- Benz Mining (BNZ) identifies high-grade lithium mineralisation over a large outcropping area within the Ruby Hill West prospect in Quebec, Canada
- The samples confirmed a lithium-caesium-tantalum (LCT) pegmatite which returned 1.9 per cent lithium, 3160ppm rubidium, over 500ppm caesium and 274ppm tantalum
- The company plans to follow this up with drilling that’s expected to begin at the end of March or beginning of April
- Company shares finished the day up 23.9 per cent to 70 cents
Benz Mining (BNZ) has received assays from rock chip sampling at the Ruby Hill West lithium prospect in the Upper Eastmain greenstone belt of Quebec, Canada.
Positively for the company, sampling identified high-grade lithium mineralisation over a large outcropping area of 100 metres by 40 metres which remains open in all directions and hasn’t been drill tested.
The samples also confirmed the presence of a lithium-caesium-tantalum (LCT) pegmatite with results including 1.9 per cent lithium, 3160 parts per million (ppm) rubidium, over 500ppm caesium, 274ppm tantalum, and 1.6 per cent lithium, 3470ppm rubidium, and over 500ppm caesium and tantalum.
“These are excellent results that identify high grade lithium mineralisation over a large outcropping area at Ruby Hill West, with additional high-value rubidium, caesium and tantalum credits,” CEO Xavier Braud said.
“Importantly, the lithium pegmatite at RHW is hosted in the greenstones, near the contact with younger felsic plutonic rocks which are most likely to be the source of the pegmatite fluids. This is a geological setting shared by many lithium pegmatite deposits such as Pilgangoora or Kathleen Valley in WA,” he added.
At this stage, the company has confirmed one mineralised pegmatite occurrence and it hasn’t been systematically tested.
Benz Mining plans to drill the pegmatite occurrence towards the end of March or the beginning of April.
Company shares finished the day up 23.9 per cent to 70 cents.