Askari firing up the drills at five targets onsite Yarrie lithium project in the east Pilbara

Askari Metals (ASX:AS2) has catalogued eleven new prospective lithium targets onsite its Yarrie Project in the east Pilbara region of WA, with five of those labelled priority prospects to be explored with shallow aircore drilling in the near future. 

The company notes its auger drill run is likely to meet success given the unique geology of the Pilbara and the way lithium mineralisation often occurs within it at shallow depths. 

In logging the targets, Askari collected 129 rock samples and over 230 stream sediment samples across nine tenement areas; the company now advances applications for those without current exploration permissions. 

Most notable, perhaps, is that the company has mapped the presence of multiple pegmatite outcrops. 

A photograph of pegmatite outcropping discovered at Yarrie back in April

Geological similarities 

Askari highlights the acreage boasts similar geology to that of other successful Pilbara-based lithium plays. One of the most prolific is Pilbara Minerals (ASX:PLS), which regularly conducts spodumene auctions. 

The Yarrie project sits nearby Global Lithium Resources’ (ASX:GL1) Archer project, as well as Kalamazoo Resources’ (ASX:KZR) Marble Bar project. 

The Archer project boasts a resource of 10.5Mt @ 1% lithium (Li2O). 

Management says there are no surprises: the company already knew it was sitting on good acreage. 

“This field campaign has gone one step further and validated what we had previously identified,” Askari VP of Geology and Exploration Johan Labrechts said. 

“We are very excited about the long term potential at the Yarrie project.” 

Timeline so far 

Back in March of this year, Askari first announced it had discovered initial evidence of lithium exploration targets at Yarrie via a review of existing geological data and ground-based surveys. 

Then, in April, the company moved forward with a mapping and sampling program, to which exploration technician Lambrechts referred today. The company also highlighted at this time little exploration has been carried out at Yarrie thus far. 

In May, Askari saw its share price jump 10% when the company announced it had mapped the Yarrie project acreage (no small feat, by the way,) and at this time the 129 rock samples and 230 stream sediment samples were collected. 

It was in May Askari highlighted its intention to undertake an aggressive exploration campaign at Yarrie, and after months of work, the company is now getting ready to welcome on-site the first drill rigs to begin testing. 

Askari Metals is on the way back up

Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Askari Metals 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.