Firetail hits wide pegmatite zones in maiden drilling at Yalgoo

Fri 28 Oct 22, 11:21am (AEST)
A road stretching to the horizon in the Australian outback beneath a blue sky
Source: Unsplash

Key Points

  • Company has hit multiple pegmatites in maiden drilling at Yalgoo
  • One pegmatite was 66m wide from 9m depth

Firetail Resources (ASX:FTL) has confirmed intersecting broad zones of pegmatite mineralisation at its Yalgoo Lithium Project in the first leg of maiden drilling. 

Firetail believes it sits on a “Goldilocks zone” for lithium mineralisation reflecting some 25km of target area. A total of 49 RC holes were drilled for 1,932m as part of the Phase I campaign.

The majority of RC drillholes successfully intersected pegmatites, with the widest one being 66m from 9m down-hole, reflecting a relatively near-surface target. 

Maiden drilling focused on two priority target areas within the project envelope. All in all, there are seven areas on-site with mineralised pegmatites present. 

The company says it intersections showed evidence of multiple elements often coincident with lithium mineralisation including lepidolite, an element which is similar to spodumene but requires different downstream processing.

Steps ahead 

Assays from the completed maiden Phase I campaign are expected over the next eight to ten weeks, with soil samples from a previous program also with the laboratory. 

In the meantime, Firetail will move ahead with a regional soil sampling program as well as work on refining targets on-site the project ahead of the next phase of drilling. 

Elsewhere, the company will also begin to map the topography of its Dalgaranga Lithium Project in a fieldwork trip to be held in late November.

Never explored for lithium: Firetail

“It was great to be on site and see the start of our maiden drill campaign at Yalgoo. The entire team is focused on understanding the scale of mineralisation at the Yalgoo Lithium project,” Firetail Resources Brett Grosvenor said. 

“The Firetail team is very pleased to have completed its much-anticipated maiden drilling campaign.” 

“We look forward to updating our shareholders once further information is available.”

Firetail's three month charts


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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