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Metals Australia hits lithium at WA Manindi project

Tue 19 Jul 22, 10:12am (AEST)
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Key Points

  • Metals Australia’s recent RC drill run proved lithium mineralisation on-site
  • Recent drilling targeted geology underlying foundation pegmatite
  • All new holes returned proof of lithium and rubidium

Metals Australia (ASX:MLS) has confirmed more lithium mineralisation exists beneath known deposits on-site the company’s WA Manindi project. 

A fresh batch of RC drilling results were revealed by the company today. 

Included in today’s results is a 13 metre long section of core boasting a mineralised lithium density of 1.03%.

Investor advisory firm Next Investors notes projects with lithium concentrations in cores over 1% total density are considered high-grade.

Cores retrieved from the foundation pegmatite at Manindi
Cores retrieved from the foundation pegmatite at Manindi

Mineralised zones at Manindi extended 

The assay results today effectively extend the mineralisation on-site to over 120m of vertical depth. 

The company is continuing to ascertain growth to the width of deposits. 

More drilling will target lithium at depth on-site ahead of a maiden JORC mineral resource estimate, which will boost bankability of the project.

Chairman encouraged 

Metals Australia Chairman Mike Scivolo noted previous success at Manindi in discussing today’s results. 

“Manindi continues to grow in scope and we now have the opportunity to carry out testwork prior to further drilling and resource estimation,” Scivolo said. 

“We have [also] intersected significant mineralisation at the Bandicoot pegmatite, extending the corridor of significant lithium intersections to over 2 kilometres.” 

A map locating the foundation pegmatite area on-site Manindi
A map locating the foundation pegmatite area on-site Manindi
Metals Australia was a Market Index client at the time of publishing. All coverage contains factual information only and should not be interpreted as opinion of 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. Email Jon at [email protected].

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