- Latest assays from Bulletin Resources’ (BNR) Ravensthorpe lithium project confirm the high-grade lithium nature of two spodumene mineralisation areas
- Rock chip assays from along the Eastern Pegmatite Trend returned lithium grades of up to 6.8 per cent and 7.04 per cent lithium
- The company says the new spodumene lithium mineralisation complements the existing spodumene occurrences at the Big, Deep Purple and Creek pegmatites
- Additionally, mapping discovered a lepidolite-bearing pegmatite 500 metres east of the Phillips South pegmatite which returned 4.01 per cent and 3.62 per cent lithium
- BNR shares are up 27.5 per cent to trade at 25.5 cents
Bulletin Resources (BNR) has received assays from mapping and rock chip sampling at the Ravensthorpe lithium project in Western Australia.
Positively, the assays confirmed the high-grade lithium nature of two previously announced areas of spodumene mineralisation along the Eastern Pegmatite Trend.
Two rock chip samples of spodumene in pegmatite lag 800 metres to the north of the Big pegmatite spodumene discovery returned 7.04 per cent lithium and 1.49 per cent lithium.
Bulletin also sampled a spodumene-bearing pegmatite outcrop 700m south-west of the Big discovery. The two rock chip samples also returned high lithium grades of 6.8 per cent lithium and 2.17 per cent lithium.
The company believes the new spodumene lithium mineralisation complements the existing spodumene occurrences at the Big, Deep Purple and Creek pegmatites and increase the lithium prospectivity of the broader Eastern Pegmatite Trend.
In addition to rock chip sampling, mapping discovered a lepidolite-bearing pegmatite 500m east of the Phillips South pegmatite and 200m east of the spodumene pegmatite lag rock chip samples.
The lepidolite pegmatites returned 4.01 per cent, 3.62 per cent and 3.05 per cent lithium — grades which Bulletin said are comparable to those previously seen at the Horseshoe pegmatite in the Western Pegmatite Trend.
The company is continuing the mapping and sampling program alongside environmental studies that are required for clearing permits.
BNR shares were up 27.5 per cent to trade at 25.5 cents at 3:59 pm AEDT.