Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Kali Metals Ltd (ASK:KM1).
Kali shares rose 21% in early ASX trading following the expansion of a gold-in-soil anomaly at the Marble Bar Gold-Lithium Project in Western Australia.
Analysis of 619 historical soil samples increased the anomaly’s length by 80%, now totalling 9.5 kilometres.
Initial fieldwork has mapped less than 1 kilometre of the anomaly, identifying the Tiger and Sherman prospects. These prospects feature gold-bearing quartz veins up to 7 metres wide and 120 metres long, with surface grades reaching up to 4 g/t gold.
The company plans to resume fieldwork this quarter to ground-truth the remaining anomaly, aiming to identify and define drill targets.
Kali expressed optimism about the results, stating that gold exploration will now be the primary focus at Marble Bar, with lithium exploration remaining secondary.
At the Panther lithium prospect, trenching returned average grades of 0.14% and 0.48% lithium across two channels, pointing to additional lithium potential within the project.