Askari Metals (ASX:AS2) has uncovered lithium mineralisation through an initial reconnaissance rock and soil sampling campaign at its Hillside Lithium Project in Western Australia.
The $17.32 million market capitalisation company plans to target these newly discovered sites through upcoming geochemical soil sampling, trenching, and high-resolution remote sensing data.
This data will be used to better refine the characteristics of the zone, with results anticipated to generate ‘high-confidence’ drill targets.
Results from the reconnaissance rock sampling campaign include 350 parts per million (ppm) lithium (Li). Meanwhile, consistent results from 25 soil samples include 76ppm Li.
Askari reports 3 ‘significant’ mineralised corridors were discovered covering a total strike length of 4.6km.
Commenting on the program, Askari Metals Vice President of Exploration and Geology Johan Lambrechts says: “This sampling campaign has expanded on initial findings from March 2023, with 3 significant mineralised corridors or zones of lithium mineralisation now identified.
The results show the zone of lithium mineralisation in Area One covers a strike length of 2.2km, whilst at Area Two and Area Three, the lithium mineralised corridor strikes 800m and 1.6km, respectively.
Rock and soil samples were collected from a wide area across the project, and these results have identified areas where we can focus our follow up work phases. We are now planning to complete a detailed soil geochemical sampling survey across those 3 major zones of lithium mineralisation.”
The Hillside Lithium Project covers a 65km-square area in the Pilbara region of Western Australia. The project is considered ‘highly prospective’ for lithium-tin-tantalum mineralisation.
Askari Metals is an explorer and developer focused on its portfolio of ‘high-grade’ battery and precious metal projects across Namibia, Western Australia, the Northern Territory, and New South Wales.
As of 30 June 2023, the company had $3.453 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Askari Metals
