Lithium juniors: Exploration updates from high-flying Askari, Essential Metals and Global Lithium
Askari hits fertile pegmatite zones, timeline update from Essential, Global Lithium starts drilling
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KEY POINTS
- Askari hits a potentially significant lithium formation
- Essential Metals sets expectations for the next 3-6 months
- Global Lithium commences drilling at the Manna Lithium Project in WA
Three high-profile ASX lithium juniors provide updates about exploration results and what to expect moving forward.
Askari Metals: Hits fertile pegmatite zones
A Phase II detailed rock sampling campaign at the Barrow Creek Lithium Project in the NT has validated a potentially significant mineralised lithium-cesium-tantalum (LCT) formation.
The Phase II program was focused on areas that had already been identified as having lithium potential and increasing the sample density in that area and surrounding areas.
The results will support the design of a follow-up exploration campaign, including inaugural RC drilling of potential pegmatites beneath shallow cover.
Askari Metals (ASX: AS2) management are expecting a strong flow of results from complete exploration activities from various projects.
Barrow Creek still has one batch of results pending, which should further support future drilling activities.
Askari share price chart
Essential Metals: Resource expansion underway
The Pioneer Dome Lithium Project has done most of the heavy lifting for Essential Metals (ASX: ESS) and its massive 180% year-to-date re-rate.
Today’s update provides investors with better visibility about the company’s near-term exploration timeline, including:
9,000m resource extension drilling program commenced in mid-May
Diamond rig expected to arrive on site in June
Assays from March quarter drill program are delayed
Now expected by mid-June
Metallurgical test work to commence after assay results
Expected to take up to 12 weeks
Management views the extension drill program and upcoming metallurgical test work to have the potential to “rapidly transform Essential from lithium explorer to developer.”
If Essential can align the pieces correctly, the company expects to commence a scoping study in the December quarter.
Essential Metals share price chart
Global Lithium: Kicks of drilling at Manna
Initial RC drilling has commenced at the Manna Lithium Project in WA. Global Lithium (ASX: GL1) expects a diamond drilling rig to join the program in June, to target lithium-cesium-tantalum (LCT) bearing pegmatites at depth.
Management said the results of the Manna drilling program will be incorporated into an updated Mineral Resources, expected later this year.
Elsewhere, the company’s Marble Bar Lithium Project is also progressing drilling activities, with 53% of its 60,000m program completed to date.
Global Lithium share price chart
