Auroch Minerals’ (ASX:AOU) shareholders are keeping tabs on the company’s operations today as it reports the successful intersection of lithium-in-spodumene at its WA-based Nepean project, formerly a pure-play nickel project.
Nepean hosts a historic nickel sulphide mine which was once the second producing nickel mine in Australia, pushing out 32.2kT of nickel between 1970 and 1987.
Very little deep exploration beneath the existing mine was ever tested, Auroch notes.
Somewhat surprising, then, is the fact Auroch have been able to successfully hit lithium at Nepean, and not only that, but lithium in spodumene; the most desired form of hard-rock lithium.
Today is not the first time Auroch has turned its attention to lithium at the nickel project (both materials are technically battery metals.)
Spodumene is desirable for it poses implications of easier downstream processing, been well understood and common geological feedstock in Australia.
Auroch today reports:
6m @ 1.88% lithium from 198m, including:
2m @ 3.26% lithium from 198m depth (NPRC084)
3m @ 0.36% lithium from 165m depth, including:
1 m @ 0.52% lithium from 167m depth (NPRC085)
4m @ 0.29% lithium from 242m depth
The first two results are by far the strongest, with the latter two drillholes failing to meet high-grade cutoffs (typically 1% or over for hard-rock lithium.)
However, with those results both occurring at nearly 200m depth, the company will have no small task on its hands figuring out how to get to that mineralisation, if it can prove that a large high-grade system exists that deep.
Still, some shareholders at least are demonstrating a bullishness for Auroch Minerals in Thursday trades.
Auroch will now kickstart a “high priority exploration programme to potentially delineate further high grade spodumene mineralisation.”
Auroch’s exploration team will now commence ground sampling and mapping of pegmatites at Nepean North, where focus is most gathered.
Further geochemical investigations will be undertaken (soil and rock samples,) and permitting for an RC drill run will now commence.
Auroch will “potentially” also move toward procurement of a diamond drill rig for deeper testing.
“Limited work on the pegmatites thus far has successfully confirmed high grade lithium mineralisation, and even more importantly spodumene mineralisation,” Auroch exploration chief Robin Cox said.
The company’s executive chair, Mike Edwards, was in the same boat.
“The discovery of high grade lithium within spodumene at Nepean is a great addition to our strategy as a battery metals focussed resource company,” Edwards commented.
“This nicely compliments our efforts at the Nevada Lithium Project.”
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