BULLETIN RESOURCES LIMITED Bulletin Resources Limited advised that it has identified lithium and nickel targets on its newly acquired 36km2 tenement E74/680, immediately north of known lithium bearing pegmatites. The tenement is only 7km west of Allkem's operating Mt Cattlin lithium mine. Targets for lithium and nickel have been generated from a review of historical geophysical and geochemical exploration.
Lithium Targets Re-interpolation and interpretation of radiometric imagery with a focus on pegmatites has been completed over the Ravensthorpe Lithium project by geophysical consultants, NewGenGeo Pty Ltd. Radiometric spectrometry is a surficial mapping technique that uses the detectability of higher potassium (K) content in and around the granitic pegmatites compared to the low-K calc-alkaline volcanic complex host of the Annabelle volcanics. Pegmatites are by nature coarse-grained and large K-feldspar and K-mica phenocrysts (large crystals) can persist in soil when the pegmatites are eroded. The technique can identify areas of higher K in soils, indicating potential pegmatite; particularly when the dataset interpretation can be guided by examples of known nearby pegmatite occurrences.
Further south within Bulletin's E74/655 tenement, the radiometric image over the known pegmatites shows good correlation, with K high areas overlying known outcropping pegmatites. Importantly, several new targets have been identified and will be followed up with on-ground mapping and the upcoming results of the recently competed LIDAR survey. Nickel Targets Ultramafics lie immediately northwest of the Annabelle Volcanics and the ground was previously explored for base metals including nickel by Pioneer Nickel in a joint venture with Allkem (previously Galaxy).
Work included mapping, soil sampling, and electromagnetic geophysical surveys including VTEM and MLTEM. While mapping is hampered by lack of outcrop due to farming activities, two NNE trending ultramafic units were identified with the eastern trend being the thicker ultramafic unit. High MgO rocks within this unit comprise medium to coarse grained serpentinised mesocumulate and more commonly orthocumulate.
Auger sampling at a depth of 0.8m over the ultramafic units identified several co-incident Ni-Cu anomalies which have yet to be followed up with deeper drilling. Tenement E74/680 lies north of the highway and land in this area is dominated by large acre agricultural cropping operations. Land to the south of the South Coast Highway is largely free of farming (Figure 5).
No drill testing of either the soil or geophysical targets was completed before Pioneer withdrew from the JV and all targets remain to be tested. As part of due diligence, Bulletin has secured land access agreements over target areas within E74/680, ensuring exploration can proceed. Bulletin's focus is on the lithium potential of the area but plans to validate these nickel targets with infill auger sampling and high resolution ground geophysics once crops in the area have been harvested.
