Kali kickstarting Spargoville drilling in April

Kali Metals (ASX:KM1) has expanded the planned reverse circulation (RC) drilling program at its Spargoville Project in Western Australia to incorporate a new larger area of prospectivity. 

Kali, which has a $58.37 million market capitalisation, says drilling will begin in late April 2024. 

Drilling has been expanded after the company posted new results from ongoing soil geochemical sampling, which demonstrate that lithium anomalies at both Spargoville and Widgiemooltha are bigger than previously interpreted.

X-ray diffraction and scanning electron microscope confirms spodumene in multiple areas around both projects, with the highest spodumene content being 67.2% per weight percent, which correlates with the highest grade of 5.05% lithium oxide (Li2O) at the Flynn-Giles prospect at Spargoville. 

Managing Director Graeme Sloan says: “Our soil geochemical program continues to deliver results across the Spargoville Project with multiple trends of anomalies now spanning over a combined strike of 4km.

Furthermore, the identification of multiple sites containing spodumene at Higginsville using the XRD and SEM techniques enhances the company’s confidence going into our maiden drill program and confirms that the targets are in the optimal location with respect to the pegmatite fractionation sequence.”

Kali Metals is a lithium-focused explorer with a portfolio of assets in Australia’s hard-rock lithium fields. The company covers a 3,854km-square exploration tenure in emerging and unexplored regions in Western Australia, New South Wales, and Victoria. 

As of 31 December 2023, the company had $13.476 million cash and cash equivalents at hand, according to its latest quarterly report.

Write to Adam Drought at Mining.com.au

Images: Kali Metals
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.