Perth-based explorer Mitre Mining Corporation (ASX:MMC) has identified numerous pegmatite occurrences through initial field reconnaissance work at its East Pilbara Project in Western Australia.
The company reports field inspections and rock chip results demonstrate the ‘fertile’ nature of the tenement package, and as a result, Mitre is now planning follow-up exploration.
This follow-up work will consist of mapping to delineate the extent of the pegmatite bodies observed in the initial field visit and geochemical sampling on areas displaying ‘moderate’ to ‘high’ fractionation and visible holmquistite and cassiterite minerals.
These minerals are ‘strong’ lithium pathway indicators, and, consequently, the company says the exploratory field visit will initially focus on 3 ‘high-priority’ areas identified.
Mitre says the limited outcrops over the southern granite display a ‘high’ degree of weathering and soil cover. Due to the weathering and lack of exposure, the company says ‘key’ indicator elements and ratios are used as pathfinders, noting lithium has the potential to be weathered out at surface.
Shares in Mitre Mining Corporation were up 14% to $0.32 at 12:44pm AEST.
Commenting on the exploration work, Mitre Mining Corporation Executive Director Ray Shorrocks says: “To see pegmatites on our first field visit is extremely promising.
“the prospectivity of the project is outstanding”
Combined with the presence of the right pathway indicator minerals and high fractionations within the highly prospective lithium-bearing region of the Pilbara, the prospectivity of the project is outstanding. The next phases of fieldwork at our East Pilbara and Mt Alexander Lithium projects will be commencing shortly, generating ongoing news flow.”
Meanwhile, at its Mt Alexander Project, Mitre reports ‘extensive’ field mapping completed by St George Mining (ASX:SQM) defined a roughly 15km-by-4km belt of broadly east-to-west trending pegmatites.
The company says it is planning an exploratory field trip to determine the western extents of the Mt Ida belt pegmatite field, which appears to not have been delineated to date due to St George’s tenement constraints and depth of cover limitations.
A review of relevant data shows the pegmatites are controlled by dominant east-west regional structure controls, along with northwest-southeast-trending lithology and structural breaks. Mitre believes its ground contains these components and could mark the western boundary of the field.
Mitre Mining Corporation is an Australian mineral explorer and developer focused on ‘large-scale’ gold, base, battery, and rare earth metal discoveries in New South Wales and Western Australia.
The company’s portfolio of assets includes the East Pilbara and Mt Alexander projects in the Pilbara region of Western Australia, along with the Mitre Project near Batemans Bay on the south coast of New South Wales.
Write to Harry Mulholland at Mining.com.au
Images: Mitre Mining Corporation Ltd
