Are the original founding directors of $15 billion lithium juggernaut Pilbara Minerals in the early stages of a new lithium discovery just 70km from where it all began for them eight years ago?

Based on results reported by their new vehicle, Trek Metals (ASX: TKM), this morning, investors will be closely watching unfolding developments at the Tambourah lithium project in Western Australia’s Pilbara region.

Laboratory assays of rock chip sampling have returned high-grade results across multiple spodumene-bearing pegmatite dykes across the Tambourah tenements.

Notable results such as 3.07% Li2O, 2.69% Li2O and 2.36% Li2O highlight the prospectivity of Tambourah, which Trek describes as an under-explored greenfields project that has never been drill tested – and which offers exceptional potential for a new lithium discovery.

“This is a very exciting breakthrough for our exploration team,” chief executive officer Derek Marshall said.

“Confirming very high-grade lithium at surface in multiple spodumene-bearing pegmatite dykes is about as good as it gets for this stage of exploration, highlighting the enormous prospectivity of the mineralised system at Tambourah.

“We have ticked another major box towards making a greenfields lithium discovery,” he said.

Untapped potential

So just what is it about Tambourah that first had the company, which has the celebrated founders of Pilbara Minerals – Tony Leibowitz, Neil Biddle and John Young – on its board, picking up the project in the first place?

For starters, it is located just 70km south-east of PLS’ world-class Pilgangoora lithium mine site, the project which Leibowitz, Biddle and Young first identified and picked up back in 2014, leading to a world-class lithium discovery.

Historical rock chips have also provided the company with a firm idea of what might be present at Tambourah, with the presence of a large, fractionated lithium-caesium-pegmatite swarm already highlighted.

These correlate well with both previously reported anomalous stream sediment data and mapped pegmatites.

The known pegmatite swarms, with multiple stacked pegmatites, extend over an area of at least 4km2 and up to 1.6km long while fertility indicators for LCT pegmatites suggest that a significant portion of these mapped pegmatites are prospective for lithium mineralisation.

Upcoming activity

Trek is currently focused on defining drill targets within the areas with anomalous lithium and other pathfinder elements such as caesium, rubidium and tantalum that were generated during historical exploration by Fortescue Metals Group.

It will then seek to progress agreements and approvals required to get a rig on site as soon as possible.

 

 

 

This article was developed in collaboration with Trek Metals, 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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