Minerals 260 Limited (ASX:MI6) has unearthed a new five km-long, continuous lithium trend through regional and in-fill soil sampling at the Pyramid Hill prospect at the 100%-owned Aston Project, located in the Gascoyne Province, WA.
The company said it has received encouraging new results from additional geochemical and geophysical surveys at the Aston and Moora/Koojan Projects.
Aston Project
The Aston Project is located approximately 230km east of Carnarvon and 850km north of Perth in the Gascoyne Province of Western Australia.
The Gascoyne Province has been explored historically for gold, base metals, tungsten, and uranium; however, recent exploration by neighbouring tenement holders has highlighted the region’s prospectivity for both hard rock hosted lithium (spodumene) and Rare Earth Element (REE) deposits. Recent discoveries include Delta Lithium’s Malinda and Jamesons lithium deposits and Dreadnought Resources’ REE discoveries.
The stratigraphy that hosts the Malinda and Jamesons prospects is interpreted to trend through the northern part of the Aston Project and recent soil sampling by Minerals 260 has defined strong lithium anomalism coincident with this trend.
Results for the latest soil sampling have now defined strong lithium (>100ppm Li2O), tantalum and rubidium anomalism on the Pyramid Hill tenement, located in the south-western part of the Project area. Sampling has defined three strong lithium anomalies including the linear, five km long, continuous trend.
Limited rock chip sampling has recorded highly anomalous lithium (up to 0.12% Li2O), rubidium (up to 3,405ppm) and tantalum (up to 95ppm Ta2O5) on the margins of the soil anomalies, indicating potential LCT- type pegmatites. Potassium-rubidium (K/Rb) ratios of <30 also suggest prospectivity for lithium mineralisation.
Additional rock chip sampling focussing across the high points of the soil anomalies has also been completed, with assays pending.
Furthermore, the latest assay data have returned highly anomalous REE results (>1,000ppm TREO) from multiple locations within the Project which require further investigation including in-fill sampling.
Field reconnaissance and surface sampling will continue across the Project, following up recent assay results in addition to newly identified targets from recent high-resolution airborne aeromagnetic and radiometric surveys.
Moora and Koojan Projects
The 100%-owned Moora Project, which is located ~150km north-east of Perth in the Julimar Mineral Province of SW Western Australia, forms part of a contiguous, 1,000 sq. km land package which includes the adjacent Koojan JV, where the company is in joint venture with Lachlan Star Limited and has earned an initial 30% equity with the right to increase this to 51%.
In late-July, the company completed Dipole-Dipole Induced Polarisation (DDIP) geophysical surveys across the Mallory and ACGA prospects designed to detect possible sulphide related mineralisation beneath multi- element (Cu+Au+Ag+Co+PGE) anomalism intersected in previous drilling.
The surveys at Mallory have defined several coincident chargeable and conductive structures that may be caused by sulphides. The coincident DDIP anomalies are proximal to copper-gold-silver- cobalt anomalism intersected in drilling, with up to 1,480ppm copper, 98ppb gold, 30g/t silver and 592ppm cobalt and recorded.
The DDIP survey at Acga was abandoned due to interference from nearby farming infrastructure and powerlines.
The company is planning to drill test these anomalies in late-December/early-January when access is available post-harvest. Further DDIP surveys will be conducted in late-November/early-December over additional prospects, including Mynt, to assist with drill targeting of potentially deeper mineralisation.
