Scorpion Minerals (ASX:SCN) is planning to undertake further exploration programs over a 6-month course at the Youanmi Lithium Project in Western Australia.
The $24.19 million market capitalisation company says this will include reverse circulation (RC) and diamond drilling of lithium targets, alongside geochemical mapping and soil geochemistry programs, and airborne and/or ground electromagnetics (EM) surveys.
This announcement comes after the company completed an infill RC drilling program at the project, which returned ‘significant high-grade’ assay results. Some of the results include 9m @ 1.5% Li2O from 160m; 6m @ 1.6% Li2O from 49m; and 7m @ 1.19% Li2O from 76m.
Commenting on the recent drill results, Scorpion Minerals Chief Executive Officer (CEO) Michael Fotios says: “We are pleased to have completed another successful drilling program at Youanmi safely, on time, and on budget.
“The latest program will look to build on the recent RC drilling, which confirmed significant high-grade lithium mineralisation in stacked LCT pegmatites.”
The latest program will look to build on the recent RC drilling, which confirmed significant high-grade lithium mineralisation in stacked LCT pegmatites. We eagerly await the results from this round of infill drilling.”
Scorpion Minerals is an Australian exploration and resource development company with a focus on discovering deposits over a diversified range of minerals. As of 31 March 2023, the company had $887,000 cash and cash equivalents at hand, according to its latest quarterly report published on 28 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Scorpion Minerals Ltd
