Lithium Australia NL (ASX:LIT) has identified lithium pegmatite swarms at the Medcalf Prospect within its Lake Johnston Project in Western Australia.
The area known as the Yilgarn Craton hosts a number of major lithium deposits such as Early Grey, Mt Marion and Mt Catlin.
Notably, the lithium pegmatites of the Yilgarn Craton are attracting investment from some of the world’s largest lithium companies.
The approval process for a reverse circulation (RC) drilling campaign is set to commence with drilling expected to begin in the December quarter of 2019.
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Lithium Australia’s managing director Adrian Griffin said: “The nearby Earl Grey deposit shows the potential the area has to deliver major opportunities.
“Medcalf is no exception as there is a good probability of finding mineralization beyond that outlined in outcrop to date.
“Indeed, the high tenor of the soil anomalies strongly suggests there in more to come in the immediate vicinity.”
Rock chip samples collected in 2018 assayed up to 7.15% lithium oxide.
Exploration Target estimated
From the recently completed field work, it is possible to estimate a conceptual Exploration Target for the dyke swarm.
This Exploration Target is a target based upon the potential quantity and quality of mineralisation present and is in the range of 5-8 million tonnes grading 08-1.2% lithium oxide.
It is proposed to drill a fence of RC drill holes across the main outcropping area of spodumene-bearing pegmatites.