Silver City Minerals Ltd (ASX:SCI) has identified lithium from an initial sampling program at the Waukeroo tin field in the world-class mineral province of Broken Hill in New South Wales.
Of the 900 samples assayed to date, lithium grades of up to 319 ppm have been recorded.
The program is designed to discover lithium-bearing minerals such as spodumene and amblygonite with the view to assessing potential lithium resources.
An unexpected consequence of the pegmatite sampling program has been the delineation of a large lead anomaly within Silver City’s tenements.
Silver City has a focus on the Broken Hill and Cobar regions of Australia, both infrastructure rich productive mining camps.
It has a large 1,200 square kilometre tenement position in the Broken Hill region where it is exploring predominantly for lithium and zinc.
Cobar represents a new opportunity for Silver City as it farms into copper and gold exploration ground.
Silver City recently defined a new drill target at its Wilga Downs joint venture project located in western New South Wales.
The target is an electromagnetic conductor that shows similarities to conductors which led to Aeris Resources Ltd’s (ASX:AIS) Tritton copper-gold deposit and Peel Mining Ltd’s (ASX:PEX) more recent Mallee Bull copper-gold discovery.
Drilling at Wilga Downs is scheduled to commence within two weeks.
Silver City’s share price is up 110% year to date, trading at $0.036.
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