The next round of applications for drilling approvals will be lodged in February with drilling to recommence thereafter.
The Mt Holland Lithium Project is located adjacent to Earl Grey, one of the most significant hard rock lithium deposits in the world jointly owned by multi-billion dollar Sociedad Quimica y Minera de Chile (NYSE:SQM) and Kidman Resources Ltd (ASX:KDR).
Hannans’ exploration goal at Mt Holland is to discover a lithium deposit comparable to Earl Grey.
Mt Holland East drilling
Hannans completed its first phase of reconnaissance drilling across ten structural targets at Mt Holland East.
The program comprised 169 aircore holes for a total of 5,400 metres of drilling covering an area of 250 square kilometres.
Hannans’ Forrestania/Mt Holland Projects and other major lithium mines and projects in southwest Western Australia
In two locations along the western drill traverses there are elevated lithium results (relative to background) that occur in saprolitic material.
Furthermore, there were corresponding elevated levels of lithium pegmatite associated elements including caesium, bismuth, beryllium, tantalum and tungsten.
Whether this anomalous geochemistry is indicative of nearby lithium-bearing pegmatites, or simply related to variations in the geochemistry of the granitoids is undetermined.
Areas surrounding these locations with elevated geochemistry will be investigated further to locate pegmatites within proximity
Reconnaissance field work will take place later this month on tenement E77/2460 located 18 kilometres south of Earl Grey.
The field work will confirm the geology and check the potential for any pegmatites at surface.
Geochemical and geological follow up will proceed if justified using air core drilling on widely spaced lines.