Australasian Metals (ASX: A8G) concludes reconnaissance diamond drilling at Mount Peake Lithium Project - Kalkine Media

Highlights

• A8G has conducted the very first diamond drilling program in the North Arunta pegmatite province.
• The reconnaissance diamond drilling campaign entailed three holes at the Mount Peake lithium project.
• The MPDD001 hole hit granulite and amphibolite throughout the depth of the hole, with calc-silicate alteration observed for nearly 30m at the bottom.
• In MPDD002 and MPDD003 holes, several pegmatite dykes were intersected.

Australasian Metals Limited (ASX: A8G) has concluded reconnaissance diamond drilling at the Mount Peake Lithium Project, the Northern Territory. The drilling program comprised three drill holes covering ~600m.

The development followed a grant of AU$95,185 under the Resource the Territory initiative, which is administered by the Northern Territory Geological Survey.

Details of the drilling program

The Hole MPDD001 was aimed at evaluating a soil geochemical anomaly along the southeast trend from Core Lithium’s ground – EL26848. Within EL26848, six samples returned more than 1% Li₂O with up to 4.78% Li₂O and spodumene occurring at the surface at the Anningie Tin Field.

The hole intercepted granulite and amphibolite throughout its entire depth and calc-silicate alteration observed in these mafic rocks for around 30m at the bottom.

The two holes MPDD002 and MPDD003 were aimed at testing the geological zone below previously identified lithium-bearing pegmatite outcrops JC001 and MP10127 with 1.61% Li₂O and 225 ppm Ta; and 1.15% Li₂O & 223 ppm respectively.

Both drillholes, encountered several pegmatite dykes with mineralogy being dominated by quartz, feldspar, muscovite, epidote, and tourmaline.

MPDD002 hole intersected meta-psammites and meta-pellites as the host rock for a depth of 198.7 metres. Numerous pegmatites in the range of 30cm to a little over three metres in width were intersected. The pegmatites included feldspar, quartz, muscovite and tourmaline which had grain size in the range of fine (<10mm) to medium (up to 100mm).

In hole MPDD003, the host rock was granite from surface to nearly 122m. Pegmatites, observed in granite and meta-sediments. and were less than 1m in width. However, in some exceptions, the width was 2.8m.

Data source: Company update

Pegmatites consisted of feldspar, quartz and muscovite with or without tourmaline with grain size in the range of fine to medium. One small section of pegmatite at 68.8m contained a greenish silicate with low levels of Li₂O.

A8G’s team is re-processing the previous geophysics and geochemical results. Better understanding of pegmatites would aid in planning future exploration activities at Mount Peake.

A8G shares traded at AU$0.11 apiece at the time of writing on 9 February 2024.