- Aurumin (AUN) identifies its Mt Palmer Project, which has a history of high-grade gold production, is prospective for lithium exploration
- Phase one of the company’s Ultrafine soil sampling program has been completed in an area nearly covering five square kilometres, with the preliminary XRF results confirming prospectivity of lithium pegmatites
- The lithium index has identified multiple targets, some of which coincident with historically logged pegmatite and where outcropping pegmatite has been observed from field work
- All phase one samples have been dispatched to Labwest for Ultrafine soil sampling analysis and results are expected in around six to eight weeks, and phase two will be underway once all samples and approvals are received to go-ahead
- AUM shares were up 11.1 per cent, trading at 20 cents
Aurumin (AUN) has identified its Mt Palmer Project, which has a history of high-grade gold production, is prospective for lithium exploration.
Phase one of the company’s Ultrafine soil sampling program has been completed in an area nearly covering five square kilometres, and the preliminary XRF results confirm prospectivity of lithium pegmatites.
The lithium index has identified multiple targets, some of which are coincident with historically logged pegmatite in drilling with intercepts up to 50 metres downhole and where outcropping pegmatite has been observed from field work.
Ongoing compilation of historical data and desktop review of the Mt Palmer project has identified the potential for lithium mineralisation, particularly in the southern portion of the tenements around the Vickers Find South prospect.
Using the collated historical drilling information, the review identified pegmatites within a mafic-ultramafic sequence in a geological setting analogous to the Mt Holland lithium deposit located approximately 65 kilometres to the south of Mt Palmer.
“The recent identification of flatter lying pegmatites in the south of our tenements, analogous to those of Mt Holland, is a result of continuing to build our dataset
from pre-digital records and shows the value of this work,” said Aurumin Managing Director Brad Valiukas.
All phase one samples have been dispatched to Labwest for Ultrafine soil sampling analysis and results are expected in around six to eight weeks.
Samples will be analysed for a suite of minerals including lithium, lithium pathfinders as well as gold and gold pathfinders including base-metals.
Mr Valiukas also confirmed that an infill (phase two) soil sampling programme is underway and the company plans to undertake a reconnaissance drilling programme “as soon as practicable after receiving approvals”.
AUM shares were up 11.1 per cent, trading at 20 cents as of 10:35 am AEDT.