Scorpion Metals (ASX:SCN) is planning to undertake follow-up 2024 reverse circulation (RC) drilling at its Pharos Project in Western Australia upon the completion of its current maiden drilling program.
The company says the follow-up work, to be completed in Q1 and Q2 next year, will drill parallel pegmatites to determine their extent and composition.
Further, Scorpion plans to conduct a follow-up geological mapping and rock chip sampling program next year, as well as an auger soil geochemistry program to identify additional pegmatites under shallow soil cover.
The $17.48 million market capitalisation company is currently conducting a 10-hole for 1,000m RC drilling program to target outcropping lithium-caesium-tantalum (LCT) pegmatites at Poona East and West targets.
Scorpion says this drilling will test shallow targets identified by historic surface sampling that returned ‘high-grade’ values up to 2.99% lithium oxide (Li2O).
Chief Executive Officer (CEO) Michael Fotois says the previous exploration work that confirmed LCT pegmatite dykes will be the main focus for this round of drilling.
“We will look to advance activities at Pharos as quickly as possible, as it presents a highly strategic and complementary asset in the Scorpion portfolio.”
“We will look to advance activities at Pharos as quickly as possible, as it presents a highly strategic and complementary asset in the Scorpion portfolio”
Further, Scorpion is also planning to conduct diamond drill testing next year of existing targets at depth, along with XRD and preliminary metallurgical testwork.
Scorpion Metals is an Australian mineral explorer and resource developer focused on uncovering a diversified range of minerals.
The Pharos Project covers a 1,295km-square area that sits 60km northwest of Cue in the Murchison Mineral Field of Western Australia.
As of 30 September 2023, the company had $18,000 cash and cash equivalents at hand and $1.325 million of unused finance facilities, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Scorpion Metals
