Lithium explorer Patriot Lithium (ASX:PAT) is preparing to undertake mapping and sampling at its Keystone Project in South Dakota, US, following the identification of ‘potentially fertile’ pegmatites.
The $15.62 million market capitalisation company says these several fractionated pegmatite outcrops were identified by an initial reconnaissance mapping and sampling program of the Black Hills region in South Dakota.
Patriot reports one of these discovered pegmatites is located only 3.5km from the historical ‘high-grade’ Etta, Edison, and Hugo lithium mines near Keystone.
The company notes these ‘highly encouraging’ results will inform a program of systematic mapping and sampling across its Black Hills claims in September this year.
Speaking on the discovery, Patriot Chief Executive Officer (CEO) and Managing Director Nicholas Vickery says: “After a period of dedicated focus on Patriot’s highly prospective Gorman project in Ontario, the team has been eager to get back on the ground in the Black Hills to direct attention to our exciting Keystone and Tinton West projects.
Recent early-stage reconnaissance around the Keystone region has confirmed promising K/Rb ratios, indicating a potential for lithium mineralisation, within significant pegmatite outcrops only 3.5km from the historic high-grade Etta, Edison, and Hugo Li mines that the team is keen to explore and define further.
“Patriot will be ramping up its efforts in the Black Hills in the coming months“
The recent impressive drilling results achieved in the region by Iris Metals reaffirms the Black Hills as a highly prospective lithium district. The results released from the Beecher Project nearby give us even greater confidence in the early exploration work that Patriot is undertaking.
Patriot will be ramping up its efforts in the Black Hills in the coming months. Mapping and sampling programs are scheduled across the remaining Keystone and Tinton West claims, including the recently staked claims that extended Keystone claims by 15km-square and the Tinton West claims by 4km-square.”
Patriot also notes its claim holding has been expanded to cover additional ‘highly prospective’ ground at the Keystone and Tinton West projects.
These claims sit within the same region as Iris Metals’ (ASX:IR1) Beecher Project, which recently returned ‘outstanding’ initial drill intercepts, including 60m at 1.21% Li2O.
Patriot Lithium is an ASX-listed explorer of ‘high-grade’ and hard rock lithium projects in the prolific Black Hills lithium district of South Dakota and Wyoming, as well as the pegmatite belt of Arizona in the US and the Archean Greenstone Belts in Northwest Ontario, Canada.
The company’s Keystone project covers an area of 34km-square considered prospective for lithium within the ‘high-grade’ Black Hills lithium province in South Dakota.
Patriot Lithium had $5.1 million cash at hand as of 30 June 2023, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Patriot Lithium
