Join our daily newsletter At The Bell to receive exclusive market insights
- Reach Resources (RR1) reports “outstanding” results from a soil sampling program conducted over the Bonzer pegmatite field within its Morrissey Hill project in WA
- Individual assays returned grades of 759ppm lithium oxide, and from 833 samples, more than 60 per cent have reported assays in excess of 100ppm lithium oxide
- Furthermore, RR1 reported strong lithium anomalism defined by values greater than 500ppm lithium oxide, extending more than 1.5 kilometres and 700 metres in width
- The company is starting a maiden drill program next week to assess the grade, size and scale of RR1 mapped pegmatites to date
- RR1 shares are down 3.85 per cent, trading at 1.3 cents at 2:54 pm AEST
Reach Resources (RR1) has reported “outstanding” results from a soil sampling program conducted over the Bonzer pegmatite field within its Morrissey Hill lithium project in Western Australia.
Individual assays returned grades of up to 759 parts per million (ppm) lithium oxide, and from 833 samples, more than 60 per cent have reported assays in excess of 100 ppm lithium oxide.
Furthermore, the company reported strong lithium anomalism defined by values greater than 500 ppm lithium oxide, extending more than 1.5 kilometres along strike and 700 meters in width.
The anomaly remains open as soil sampling and mapping are ongoing to assess the broader project area.
“…The entire grid sampled across the Bonzer pegmatite field has literally lit up with lithium,” RR1 CEO Jeremy Bower said.
“The presence of lithium in soils at these extremely high levels is another piece of critical data we are using to refine our high-priority drill targets.”
The company is kickstarting a maiden drill program next week at its Morrissey Hill project, which is along the strike of Delta Lithium’s Malinda lithium project in Yinnetharra.
The program comprises 8-10 reverse circulation holes drilled between a depth of 100-300 metres, paired with another 8-10 diamond drillholes amassing 4500 metres of drilling in total.
The holes are planned to assess the grade, size, and scale of RR1 mapped pegmatites to date and will test for the presence of “blind” sub-surface pegmatite bodies.
RR1 shares were down 3.85 per cent, trading at 1.3 cents at 2:54 pm AEST.
