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- Results received from seven diamond drill holes for 640m completed
- Results further demonstrate shallow, high-grade nature of the Big Red pegmatite system
- Advancing delivery of direct shipping ore (DSO) study
- Investigating near-term, capital-lite operation
Ore Resources (ASX: OR3) has further reinforced the significant underlying lithium prospectivity of the Kangaroo Hills project in WA with results from its significant diamond drilling program.
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To date all five targeted holes have intersected shallow, thick, high-grade lithium mineralisation at Kangaroo Hills, part of the broader Coolgardie lithium projects, located in the Goldfields region of WA.
MD and CEO, Nick Rathjen, said the results further add to studies into the delivery of direct shipping ore (DSO) and early cashflow.
“Our diamond drilling program at Kangaroo Hills has delivered strong outcomes across two fronts,” Mr Rathjen said.
“In addition to providing the representative core samples necessary for planned further metallurgical, ore sorting and geotechnical studies at Kangaroo Hills, the program has also returned significant lithium mineralisation in all targeted drill holes, further demonstrating the continuity of grade and thickness of the Big Red pegmatite system, highlighted by the intercept of 27m at 1.33% lithium oxides from a near surface depth of 4.0m.
“Importantly, our recent assessment of potential iron oxide contamination during laboratory sample preparation has also confirmed the low intrinsic iron content of the mineralisation at Big Red. This delivers further confidence in the quality of the deposit and a further positive indication of its suitability for downstream processing.”
Mr Rathjen said Ore’s geological understanding of Kangaroo Hills continues to strengthen, with the company advancing a technical study aimed at optimising project economics and enhancing product quality.
The samples collected during this diamond drilling will support ore sorting assessments and additional metallurgical testwork, which are expected to further refine a development strategy for the project.
“We remain on track to deliver a DSO study in the coming weeks. This study is set to deliver the technical and economic assessment of a potential DSO operation at Kangaroo Hills, in conjunction with declaration of an initial MRE for Kangaroo Hills.
“Together, these milestones will provide an important foundation for evaluating the project’s development potential and supporting future value creation as Kangaroo Hills advances to the next stage of development.”
OR3 is steady at 6.4¢ with a Mkt cap of $52.95M prior to markets opening.
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