Widgie Nickel (ASX:WIN) has unearthed a new lithium prospect dubbed the Trainline through exploration drilling in Western Australia.
Drilling conducted north of the historic Coolgardie-to-Esperance train line has delineated a barren dolerite intrusive that truncates the pegmatite body to the north and south.
The company says the lithium-bearing pegmatite intersected north of the dolerite intrusive has given rise to the new Trainline lithium prospect, which returned ‘high-grade’ results including drillhole 23MERC118 with 4m @ 1.19% Li2O from 22m.
Widgie Nickel adds that further work and infill drilling is required to fully comprehend the geometry and nature of the LCT pegmatite at Trainline.
Additionally, the company has defined lithium mineralisation at depth at its Faraday deposit.
A reverse circulation (RC) drilling campaign was completed to the north of the Faraday deposit. The down-dip extensional drilling confirmed the continuity of the main Faraday westerly dipping lithium-bearing pegmatite.
Further infill drilling down dip is required at Faraday to expand the boundaries of mineralisation and in turn inform an updated Mineral Resource Estimate, with the potential inclusion of further mineralisation at Trainline.
Commenting on this new discovery, Widgie Nickel Chief Executive Officer (CEO) and Managing Director Steve Norregaard says: “Widgie’s lithium endowment shows it has exceptional growth potential, with wide-spaced intercepts at Trainline showing excellent promise in addition to the expanding Faraday deposit.
“Our next steps will be to infill Trainline and the Faraday down-dip extensions”
Our next steps will be to infill Trainline and the Faraday down-dip extensions. Ongoing evaluations of offtake partnership options are nearing a logical conclusion, with interest levels high.
The Faraday-Trainline Lithium Project has all the hallmarks of a very low-cost development able to be commercialised in the very near term.”
Widgie says it is nearing the conclusion of offtake discussions and expects to announce a partnership structure in the near future.
The Faraday-Trainline Lithium Project area is located on mining lease M15/102, 4km west-northwest of the Widgiemooltha townsite. The mineralisation at the project is hosted within lithium-caesium-tantalum (LCT) pegmatites associated with fractionated late-stage granitic intrusions.
Faraday and Trainline are central to the company’s Mt Edwards Project, which covers a ‘significant’ landholding within the lithium corridor between Marion to the north and Pioneer Dome to the south.
Widgie Nickel holds a ‘vast’ 240km-square package of ‘highly prospective’ nickel and new-economy metal prospects within the prolific Eastern Goldfield nickel sulphide belt.
As of the end of March 2023, Widgie Nickel had $4.697 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Widgie Nickel Ltd
