Manganese explorer Accelerate Resources (ASX:AX8) has expanded its lithium exploration footprint following an application for 4 new tenements within the ‘prospective’ East Pilbara region of Western Australia.
The company says if granted, these tenements will position its wholly owned East Pilbara Lithium Project adjacent to Global Lithium Resources’ (ASX:GL1) Archer deposit (18 million tonnes @ 1% LiO2) and add an additional 395km-square to the project.
Accelerate reports these latest applications bring its total lithium prospective tenure under application to 800km-square, although 2 of the applications are subject to competing applications by other companies, with final ownership to be decided by ballot.
The company notes it has identified targets across these new tenements through the same exploration model applied by Global Lithium at Archer.
With these new tenements now under application, Accelerate Resources announces initial mapping and rock chip sampling of pegmatites has recently been completed, with assays pending.
During this waiting period, Accelerate will complete further evaluation and target generation over the new applications, including fieldwork and the analysis of satellite imagery, geophysical data, and historical exploration results.
It is the company’s hope to undertake a more intensive investigation of the lithium exploration targets at the earliest opportunity.
Speaking on the expansion, Accelerate Resources Managing Director Yaxi Zhan says: “Accelerate’s East Pilbara Lithium project, strategically positioned just 30 km southeast of Global Lithium Resources’ (ASX:GL1) Archer deposit, holds promise for delivering positive lithium exploration results. Our recent application for four new tenement applications has expanded our exploration project area to over 800km-square, unlocking geological potential akin to the large Archer Lithium Deposit.
“Accelerate’s East Pilbara Lithium project … holds promise for delivering positive lithium exploration results“
Utilising the same proven exploration model employed for the Archer Deposit, we have successfully identified potential lithium targets in these new areas, which is an exciting development. Our initial ground-based mapping and sampling program targeting potential lithium, tin and tantalite mineralisation has been completed, and we eagerly await the imminent results in the coming weeks.”
Accelerate Resources is a developer of manganese projects with the goal of becoming the next Australian manganese producer, supplying ‘high-grade’ manganese to the steel and electric vehicle (EV) industries.
The company’s East Pilbara Lithium Project is located about 200km east of Port Hedland and 30km east-southeast of the township of Marble Bar in the East Pilbara region of Western Australia. It is considered prospective for lithium mineralisation.
Accelerate Resources had $2.5 million cash at hand at the end of March, as stated in its quarterly report released on 27 April 2023.
Write to Adam Drought at Mining.com.au
Images: Accelerate Resources Ltd
