Askari back to NT’s Barrow Creek in pre-drill work for company’s second lithium project

Askari Metals (ASX:AS2) is back to Barrow Creek in the NT to further carry out fieldwork ahead of drilling at the prospective lithium project; situated on acreage where instances of fertile pegmatite mineralisation are already known. 

Some 120 rock samples and 350 soil samples were collected in March during earlier exploration activities with lithium mineralisation detected.

The company announced earlier this month it was back to Barrow Creek; with previously untested areas on-site to be tested by geotechs prospective for lithium. 

Its Barrow Creek project covers some 278km² and is located in the NT’s Arunta lithium province, with Lithium Plus (ASX:LPM) and Core Lithium (ASX:CXO) projects nearby. 

Drilling permits inbound

This week, geotechs will take rock chip samples from all visible outcrops on-site. This will be carried out at the same time field mapping is undertaken, giving the company a chance to find future exploration targets.

Right now, the company is eyeing two areas of interest in the north-east segment of the Barrow Creek permit; and the south-west area respectively. 

Askari awaits NT state approvals for drilling to commence at the north-east segment; with SW approval already in place. 

Mineralisation already confirmed 

In the March quarter, the company first discovered pegmatite outcropping on-site with early evidence of possible lithium mineralisation promising. 

At the time, geotechs did not get the chance to thoroughly examine the South Central area—that is also where Askari Metals returns today. 

Steep terrain at the south eastern portion of the acreage has disrupted previous exploration through the region, including by NT government led geological surveys. 

Several mapped pegmatites, however, are known to occur at the northern end of this target area, with piecemeal mapping work to be undertaken. 

Company encouraged: management 

“The Company is encouraged by our discovery of fertile and very anomalous pegmatites in the project area and are excited to complete our reconaissance phase on the south-central part of the project,” Askari Metals exploration VP Johan Labrechts said. 

“This [south-central] area has steep topography, which is part of the reason for its unexplored nature, however, this area hosts the same depositional environment to that where the company has already experienced success sampling pegmatites.”

Three lithium feathers in the hat 

Earlier this month, the company acquired the Myrnas project in the WA Pilbara, also prospective for lithium, which brings Askari Metals’ total lithium project portfolio up to three exploration assets. 

The Myrnas project sits under 30km away from Global Lithium Resources’ (ASX:GL1) Archer lithium deposit, part of its Marble Bar Lithium Project. 

A number of other heavyweight counterparts operate in the relative area, including Pilbara Minerals (ASX:PLS) and Mineral Resources (ASX:MRL). 

Askari Metals' three month charts

Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Askari was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.