Commenting on the Phase 2 results, Simon Coxhell (MD) said, 'The success of the field programs has confirmed the presence of lithium bearing pegmatites over appreciable widths and highlighted the potential of the North Spirit Lithium property. In the space of six months the project has grown from one historic anomalous rock chip sample to a number of prospective outcrops confirmed by these latest channel sample results. Three prospective areas have been identified and will now be advanced for future drill testing
Phase 2 Exploration Program A total of 65 channel samples were collected returning grades of 0.02% to 3.22% Li2O, with an average of 1.35% Li2O. 46 of the 65 channel samples returned assays greater than 1.00% Li2O. Due to extensive overburden cover, the full extent of the mineralized pegmatites remains unknown. The geophysical expression of the spodumene-bearing pegmatites are interpreted to continue well ASX Announcement
Livyatan
At Livyatan, a total of five channels, ranging from 2.00m to 11.70m in length, were collected from the newly identified spodumene-bearing pegmatite that was traced over 75 metres in Phase 1. The results are highlighted by channel CH23-10, which returned a broad zone of 1.72% Li2O over 11.70m that appears to continue under cover to the north. Other channels along the 75 metre trend returned 1.57% Li2O over 6.50m, 1.75% Li2O over 5.35m, 1.57% Li2O over 6.50m and 1.42% Li2O over 2.00m. These results emphasize the consistent grades over appreciable width throughout the known outcropping pegmatite. Due to overburden cover, the length of the channel cuts does not span the entire width of the pegmatite. Therefore, at this stage this pegmatite remains open along strike and the width is not fully tested.
Wrightback
The Wrightback showing, located 325 metres northwest of the Livyatan showing, returned the best grades of this program with 2.82% Li2O over 2.95m, including 3.22% Li2O over 0.85m. A total of four channel samples were collected, totaling 15.90m. Channel lengths in this area ranged from 2.55m to 5.90m. The contacts of the spodumene bearing pegmatites are largely concealed by overburden and therefore true widths are not fully understood. Given the high-grades and the widespread occurrences of Spodumene, this target continues to demonstrate the potential of the system.
Orca
Channel sampling at the Orca Showing consisted of three channels, ranging from 1.70m to 8.50m in length. The channels were collected from a spodumene-bearing pegmatite outcrop approximately 900 metres north of the Wrightback showing within the
Future Work Program
High grade mineralisation with appreciable widths have been identified at all three occurrences. Based on the positive assay results coupled with the extensive overburden, multiple drill targets have been identified at each of the occurrences. Furthermore, the trend of the mineralization within the
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Competent Person Statement
Exploration or technical information in this release has been prepared by Mr. Simon Coxhell, the Managing Director of
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