- Recent geochemistry and aeromagnetic programs suggest multiple swarms of LCT pegmatites on the Bynoe Lithium Project.
- The LCT pegmatites extend from the adjacent Finniss Lithium Project (owned by Core Lithium) into the Bynoe Lithium Project.
- The results offer an exploration roadmap, enabling prioritisation of the most significant drill-ready targets while identifying areas that need further infill soil sampling and mapping.
- Planning and permitting is advancing to undertake the maiden drill program at the Bynoe Lithium Project.
Lithium Australia NL (ASX:LIT) has welcomed an upbeat update on its Bynoe Lithium Project in the Northern Territory by joint venture partner Charger Metals NL (ASX:CHR). Latest exploration surveys have suggested a large lithium-mineralised system at the project.
The Bynoe Project is 30% owned by Lithium Australia while the remaining interest is held by Charger Metals NL (ASX: CHR). Lithium Australia is also a substantial shareholder (19%) of CHR.
Triggered by the update, LIT shares jumped 4% to trade at AU$0.13 on 17 January 2022.
Soil geochemistry program delivers significant results
Recent geochemistry and aeromagnetic programs undertaken on the project, together with drilling information recently announced by Core Lithium Ltd (ASX:CXO), suggest multiple swarms of lithium-caesium-tantalum (LCT) pegmatites that extend from the adjacent Finniss Lithium Project into the Bynoe Lithium Project.
The assay results of the 2021 soil geochemistry program, which generated around 3,000 samples, have been merged along with the pre-existing data and interim comments received from the consultant geochemist.
The results suggest that pegmatite swarms have been emplaced within two large zones - Megabucks Zone and 7-Up Zone.
Source: CHR Update, dated 17 January 2022
- The Megabucks Zone - It is approximately 8km long and up to 4km wide. The zone hosts numerous pegmatites including Jenna’s, Megabucks, Neil’s, and Enterprise. Most of the Megabucks Zone has been sampled on a 200m x 50m grid.
- The 7-Up Zone- It has a strike length of 3.5 kilometres and includes the continuous, linear, 1.5km long 7-Up lithium-caesium anomaly within a broader 5km x 2km zone. Soil geochemistry within the 7-Up Zone is on a 400m x 50m pattern.
Drill-ready lithium targets have been identified within each pegmatite zone and consists of Megabucks, Jenna’s, Enterprise 1, Enterprise 2, Riverside, and 7-Up pegmatites. Despite the different soil geochemistry signature of each lithium anomaly, all are generally multi-elemental in nature.
Coincident elements consist of all or some of beryllium, tin, caesium, and rubidium. Notably, these are classic element associations of lithium endowed LCT pegmatites.
Relevant insights from Core Lithium’s Finniss Project exploration
Core Lithium’s recent announcement concerning its Finniss Lithium Project could further suggests the potential for lithium system at the Bynoe Lithium Project.
The aeromagnetic survey imagery on the Bynoe Lithium Project indicates the recently intersected high-grade spodumene mineralisation at Core Lithium’s Ah Hoy prospect, which is located 3km northeast along trend from the 7-Up prospect.
Moreover, the recent drilling by Core Lithium also intersected lithium fertile LCT pegmatites at Centurion, which is located 600m southwest along trend from the Enterprise 1 Prospect on the Bynoe Project.
The partners are advancing with planning and permitting for the maiden drill program at the Bynoe Project. Priority targets, such as those at Megabucks, 7-Up pegmatites, Jenna’s, and Enterprise are being prepared for drilling following the Northern Territory wet season.