, 8km x 3.5km and 12km x 4.5km at +20ppm lithium with central cores returning +30ppm lithium.
Additionally, a + 3ppb gold anomaly was also defined over 25km with smaller +6ppb gold areas and a peak value of 25ppb gold.
Initial on ground reconnaissance has confirmed the presence of significant pegmatite swarms at surface, which can contain lithium.
The Project area is surrounded by countless precious and base metal occurrences. 1:100,000 scale mapping by GSWA indicated a mixed outcrop with colluvium and sand cover west of the YSZ and aeolian sands dominate the western areas.
The GSWA Throssel 1:250,000 Explanatory notes also describe abundant pegmatites in foliated granite east of Mt Cumming which is located 5km to the south of E38/3905 and 8km west of E38/3906.
The majority of the 639sq km project area remains untested.
“We plan to conduct geological reconnaissance, outcrop sampling and mapping of pegmatite occurrences in the coming weeks over anomalous areas defined to date and systematically unlock the potential of the Mt Feldtmann lithium footprint hosted within the greater project area,” M2M MD Trevor Dixon said.
This article was developed in collaboration with Mt Malcolm Mines, 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.
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