Australasian Metals (ASX: A8G) has been granted the key exploration license 32830 required for its Mt Peake Lithium Project in the Northern Territory’s Northern Arunta pegmatite province.
Speaking on the announcement, Managing Director Dr Qingtao Zeng said: “The granting of the Mt Peake exploration license allows us to be more aggressive with our on-ground exploration.”
The news follows a soil geochemical sampling program completed on the northwest corner of the tenement, comprised of six sample lines spaced 400m apart.
“The granting of the Mt Peake exploration license allows us to be more aggressive with our on-ground exploration”
A8G notes that the scale of the program has allowed it to establish ‘clear’ anomalous values, covering sub-cropping or shallow pegmatite dykes, and swarms of outcropping pegmatites striking into the adjacent Core Lithium (ASX:CXO) tenement to the northwest.
Dr Zeng added: “The soil sampling program successfully identified the northwest striking structures which are consistent with the DGPR interpretation. This gives us added confidence in our exploration strategy in identifying potentially mineralised pegmatites, and helps to firm up our future drilling targets.”
The soil sampling work has resulted in a number of new targets at Mt Peake which are set for future testing.
Mt Peake Lithium Project tenement map displaying DGPR survey lines and soil sample program in the northwest cornerMoving forward, the program is set to extend southeast to expand coverage area and to infill areas of anomalism generated from phase 1 sampling.
Rock chips from a previous field trip are currently at the lab for assay, with the company noting that results may ‘significantly improve’ geological understanding of the lithium mineralisation.
Images: Australasian Metals Limited
