After completing reconnaissance drilling, Delta Lithium (ASX:DLI) has moved onto stage one of a four-staged reverse circulation drilling program at the Mt Ida Project in Western Australia.
Drilling has started off at the Baldock area, targeting shallow resource extensions further along the 3km strike of the Baldock deposit.
Stage two will follow the current program and complete step out reverse circulation drilling of the existing resources, including Kestrel.
Delta Lithium, which has a market capitalisation of $171.21 million, says this stage will also complete pre-collars for the arrival of a diamond drilling rig in the coming months.
Stage three will consist of diamond drilling to test the down dip and plunge extensions to “higher grade” shoots of the Baldock deposit. Meanwhile, stage four comprises reverse circulation drilling assessing several defined regional prospects.
The drillholes have been designed to follow-up historic intercepts and represent compelling upside for the gold potential of the Mt Ida Project.
Delta is also continuing lithium exploration at the Mt Ida Project, after mapping and surface rock chips identified at the Drake and Bonny prospects showed a strike extent of 250m and returned assays up to 2.1% lithium oxide.
Initial results from the first-pass reconnaissance drilling have been returned which have intercepted pegmatite, however did not intercept the “high-grade” plunge of the spodumene observed at surface.
The program comprised 1,200m of drilling to test the prospects. All remaining assays are pending.
At Mt Ida, an internal Scoping Study was completed and an investigation of capex and opex estimates for a stand-alone processing option has begun.
At the Yinnietharra Project in Western Australia, the company continued exploration work with two rigs operating at the Malinda prospect. Drilling showed continued lithium intercepts, which form the bulk of the resource estimate.
During this quarter, Delta Lithium will focus on completing resource definition programs for Malinda, and completing diamond drilling programs to collect representative bulk samples for metallurgical testwork.
Once completed, a reverse circulation rig will investigate regional targets at Jameson, Talisker, and Caribou, while also continuing target generation and exploration work across various regional prospects.
The company is in the process of identifying a suitable track-mounted reverse circulation rig to be used at Jamesons, while access constraints are surveyed for heritage importance before drilling can resume. Geological mapping is continuing to be conducted, as well as geochemical surface sampling across prospective areas at Yinnietharra.
Delta Lithium is an explorer and developer focused on lithium-bearing pegmatite deposits in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Delta Lithium
