The company has secured two out of the three tenements that comprise the project. Pic: via Getty Images.
SQM is exploring right next door to Golden Mile’s Marble Bar lithium-gold project
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- Golden Mile has been granted two out of three tenements at the Marble Bar lithium-gold project
- Project is underexplored despite being in the heart of the East Pilbara lithium province
- Company completing a desktop study with field reconnaissance planned for early 2024
Golden Mile Resources is gearing up to start works at its Marble Bar lithium and gold project after the grant of two of the three tenements that make up the project.
The East Pilbara region of Western Australia is renowned as a world-class lithium province with potential for associated tantalum and rare earth element (REE) mineralisation, and also gold.
The region already hosts two of the largest hard rock lithium deposits in the world at Wodgina and Pilgangoora, around 100km from the Marble Bar project.
The project is also just 20km from Global Lithium Resources’ (ASX:GL1) Archer lithium discovery.
The prospectivity of the area is further emphasised by Sociedad Quimica y Minera de Chile S.A (SQM), the world’s second largest lithium producer, which entered into a JV to explore Kalamazoo’s Marble Bar, Pear Creek and DOM’s Hill projects adjacent to Golden Mile Resources’ (ASX:G88).
That’s just on the lithium front.
The East Pilbara is increasingly becoming the focus of gold and base metal exploration following the discovery of the Hemi Gold deposit, with the tenements also within 100kms of the Warrawoona (1.5Moz), Beatons Creek (0.9Moz), Mt York (0.9Moz) and Bamboo Creek gold deposits as well as the Sulphur Springs copper-lead-zinc deposit.
Underexplored tenements prospective for lithium
Golden Mile says the two granted tenements are relatively unexplored and there appears to be no recorded exploration specifically targeting lithium or nickel on any of the tenements.
On tenement E45/6210, the only recorded historical exploration sampling are 17 stream samples and 27 rock chip samples targeting conglomerate hosted gold. The best rock chip result was 0.56 g/t gold.
At tenement E46/6211, the company believes there’s prospectivity for nickel, gold and lithium.
A single diamond hole by Western Mining Corporation (WMC) drilled in 1976 at the Shady Well prospect on the western boundary returned 0.5m at 0.6 ppm gold from 259.36m and three RC holes were drilled by Whim Creek Mining in 2012 to test for gold mineralisation along strike of the Comet gold mine.
The remaining tenement yet to be granted, E45/6212, is 12kms from the Bamboo Creek gold mine and 28km east of Global Lithium’s Archer lithium deposit.
Advanced Quicksilver nickel-cobalt project still the focus
At Marble Bar, the company is commencing a desktop study which should be completed by the end of the year, along with planning field reconnaissance for exploration targeting of lithium pegmatites, lode gold and nickel scheduled for early 2024.
Meanwhile, at the Quicksilver project, the company recently intersected significant oxide nickel and cobalt below the existing 26.3Mt resource, indicating there’s potential for more nickel at depth.
G88 is currently advancing Stage 3 metallurgical test work programs and quickly progressing towards a scoping study, the first proper look at the economics of building a project.
“We see the potential to enhance our portfolio through advancing the Marble Bar project while maintaining our priority on the Quicksilver nickel-cobalt project,” MD Damon Dormer said.
This article was developed in collaboration with Golden Mile Resources, 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.
