DMC Mining (ASX:DMM) has wrapped up exploration at its Talon Ridge lithium project near IGO’s Nova mine in the Goldfields region of Western Australia after finding what might be pegmatites in additional outcrop zones.
The company has been taking its first proper look at lithium at its wholly owned Talon Ridge project which forms part of its Fraser Range projects near IGO’s Nova operation.
IGO’s Nova mine on the Fraser Range opened six years ago and produced 22,915 tonnes of nickel, 10,266 tonnes of copper and 803 tonnes of cobalt last financial year at a cash cost of $3.54 a pound Ni (payable).
DMC Mining’s Talon Ridge is also on Fraser Range and covers a 27.5-kilometre anomalous lithium zone within a pegmatite trap defined by the Geological Service of Western Australia.
DMC Executive Chairman David Sumich said the company was encouraged by its Fraser Range discovery.
We are encouraged by the discovery of outcropping areas within our tenements, indicating likely pegmatites upon viewing,” Sumich said.
“This finding was unexpected given the purpose of the sampling program and the very limited areas that were visited throughout the 27.5km lithium zone.”
Geochemical soil sampling results and rockchip results from the outcrop zones are expected later this month.
