Australian gold producer Calidus Resources (ASX:CAI) reports it has confirmed the continuation of an outcropping lithium (Li) body more than 250m down-dip following a maiden reverse circulation (RC) drilling campaign at the Spear Hill discovery in Western Australia (WA).
The results are of the maiden drilling program at Pirra Lithium’s Spear Hill discovery located in the Pilbara region. Pirra Lithium is owned equally by Calidus and Haoma Mining. In February, Calidus spun out new company Pirra Lithium together with Haoma with the aim of focusing exploration primarily on the most prospective lithium ground in the Calidus and Haoma portfolios.
Calidus reports the recent results, generated by 20 RC drillholes, have highlighted growth potential for the Spear Hill discovery, with key results including 2m at 1.11% Li2O from 19m (22PIRC026) and 2m at 1.09% Li2O from 5m (22PIRC020).
It is also reported that 8 drillholes planned for the far western end of the main pegmatite could not be drilled due to unseasonably heavy rainfall, however these drillholes are expected to form part of the next phase of drilling at the Spear Hill discovery.
The initial drilling program was conducted to test an exposed pegmatite that returned rock-chip assays of 0.66%-2.34% Li2O, as well as a second poorly-exposed pegmatite to the north.
Speaking on the results, Calidus Resources’ Managing Director, Dave Reeves said: “The maiden drilling program at Spear Hill has demonstrated the down-dip continuity of outcropping pegmatites and identified broad lithium anomalism.
“The maiden drilling program at Spear Hill has demonstrated the down-dip continuity of outcropping pegmatites and identified broad lithium anomalism”
The drilling represents only a small portion of the outcropping lithium pegmatites, with another 3km of strike length of pegmatite untested.”
Calidus Resources also notes that technical assessment is currently ongoing in order to identify ‘high priority’ target areas for scheduled phase two drilling.
Meanwhile, an Au-focused, maiden RC drilling program has commenced at the company’s Blue Spec West Gold Project, with a goal of testing ‘strong’ gold-in-soil anomalies over 2.5km of strike length.
This additional RC drilling program at Blue Spec West comes following the approval of a program of works (POW) by the Department of Mines, Industry Regulation and Safety (DMIRS) on the 27th September this year.
In addition, RC drilling at the Marble Bar Goldfield, located 25km from Warrawoona, is expected to follow up on ‘high-grade’ intercepts returned from a previous phase of RC drilling completed by the company earlier this year.
As of 9.15am AWST the company’s share price had increased by 7.792% to $0.415.
The Spear Hill area is located about 50km southwest of the Marble Bar Goldfield within WA’s Pilbara region and is currently being explored by Calidus Resources’ equally owned subsidiary company, Pirra Lithium. The exploration area is considered prospective for lithium mineralisation, which demonstrates ‘strong’ correlations with rubidium (Rb) and caesium (Cs) mineralisation.
With RC drilling still ongoing across the company’s exploration portfolio, Calidus Resources announces it remains focused on generating target areas for future drilling at the Spear Hill discovery.
Images: Calidus Resources Ltd & iStock
