Xantippe Resources Ltd (ASX:XTC, OTC:XTCPF) is set to start its maiden drilling program for lithium pegmatites at the Southern Cross Project in the Yilgarn Goldfield in Western Australia.
Drilling will start this week on lithium pegmatite targets on Exploration Lease E77/2609, which is 100% owned by the company.
The tenement is in the southern part of the Southern Cross Project, about 25 kilometres south of Marvel Loch and is believed to host lithium-bearing pegmatites which have been inferred from the drilling conducted on the south and west side of the tenement boundaries by Zenith Minerals Limited.
Location map.
Zenith has intercepted lithium-bearing pegmatites within 100 metres of XTC’s tenement boundary and the pegmatites are interpreted to continue north onto E77/2609 and may continue for several hundred metres.
Program of Works
Xantippe will target the large, flat-lying pegmatites with reverse circulation (RC) drilling. The targets are around 150-250 metres below surface.
A Program of Works (PoW) has been approved for the drilling and the company is preparing to drill and complete the program this month.
The PoW comprises four RC holes for a total of 1,080 metres to be drilled.
The proximity of recent drilling on neighbouring leases has led Xantippe to believe there is a strong likelihood for the lithium-bearing pegmatites to continue onto the lease. The initial round of drilling will aim to confirm this.
Gravity and magnetic imagery is also being used for the drill location planning and interpretation of the inferred pegmatite.
Confirmation of lithium-bearing pegmatites within the Xantippe’s lease boundaries will pave the way for more drill programs and additional groundwork to test the full extent of the pegmatite(s) and if additional prospective areas exist within the lease which covers about 790 hectares.
“The company is looking forward to the results of its first lithium drilling program at its large strategic greenstone belt land position in Southern Cross given the heightened global level of interest in lithium and the lithium-bearing discoveries in neighbouring areas,” Xantippe executive chairman John Featherby said.
About the Southern Cross Project
The Southern Cross Project is 380 kilometres east of Perth, southeast of Southern Cross.
The project comprises 16 Prospecting Licences and seven Exploration Licences with a combined area of 197 square kilometres over mostly contiguous tenements covering more than 40 kilometres of strike of the Southern Cross Greenstone Belt, which has historically produced around 15 million ounces of gold, predominantly from the Marvel Loch and Southern Cross centres, both of which are in operation to varying extents.
The project area is serviced by sealed roads, grid power, scheme water, rail and town amenities. Minjar operates the Marvel Loch plant nearby and Ramelius Resources operates the Edna May facility 60 kilometres to the west.