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Maiden drilling at the Prinsep lithium project in WA’s Pilbara region has revealed a large lithium system with intercepts of up to 1.28% Li2O for Accelerate Resources Ltd (ASX:AX8).
This includes an ‘alteration halo’ measuring 150 metres in true width – which was found in basalt and sediment host rock – interspersed by lithium pegmatites defined over 1,600m strike in the Northern Zone of the project.
This work – which comprised 38 drill holes – was the first test since last year’s first discovery of lithium at the site, when rock samples pulled up lithium grades including 2.06% Li2O.
Lithium mineralisation at the project is now shown to comprise south-dipping zones which were tested from surface to an average depth of 100 metres.
Accelerate CEO Luke Meter said the discovery was pleasing given the fact that Prinsep was at such an early stage.
“I am pleased to be able to report on the RC drill results, the first ever drilling of this new discovery, where we have successfully demonstrated the potential of Prinsep lithium project,” he said.
“Despite modest grades at this stage, the Company has been able intercept pegmatites and mineralisation in every drill hole, over 1.6 kilometres of strike and define a significant 120 metre wide lithium halo around the northern pegmatite zone.
“The technical team are now busy reviewing all the data to help define the next phase of exploration in which we will aim to focus in on the higher-grade lithium zones and further delineate the recently identified lithium soil anomalies.”
Accelerate has been trading at 2.2 cents.
