Castle Minerals (ASX:CDT) has dispatched a field crew to its Woodcutters Lithium Project in Western Australia to begin evaluating pegmatites as it works to demonstrate the credibility of its exploration camp.
The $11.24 million market capitalisation company’s field crew will be extending previous work following up on priority lithium soil anomalies and anomalous pegmatite rock chip results.
These activities are subsequent to Castle conducting a soil sampling program that, combined with historical data, defined 5 zones of geochemical lithium anomalism.
Castle identified a pegmatite in close proximity to the peak lithium value soil sample, which returned an anomalous value of 119.9 parts per million (ppm) lithium.
Commenting on the ongoing activities, Castle Minerals Managing Director Stephen Stone says: “We have rapidly advanced Woodcutters from an opportunistic and conceptual pick-up to a stage where we have confirmed its lithium prospectivity by delineating several zones of consistent lithium anomalism in soils along with supporting anomalous pegmatite rock chips.
“we believe we are on the right track, and what we need to do now is to locate more anomalous pegmatites within the higher-priority areas of soil anomalism and then extend that search out to other regions”
What is also encouraging is that the relationship of the lithium anomalism to a nearby intrusive centre is consistent with what would be expected with a typically fractionated or zoned lithium-bearing pegmatitic system.
So, we believe we are on the right track, and what we need to do now is to locate more anomalous pegmatites within the higher-priority areas of soil anomalism and then extend that search out to other regions.
Soil cover makes the task more challenging, but overcoming that using modern exploration tools is also the opportunity as it has hampered previous explorers.”
Castle holds 2 granted exploration licences at Woodcutters that have a combined area of 410km-square.
The company notes only a fraction of its 410km-square licence has been assessed for lithium, and while ‘large’ parts can be discounted on the basis of geology, other areas have yet to receive appropriate attention for lithium mineralisation.
Castle Minerals is headquartered in Western Australia and has interests in several projects in Ghana, alongside battery, base, and precious metal assets in Western Australia.
As of 30 June 2023, the company had $2.89 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Castle Minerals
