Lord Resources (ASX:LRD) has discovered ‘extensive’ fractionated pegmatites from phase two reverse circulation (RC) drilling at its Horse Rocks Lithium Project in Western Australia.
The company has received all results from its phase two work, under which it drilled 15 holes for 2,779m across the project. The drilling was designed to test the down-dip projection of anomalous lithium-caesium-tantalum (LCT) pegmatites first found in phase one drilling and to investigate ‘intense’ magnetic low features at the project.
The assay results, however, show a peak lithium grade of 0.25%, caesium of 613 parts per million (ppm) Cs2O, and tantalum of 87 ppm TaO5.
Lord says while the lithium values were low, the elevated grades of pathfinder elements — caesium and tantalum — are an ‘excellent’ indication of the potential for proximal economic mineralisation nearby.
Further, the company says the drilling results showed multiple stacked pegmatites displaying ‘extensive’ strike and down-dip orientation, as well as ‘strong’ fractionation vectoring towards the northwest, where there is little outcrop.
Lord Managing Director Barnaby Egerton-Warburton says the company’s next stage of exploration will likely focus on the soil-covered northwestern extension of the pegmatite ‘swarm’.
“Drilling to date has confirmed that the swarm of stacked pegmatites at Horse Rocks extends over an area of at least 1,100m by 500m, with the fractionation increasing towards the northwest.”
“Drilling to date has confirmed that the swarm of stacked pegmatites at Horse Rocks extends over an area of at least 1,100m by 500m, with the fractionation increasing towards the northwest”
Looking ahead, Lord is now planning to kick off further ground exploration to the north and west of the central Horse Rocks drilling area, including mapping and rock sampling.
Lord Resources had $2.61 million cash and cash equivalents at hand as of 30 September 2023, according to its latest quarterly report.
Write to Joshua Smith at Mining.com.au
Images: Lord Resources