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Askari Metals moves to field sampling at WA Myrnas Hill lithium project picked up in August

Tue 08 Nov 22, 12:13pm (AEDT)
A pindan dirt road stretches to the horizon in an unknown region of northern WA
Source: iStock

Key Points

  • Soil auger drilling and rock sample collection to inform boots-on-the-ground fieldworkers exploring Myrnas Hill
  • Company using satellite imagery to chase up interesting areas on-site
  • Project sits nearby other high-impact tenements

Askari Metals (ASX:AS2) has commenced fieldwork at its WA Myrnas Hill lithium play with geotechs to chase up interesting areas on-site using satellite imagery, with a good deal of targets already logged. 

Over 600 samples will be taken in a soil drilling program while reconnaissance and mapping will be conducted wherever promising rock samples are identified.

The company is confident its Myrnas acreage is likely to contain lithium, tin, and tantalum mineralisation, given that the geological peculiars replicate that of Global Lithium’s (ASX:GL1) Archer deposit. 

Busy neighbourhood

That deposit sits within Global’s Marble Bar Lithium Project; which boasts a resource of 10.5M tonnes of ore at 1% lithium. 

While we’re talking about interesting things nearby, there’s also Kalamazoo Resources’ (ASX:KZR) Pear Creek project; as well as Mineral Resources’ (ASX:MRL) acreage nearby. 

Myrnas Hill is prospective for both lithium and gold. The company picked the tenement up in August this year, at the time describing its location in a Goldilocks zone (as evidenced by the success of counterparts operating in the area.) 

Askari bought the project from Raiden Resources (ASX:RDN), for only $200,000. Its exploration team have already scoped out 1.2km worth of exploration leads, covering both lithium and gold.

High chance of success: exploration chief 

“Myrnas Hill is complementary to our district-scale Yarrie Lithium Project, and we see this as a terrific opportunity to expand our footprint in areas that have a high chance of exploration success,” Askari exploration chief Johan Lambrechts said. 

”We have seen high degrees of success with the use of soil auger drilling in the eastern Pilbara region.” 

“We will undertake an extensive soil auger program of more than 600 samples as well as rock sampling and reconnaissance across the project area.”

Askari Metals' three month charts
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.

 

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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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