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Highlights
- 11.55m spodumene-bearing pegmatite discovered at Ragnar's Orrvik Project.
- High-grade lithium, tantalum, and tin mineralisation confirmed.
- Potential for further pegmatite extensions and exploration targets.
Ragnar Metals Ltd (ASX:RAG) has reported an exciting new discovery at its Orrvik lithium project in Sweden, where an 11.55-metre spodumene-bearing pegmatite has been identified. This pegmatite is rich in lithium, tantalum, and tin, offering significant mineralisation potential and opening up new opportunities for further exploration in the region.
The channel sampling conducted at the site has revealed promising results, with lithium oxide (Li2O) grading up to 1.45%. Additionally, tantalum pentoxide (Ta2O5) has been recorded at 74 parts per million (ppm), while tin oxide (SnO2) grades have reached 0.03%. Particularly noteworthy within this interval is a high-grade zone of 3 metres, boasting 3.11% Li2O, 48 ppm Ta2O5, and 0.04% SnO2. These high-grade results point to the potential for valuable resource extraction in the future.
One of the most promising aspects of this discovery is the potential for further mineralisation in the area. The southern contact of the pegmatite remains concealed, suggesting that the structure could widen and offer additional mineralisation. This discovery, combined with previous resistivity imaging of the area, reinforces Orrvik as a valuable exploration target. The project is thought to contain a swarm of multiple-stacked pegmatite dykes, which enhances its attractiveness for further drilling.
Ragnar Metals' executive director, Eddie King, expressed enthusiasm about the discovery and its implications for future exploration. He pointed out that the significant widths of high-grade spodumene-bearing pegmatites at Orrvik highlight the potential scale of the project. King also mentioned the company’s focus on investigating the regional land package for additional pegmatite swarms, which could further enhance the project's overall value.
This discovery marks an important milestone for Ragnar Metals, as it lays the groundwork for further exploration efforts. The company is now assessing the potential to expand the project and define additional targets for drilling. According to King, the findings represent a clear and promising drill target, with plans for the company's maiden drilling program at Orrvik already in motion. Ragnar Metals intends to provide updates on these activities as exploration progresses.
As of now, Ragnar Metals continues to trade flat at 2.0 cents, but with the recent discovery, expectations for further advancements in exploration and drilling are high. The Orrvik project is emerging as a strong prospect for the company, with potential for significant resource development as exploration continues in this promising region of Sweden.
