Join our daily newsletter At The Bell to receive exclusive market insights
- Bulletin Resources (BNR) discovers a new spodumene bearing pegmatite at its Ravensthorpe project in Western Australia
- The new pegmatite was found in the southern extent of the Western Pegmatite trend, with an outcrop for 100 metres and ten-metre width
- Rock chip samples of the outcropping spodumene returned lithium grades of between 3.5 to 4.8 per cent
- Bulletin is now awaiting clearing and drilling permits after submitting environmental reports to the Department of Mining, Industry Regulation and Safety in early December
- Shares in BNR are up 7.1 per cent trading at 11.3 cents at 1:30 pm AEDT
Bulletin Resources (BNR) has discovered a new spodumene bearing pegmatite at its Ravensthorpe project in Western Australia.
The new pegmatite is in the southern extent of the Western Pegmatite trend, with an outcrop for 100 metres and roughly ten-metre width.
Rock chip samples of the outcropping spodumene returned lithium grades of between 3.5 to 4.8 per cent.
The discovery was a result of mapping and sampling of potential pegmatite outcrops defined through a light detection and ranging survey, plus high resolution imagery targeting program.
Mapping work north east of the new discovery, along strike of the Deep Purple pegmatite in the Eastern Pegmatite trend, also identified a number of small and discrete pegmatite outcrops.
Bulletin said these pegmatites were generally “granitic” and “poorly evolved”, and are considered to have lower prospectivity for lithium mineralisation.
Further north, the pegmatites returned to a more evolved, coarse grained nature. Despite this, the company did not record any significant lithium assays from the area.
Bulletin said it’s now awaiting clearing and drilling permits after submitting environmental reports to the Department of Mining, Industry Regulation and Safety in early December.
These reports were based on spring season surveys that found clearing for drill rig access tracks and exploration drilling could have a minor impact on fauna habitat, however it concluded the impact was not likely to be significant.
In taking a precautionary approach to the environment, Bulletin said it implemented several mitigation strategies to further ensure “minimal disturbance” of the local fauna and a referral to the Department of Climate Change, Energy, the Environment and Water to review these mitigation measures was also in progress.
Meanwhile, the company is continuing its mapping campaign to further develop the potential of the area.
Shares in BNR were up 7.1 per cent trading at 11.3 cents at 1:30 pm AEDT.
