Okapi Resources Limited has generated a lithium target of 2 kilometres at its Lake Johnston Project in Western Australia.
Assays returned from Okapi’s recent soil sampling program on its 100%-owned tenement E63/2039 have not only uncovered the substantial lithium target, but also several gold anomalies.
“At this early stage of exploration on the project, we are very pleased to be receiving encouraging results for both gold and lithium,” Okapi’s executive director David Nour said.
“We will be looking to fast-track exploration by confirming the on-ground expression of the structures and pegmatites hosting these metals and working towards receiving the necessary clearances as soon as possible to drill these targets.”
Lithium target compares well to Charger
Okapi’s new lithium target comes after the company reported lithium in soil results up to 86 parts per million (ppm), which compares well to nearby results delivered by Charger Metals NL.
Charger listed in July this year and has been up as high as 252% post listing. Part of the momentum is due to the soil geochemistry results, which have indicated a new lithium target at Lake Johnston.
Soil geochemistry work is generally the first activity conducted in a new area and is often the first step in investigating a new prospect.
The Lake Johnston region attracted attention after Kidman Resources Ltd (ASX:KDR) discovered the Grey/Mt Holland lithium deposit, which is now being developed by Wesfarmers Ltd (ASX:WES) and SQM.
This is believed to be one of the biggest undeveloped hard-rock lithium projects in Australia.
Ore Reserves for the Earl Grey Deposit are estimated at 94.2 million tonnes (Mt) at 1.5% lithium oxide.
While it is early days for Okapi, it seems to be moving in the right direction.
Okapi’s tenement in the central Lake Johnston Greenstone Belt, hosts the Maggie Hays and Emily Ann underground nickel mines.
Tenement E63/2039 is located about 450 kilometres east of Perth and lies adjacent to Okapi’s Mount Day Joint Venture Project (Farm- in to earn 75%) in the Lake Johnston Greenstone Belt.
Okapi’s program comprised 664 samples on a 200 metres x 50 metres grid, to infill and complement historical results.
A strong lithium target has been generated from the soil program, with anomalous results recorded in lithium, caesium and rubidium. These metals are typically associated with lithium-bearing (LCT) pegmatites.
Mapping undertaken during the soil program recorded several pegmatites in the zones of LCT mineralisation. The extent of these pegmatites will be confirmed shortly with more detailed mapping and sampling to be conducted, with a view to finalising drilling positions.
There’s gold trends
The soil sampling program also confirmed the extension of a historically reported anomalism that extends over 5 kilometres on tenement E63/2039.
The anomalism is along interpreted structures that lie under shallow soil cover, with few linked to the historic Maggie Hays Hill gold workings. Most of the currently identified anomalous gold trends are yet to be tested by drilling.
These results reinforce the presence of elevated gold-in-soil anomalism.
The anomalies lay north-west along strike from gold targets on the adjoining tenement E63/1903.
The recent work has confirmed the presence and tenor of gold-in-soil anomalism over nearly 15 kilometres of strike length on the project tenements. The gold anomalism is open to the north, past the end of the soil sampling program.