TG Metals (ASX:TG6) is assessing lithium-bearing pegmatites discovered in a recently conducted drilling program at the Burmeister prospect within its Lake Johnston Lithium-Nickel-Gold Project in Western Australia.
On 30 October, the $47.57 million market capitalisation company announced that the initial drilling of the Burmeister lithium soil anomaly intersected spodumene-bearing pegmatites with ‘high-grades’ of up to 2.28% lithium oxide (Li2O).
The company is now assessing this discovery through a phase two reverse circulation (RC) drilling program. TG Metals has completed 6 holes for 1,372m so far.
Samples have been submitted for analysis, with results expected within 2 weeks.
A further 7 holes are planned for a total of 4,000m of drilling, and this is expected to be completed within the next 3 weeks.
TG Metals Chief Executive Officer (CEO) David Selfe says the company is also progressing other exploration areas within the Lake Johnston project, and sample results from the current drilling program will aid in planning phase three drilling.
“The company is in a good position for ongoing drilling results and other Lake Johnston project exploration for the remainder of this year and into the new year.”
“The company is in a good position for ongoing drilling results and other Lake Johnston project exploration for the remainder of this year and into the new year”
TG Metals notes the diamond core tail planned on previously drilled hole TGRC0009 has been completed. The core is en route to Perth to be cut and assayed for further physical testwork.
While further lithium target diamond tail positions are evaluated, the diamond drill rig has relocated to the Cathkin South nickel prospect.
Meanwhile, at the company’s Jaegermeister soil anomaly, aboriginal heritage, and flora and fauna surveys are planned to begin in Q1 2024.
TG Metals is a battery and precious metals explorer focused on its wholly owned Lake Johnston Project in Western Australia.
As of 30 September 2023, the company had $3.235 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: TG Metals