TX3 finds stellar lithium grades at Halo-Yuri, finding 4.1% Li2O outcrop

Final batch of assays from Halo-Yuri deliver further rock chip results
Trinex confirms the OIG Prospect has scope for significant lithium mineralisation
Preparation of a Land Use Permit Application is underway

Special report: The latest assay results from outcropping rock at Trinex Minerals’ Halo-Yuri asset in Canada have returned spectacular grades, making the explorer even more bullish on its potential to make a discovery.

Trinex Minerals’ (ASX:TX3) Halo-Yuri asset is one of three projects acquired in late 2023 within Canada’s Northwest Territories.

Recent assay results from the first two batches of pegmatite outcrops successfully confirmed lithium mineralisation, with a number of targets hosting the potential to become world-class discoveries.

The latest results from the Jagged and OIG prospects include an area at Jagged, where mineralised boulders were discovered in a 2.6km north-west to south-east trend, which returned rock chip assays from outcrop of between 1.2-4.1% Li2O.

Those results, from a rare 10m by 15m outcropping area of spodumene-bearing pegmatite, averaged out to over 2% Li2O. Talk about walk-up targets.

Those are grades that, if replicated in bedrock after drilling, would come in among some of the highest in the industry.

The company has been undertaking the first phase of field work since June this year to rapidly determine the prospectivity of numerous pegmatite systems scattered over 450km2 of exploration tenure.

Walk up drill targets verified

The final batch of assays have now been received, delivering further high-grade rock chip results from multiple prospects.

These assays complete the results pending from the early summer work program at Halo-Yuri and have identified additional mineralised areas within the northern part of the project.

It is now confirmed the OIG, Kick, Amber and Jagged prospects all contain walk up drilling targets and these areas will be the focus of the Land Use Permit Application that will be submitted to the MacKenzie Valley Land and Water Board in September.

The permit, once approved, will be valid for five years.

As well as the impressive Li2O grades – mineralised boulders at Kick have graded as high at 5% Li2O – TX3 says there is significant upside within the project based on the amount of ground still to be sampled.

There are also clear indications from the potassium/rubidium ratios (K/Rb) that highlights the trends towards the most highly fractionated, and therefore most prospective, pegmatites.

Spodumene bearing rock, southeast of the Jagged prospect at Halo-Yuri. Pic: Trinex Minerals

Significant resource potential

“The identification of multiple targets gives us confidence that we have the potential to host a significant lithium resource at Halo-Yuri, with a strong pipeline of immediate walk-up drill targets identified,” TX3 managing director Will Dix said.

“Given the clear potential for discovery across the north-east area of the project, we staked an additional two mineral claims during the program to consolidate our position.

“The team is now progressing a land use permit application and indigenous engagement so that we can further our exploration efforts and unlock the full potential at Halo-Yuri.”

What’s next?

The next step is to lodge a Land Use Permit Application to enable a drilling program to be completed.

It is not certain at this stage when a drilling program will be completed as further engagement with local stakeholders and additional sampling and trenching is required in some areas.

Having the Land Use Permit approved gives TX3 certainty that this work will be able to be completed.

This article was developed in collaboration with Trinex Minerals, 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.