Six Sigma could be sitting on a big lithium find in Zimbabwe
Mining & Resources
Special report: Six Sigma Metals is reporting exceptionally high-grade lithium mineralisation at its Shamva project in Zimbabwe.
The company (ASX:SI6) told investors today it had uncovered significant intersections of high-grade lithium oxide (Li2O) of up to 4.38 per cent.
Individual metre samples returned even higher grades of up to 4.87 per cent.
The grades reported are extremely high by comparison to a typical grades of a hard rock lithium mine, which range between 0.9 and 1.6 per cent Li2O.
Six Sigma has been drilling the high-priority Bonnyvale prospect to test if lithium mineralisation continued at depth as part its due diligence assessment of the project.
The company now says previous surface sampling suggests it covers a large mineralisation area extending to at least 30 meters below the surface.
The program successfully intersected pegmatite dykes containing visible lithium minerals, including spodumene and lepidolite, in every hole.
Spodumene is the main lithium-bearing mineral mined from most hard rock lithium mines around the world. Lepidolite is also a lithium-bearing mineral.
Full steam ahead
The news is the latest tick of progress for Six Sigma’s activity in the country.
The company struck a deal with Zimbabwe-based miner Mirrorplex to fast-track drilling and acquired an 80 per cent interest in the Shamva lithium and Chuatsa vanadium and titanium projects in July.
Six Sigma is well funded to complete an aggressive exploration program, including an initial drilling program to target high-grade areas.
Zimbabwe open for business
Mining investment is flooding into Zimbabwe following efforts by the government to bring back foreign investment after former president Robert Mugabe was deposed.
The resources sector has been one of the earliest to benefit and Six Sigma has been taking advantage of the favourable political conditions.
The Indigenization and Economic Empowerment Bill, which once mandated that all businesses be 51 per cent owned by indigenous Zimbabweans, has been updated to apply only to diamond and platinum miners.
And in March, Zimbabwe’s mining minister said he expected $300 million of investment in the sector this year.
This special report is brought to you by Six Sigma Metals.
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