UP 200%: TG Metals drills into lithium anomaly ‘completely mineralised with spodumene’
• TG Metals initial drilling intersects high-grade lithium up to 2.28% Li2O at the Burmeister lithium soil anomaly
• Five of the six holes intersect multiple-stacked spodumene-bearing pegmatites
• Plenty of potential for more to be found as drilling covers only a small part of the anomaly
• Preparation underway for Phase 2 drilling at the Lake Johnston project
TG Metals has rocketed almost 200% after hitting paydirt at the Lake Johnston project, with maiden holes intersecting high grade lithium of up to 2.28% over 9-12m widths, 200m apart.
The stock listed on the ASX May last year with assets prospective for nickel, lithium, and gold in the Goldfields-Esperance region of WA.
It had amassed the largest land package ever held by one exploration company within the Lake Johnston Greenstone Belt, saying the region has been “historically overlooked and underexplored”.
Neighbouring operators such as Charger Metals (ASX:CHR) have defined spodumene bearing pegmatites in proximal lithium prospects like Medcalf.
Soil sampling by TG Metals (ASX:TG6) defined lithium anomalies, which has culminated in a reverse circulation drill program to define orientations, thickness and grade of the Burmeister soil anomaly, which stretches over a 4.5km by 1.7km area.
Assays from the first drill holes into the Burmeister lithium soil anomaly have now returned high-grade lithium intercepts of up to 2.28% Li2O.
Five of the six holes completed, which were drilled to depths of between 120m and 132m, intersected multiple-stacked pegmatites with all pegmatite intervals hosting lithium mineralisation averaging 1.46% Li2O in spodumene.
Down-hole widths ranging from 9m to 12m and the better intercepts are 9m at 1.35% Li2O from a down-hole depth of 30m and 9m at 1.62% Li2O from 87m.
Drilled pegmatites remain open down dip, along strike and up dip on the deeper intercepted bodies.
The results are an indicator that TG Metals might be on to something significant as drilling was completed on two lines that are 200m apart, which is just a small part of the Burmeister anomaly.
Lithium punters certainly seem to agree, sending shares in the company soaring.
“These are exceptional initial drilling results especially since we have only tested such a small part of the soil anomaly,” chief executive officer David Selfe said.
“There appears to be multiple pegmatites with consistent widths of between 8 to 12 metres, that are completely mineralised with spodumene.
“The targeted soil geochemical anomaly is very large and remains open, particularly to the east. The next phase of drilling will begin shortly and is proposed to test both the lateral and depth potential of this lithium pegmatite system.
“We are planning for an immediate follow up drilling campaign.”
Drilling approvals are in place for further testing of the large lithium soil anomaly.
Preparations are currently underway for Phase 2 drilling with site works expected to begin in the first week of November.
This drilling will test the defined lithium pegmatites at depth and along strike and test for further repetitions at depth.
Additionally, TG Metals will develop the geological model as more information is gained from drilling and secure permits for initial diamond core drilling.
This article was developed in collaboration with TG 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.