Metalsgrove Mining Ltd (ASX:MGA) shares were trading 57% higher intra-day, at 17 cents, after identifying the potential for lithium pegmatite at its Upper Coondina Lithium Project in the East Pilbara district of Western Australia.
The company’s detailed surface mapping program has highlighted multiple outcropping pegmatite dykes occurring in swarms within a regional corridor extending 8 kilometres.
Pegmatite outcrop.
MetalsGrove’s initial observations suggest the pegmatites at Upper Coondina may be part of the same system that hosts the major lithium discovery announced by Global Lithium Resources Ltd (ASX:GL1) at its Archer Project to the north-east of MetalsGrove’s ground, which further underpins the strong lithium prospectivity at Upper Coondina.
MetalsGrove managing director Sean Sivasamy said: “We are delighted with the initial outcomes from our detailed surface mapping program at Upper Coondina which has confirmed several outcropping pegmatite dykes.
“Given this project has never been systematically explored for lithium, we continue to be highly encouraged by these early works.
“Importantly, data obtained from the mapping program, and other pre-drilling works completed at site, will be used to develop priority drill targets ahead of planned maiden drill program in Q4.
“Exploration is continuing apace across our critical metals projects in WA and the NT and we look forward to providing regular updates on progress.”
Surface field mapping program
The Upper Coondina Lithium Project covers crystalline rocks of Archaean age in which pegmatites are known to contain tin/tantalite and lithium.
MetalsGrove’s recently completed surface field mapping program covered only the southern half of the project area, with the remaining part of the project area to be mapped in the coming months.
Surface field mapping confirmed numerous outcropping pegmatite dykes occurring in swarms and varying in width from 3m to 30m.
30-metre wide pegmatite outcrop.
Additionally, 45 rock chip samples were collected during the field mapping from pegmatite outcrops that were over 3m wide.
The outcropping pegmatite swarms extend for over 8km within the Upper Coondina tenement.
A detailed surface mapping interpretation is underway in preparation for the upcoming drilling program.
Geochemistry to prioritise areas at Upper Coondina
Over 2,500 soil samples were taken from the southern part of the Upper Coondina Project.
The geochemical responses that most likely represent the LCT pegmatite field, which is a 3km by 8km zone with numerous mapped pegmatite emplacements, are currently waiting for assay results.
Drilling planned
The recently completed airborne magnetic and radiometric survey will potentially allow the identification of new drilling targets and help define the strategy of the next drilling program.
Data processing and interpretation are underway.
A program of about 77 RC (reverse circulation) drill holes is proposed to test the southern part of Upper Coondina lithium project pegmatites.