Askari Metals Limited (ASX: AS2) has entered into a binding acquisition agreement with Raiden Resources Limited to acquire 100% of the Myrnas Hill Lithium Project (E45/4907), located in the highly prospective Pilbara region of Western Australia.
The Myrnas Hill Lithium Project is considered highly prospective for Lithium-Tin-Tantalum (Li + Sn + Ta) mineralisation.
The acquisition of the Myrnas Hill Lithium Project bolsters the Company’s presence in the Pilbara region of Western Australia,” Executive Director, Gino D’Anna, said.
“Sitting exclusively within the LCT Pegmatite ‘Goldilocks Zone’, the Myrnas Hill project is considered highly prospective for lithium pegmatite mineralisation.
“Exploration success by others around the Myrnas Hill project has demonstrated the fertility of this project area and we are very excited by the opportunity to commence exploration immediately.
“Myrnas Hill is highly complementary to our district-scale Yarrie Lithium Project, and we see this as a terrific opportunity to expand our footprint in areas that have a high chance of exploration success. The Pilbara region in Western Australia hosts the some of the world’s largest and highest grade hard-rock lithium projects and has developed a reputation for being the leading jurisdiction for hard-rock lithium exploration, development and production.
“The Myrnas Hill Lithium Project is situated in between the DOM’s Hill Lithium Project which is a JV between Kalamazoo Resources and Chilean-based mining giant SQM and the Pear Creek Lithium Project which is owned by Kalamazoo Resources. Myrnas Hill is also located less than 30km north-west of the Global Lithium Resources’ Archer Lithium deposit and within 50km of the giant Pilgangoora and Wodgina Lithium mines.”
Geology and Mineralisation
The Myrnas Hill Lithium Project is situated in the east Pilbara Granite-Greenstone Terrane. The predominant rock type in the tenement area is Archean Granite with varying amounts of late-stage pegmatite fractionates.
In the Pilbara region, late-stage granites may be highly fractionated and act as the source for intrusion of rare metal pegmatites into the surrounding stratigraphy. These pegmatites may include spodumene bearing systems, as well as tin and tantalum mineralisation. These are the targeted minerals as well as the potential for Gold.
Granites of the Yule granitoid complex are dated between 2927 Ma. and the formation of the Fortescue group at 2719 Ma. (Smithies, 2002). These younger granites are key targets as source rocks in exploration for LCT (Lithium-Caesium-Tantalum) pegmatites.
There are no active or historic lithium mines within the tenement area, however there are extensive tintantalum-lithium workings located south of the Myrnas Hill Lithium Project on the eastern bank of Beabea Creek (historic White Springs alluvial workings) and extensive alluvial sampling was undertaken by Bamboo Creek Gold.
Planned Exploration
A data review aimed at informing exploration planning activities for the area will commence shortly. Initial review identified the potential for rock and soil geochemical surveys in certain areas, as well as the use of Sentinel satellite imagery to delineate target indicator minerals. Field based activities are planned to commence upon completion of the review.