Exciting results spur lithium explorer onto diamond drilling phase

Mon 05 Jun 23, 10:09am (AEST)
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Key Points

  • Phase 2 drilling logged 180 intervals containing visible spodumene across 25 drill holes
  • 283 intervals contained visible polylithionite across 15 drill holes
  • Mapping completion and diamond drilling commencement to occur in June

Askari Metals’ (ASX: AS2) latest exploration update indicates its Phase 2 drilling at exclusive prospecting license 7345 (EPL 7345) has encountered several 100-metre-wide pegmatites (rocks containing lithium minerals), as identified in the drill chips.

Ongoing mapping of the project’s other major tenement, EPL8535, has also indicated future drill targets, along with other follow-up drilling activities identified by the first two drilling phases.

Johan Lambrechts, Askari’s VP of exploration and geology, said the assay results are eagerly awaited and emphasised the team’s “excitement” at the discoveries so far.

“We are busy planning subsequent drill phases for the project, which will include the first diamond drilling on the tenure,” he said.

“The Company looks forward to updating our shareholders as our exploration activities continue."

The successful Phase 2 drilling campaign uncovered the following lithium-bearing minerals:

  • Visible spodumene across 25 holes

  • 283 intervals containing visible polylithionite across 15 holes

  • Lepidolite - a lithium-bearing mica - on five occasions across three drill holes

  • Petalite, amblygonite and hiddenite in 22 intervals across seven drill holes.

Next steps

  • Mapping of EPL 8535 is expected to be completed during June 2023 and will help inform the next phase of RC drilling based on identified targets

  • Additional mapping on EPL 7345 will be carried out based on the latest reverse circulation drilling results.

  • Planning for the first diamond drilling campaign at the Uis Lithium Project is currently being finalised, with the drill rig expected to be onsite at EPL 7345 in the coming weeks.

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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.

Written By

Glenn Freeman

Content Editor

Glenn is a Content Editor at Livewire Markets and Market Index. Glenn has almost 20 years’ experience in financial services writing and editing. Glenn’s journalistic experience also spans energy and automotive, in both Australia and abroad – including the Middle East – where he edited an oil and gas publication in the United Arab Emirates.

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