Twenty Seven Co Ltd (ASX:TSC) is returning to the field for a geochemical sampling campaign over the Trident Lithium Project in Far West New South Wales.
The multi-element explorer is out to investigate a series of pegmatite anomalies that could be harbingers for lithium, tin, caesium and tantalum mineralisation.
Trident tenement — and its known lithium pegmatites — have seen very little systematic exploration and sampling over the years, but a detailed review of all the public data is underway.
It comes after TSC pinpointed a suite of new lithium and tin targets over the project last week, paving the way for further exploration over the wholly-owned asset near Broken Hill.
Understanding Trident’s geology
As the sampling program gets underway, Twenty Seven Co CEO Simon Phillips said: “We are delighted to have our team on the ground at Trident and we are looking forward to investigating several high priority lithium and tin targets with this initial sampling program.
“This program has been specifically designed to define anomalous lithium, caesium and tantalum pegmatites, along with associated pathfinder elements, within these target areas.
“Minimal historical work has been completed across this project, so this sampling program will significantly add to the geological knowledge of the greater tenement package.
“TSC has a busy pipeline of activity planned across its NSW and WA projects in the months to come and I look forward to updating our shareholders further in due course.”
Historical data tells a story
TSC uncovered last week’s lithium and tin targets after a historical data review on the Trident asset.
Specifically, the geochemical anomalies have coincidental lithium, caesium and tantalum, give or take niobium and tin, which suggest the presence of lithium-caesium-tantalum (LCT) pegmatites.
Past explorers have sampled these pegmatites, indicating lithium occurrences within amblygonite and lesser spodumene — important minerals for lithium mining.
During the program, TSC analysed a series of historical rock chip samples, with one from the Triumph Mine prospect returning as much as 7.63% lithium oxide.
Other targets returned:
- Lady Don Mine: 4.45% lithium oxide;
- Trident Mine: 3.88%;
- Sceptre Mine: 1.56%; and
- Esams No.2 Mine: 1.05%.
It’s enough to warrant a return to the field and a modern geochemical sampling program, which will take around a fortnight to complete.
Next on the agenda
Once the samples come in, TSC will take a beat to analyse the results and work out its next steps.
Outside of New South Wales, the multi-element explorer is readying for a drilling campaign over its Rover Project in WA.
The exploration program will turn the soil on some of the gold and copper asset’s key anomalies, while a geochemical sampling program begins over its Edale shear.
Lithium boom
Twenty Seven Co's hunt for lithium comes as the battery metal attracts growing demand amid the rise of electric vehicles.
A 2018 report from McKinsey indicates that lithium demand could surge as much as 318% between 2017 and 2025.
A pricing surge for lithium is particularly evident in China.
Over the first two weeks of September, technical and battery-grade lithium carbonate prices increased by more than 20%.
They're now up 188.9% and 215%, respectively, in the Chinese domestic market for the year.