Shree (ASX:SHH) uncovers pegmatite at historical work sites at Dundas, shares jump - Kalkine Media

Highlights

• Shree Minerals has identified pegmatite drill chips at historical work sites within the Dundas Project.
• The samples collected of the spoil will be assayed for lithium, the pathfinders Cs and Ta and REEs.
• A cultural heritage survey was completed within southern part of E63/2046 in October 2022.
• Shree plans to commence aircore and auger drilling across the project after receiving approval for a submitted POW.

Shree Minerals Ltd (ASX:SHH) shares were trading at AU$0.008 each, up 14.285%, on the ASX, in the early hours of 20 October 2022. The surge in the share price of Shree Minerals followed the company’s latest announcement about geological mapping confirming pegmatite at its Dundas Project.

In the ASX release, the company revealed that mapping conducted in October has identified the old aircore drilling spoil from 10 holes from the Pan Aust Exploration drilling program in 1998. Despite the sample piles being eroded and covered by heavy vegetation regrowth over time, sample chips were readily identified and collected for sampling.

Notably, three holes containing pegmatite chips have been identified during mapping.  

Cultural Heritage Survey
The members of the Ngadju Native Title Aboriginal Corporation (NNTAC) conducted a cultural heritage survey over the company’s exploration tenements in the first half of this month as planned in southern portion of E63/2046 and E63/2048.

While the survey was completed in E63/2046 within the scheduled survey time, the remaining survey is yet to be completed. Shree will connect with NNTAC to resume and complete the E63/2048 survey at the earliest.

Image Source: Company Announcement

Shree plans aircore and auger drilling at Dundas

Shree will begin aircore drilling over selected gold (Au), lithium (Li) and rare earth element (REE) targets, once the submitted program of work (POW) is approved. Aircore drilling is warranted around and along strike of historical drillholes with recorded pegmatite and gold intervals. Also, reverse circulation (RC) drilling will be performed to test anomalous Au, REE and Li pathfinder geochemistry.

Infill auger drilling is planned over the historical gold geochemical targets within E63/2048, after Shree concludes the heritage survey in E63/2048 and receives approval of the submitted POW.

During auger drilling, the company plans to target a buried carbonate layer. Shree states that this layer has been a successful sample medium in defining gold mineralisation in the Dundas Goldfield and elsewhere in the Western Australian region.

The company plans to get samples assayed for gold, nickel, base metals, REEs and lithium pathfinder elements. After which, RC drilling is planned to test anomalous auger geochemistry.

Shree will prep up and hold discussions with the Department of Biodiversity Conservation and Attractions (DBCA) to finalise a second CMP for

• the subsequent stage of exploration being RC and diamond drilling for areas approved in first CMP and undergoing fieldwork in 2022-23
• pegmatite intersections identified in northern areas of E63/2046
• exploration plans for ELA, E63/2136 and ELA, E63/2227