Western Australia-based explorer Octava Minerals (ASX:OCT) is about to begin a soil sampling program and follow-up drilling to test identified lithium targets at the Pinnacle Well lithium prospect within its Talga Project.
This news comes after the company completed a maiden reconnaissance reverse circulation (RC) drilling program in the area, which intersected lithium mineralisation that Octava says requires further investigation.
‘Significant’ intersections recorded from the 10-hole RC program include drillhole 23TC005 with 4m @ 667 parts per million (ppm) Li from 12m; and drillhole 23TC010 with 5m @ 429ppm Li from 60m, including 1m @ 594ppm Li from 64m.
Commenting on the drill results, Octava Minerals Chief Executive Officer (CEO) and Managing Director Bevan Wakelam says: “The Octava team has successfully completed the first drilling program for lithium at Talga on the Pinnacle Well lithium prospect.
“The drilling covered a targeted area and recorded substantial intersections of pegmatite requiring follow-up investigation”
The drilling covered a targeted area and recorded substantial intersections of pegmatite requiring follow-up investigation and has improved our geological understanding of the orientation of the pegmatite intrusions.
A number of outcropping pegmatites have been identified in the Pinnacle Well area and also at the nearby Nimerry prospect to the East, which are being systematically explored in detail.
Octava has follow-up drilling planned to test additional outcropping pegmatite at both Pinnacle Well and the Nimerry prospect.”
Octava Minerals is a green energy metals exploration and development company that has 3 ‘strategically located’ projects in geographically proven discovery areas. The company’s key project, the Talga Project, is located in the East Pilbara region of Western Australia.
On 31 March 2023, the company had $3.87 million in cash and cash equivalents at hand and no debt, according to its latest quarterly report published on 26 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Octava Minerals Ltd