MetalsGrove hits lithium in soil samples at WA project ahead of November drill run

Mon 07 Nov 22, 12:51pm (AEDT)
A man in hiking boots rests on a rocky outcrop in an unknown location in outback WA
Source: iStock

Key Points

  • Soil samples have been assayed from MetalsGrove’s Upper Coondina project in WA
  • Results show 0.06% lithium; 0.01% tantalum
  • Results might not be jaw dropping, but, lithium in soil confirms prospectivity of larger known pegmatite system

MetalsGrove Mining (ASX:MGA) has today boosted its own confidence, and that of its shareholders, in the company’s WA-based Upper Coondina lithium project; with new soil sample assay results confirming the presence of lithium. 

While grades logged in the soil samples are broken down into parts per million (concentrations are under 1%,) the confirmation of lithium and tantalum in surface samples confirms the prospectivity of the acreage. 

Around 2,500 samples were collected earlier this year and build on perceptions broad pegmatite mineralisation is present underground.

MetalsGrove fieldworkers earlier this year confirmed the presence of a pegmatite system present in the tenement which are slated for drilling before the year is through. 

Known pegmatites the real people pleaser 

The initial priority target of upcoming drilling will be the Chola prospect, a pegmatite corridor around 4km x 2km in size. Chola is located in the southeastern corner of the project tenement, E45/5952. 

MetalsGrove its hopeful it can replicate the discoveries of Global Lithium (ASX:GL1) and Pilbara Minerals (ASX:PLS) in its own upcoming drill run, given that both competitors have acreage nearby. 

MetalsGrove considers its acreage as overlying “the Pilbara lithium field.” Its exploration team predict there are “two generations of pegmatite” to be exploited. 

Drilling set to kick off before December 

“All necessary approvals have now been finalised and we are aiming to have the drill rig spinning in late November to test this suite of initial targets as we finish the calendar year with momentum,” MetalsGrove MD Sean Sivasamy said. 

“We are delighted with the assay results from our pre-drilling soil sampling which has confirmed the high-grade lithium potential of Upper Coondina.”

“Our technical team has also used this data to refine our priority drill targets starting with the Chola Prospect which is shaping up to be an exciting structure.”

A look at MetalsGrove's three month charts
A look at MetalsGrove's three month charts
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. MetalsGrove 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.


Related Tags

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.

Get the latest news and insights direct to your inbox

Subscribe free