- Bulletin Resources (BNR) has been granted a tenement for its new Ravensthorpe Lithium Project in WA
- The 57-square-kilometre tenement is located just 12 kilometres along strike from the Mt Cattlin Lithium Mine
- According to Bulletin, the new tenement contains known lithium-bearing pegmatites and also has potential for gold
- The site was relinquished by ASX-lister Australian Lithium (LIT) over a lack of encouraging drill data from a single pegmatite
- However, BNR believes the tenement still has strong potential with other known outcropping areas remaining untested
- BNR is assessing other projects to add to its growing portfolio alongside its flagship Lake Rebecca Gold Project
- Bulletin Resources shares have spiked 2.9 per cent to trade at 7.1 cents
The Western Australian Department of Mines, Industry Regulation and Safety has granted Bulletin Resources (BNR) a tenement for the company’s new Ravensthorpe Lithium Project in Western Australia.
The 57-square-kilometre tenement is located just 12 kilometres along strike from the Mt Cattlin Lithium Mine.
According to Bulletin, the latest addition to its project pipeline contains known lithium-bearing pegmatites and also has potential for gold.
Previous work at the site has identified a series of outcropping pegmatites with costean sampling of one pegmatite returning 10 metres at 1.1 per cent lithium oxide, including one metre at 2.91 per cent LiO2.
Relinquished in 2017 by ASX-lister Australian Lithium (LIT) over a lack of encouraging drill data from the single pegmatite, Bulletin believes there is still strong opportunity to discover mineralisation in economic quantities at the tenement.
BNR considers the presence of other untested outcropping pegmatites at the tenement promising, noting the rocks as having high potential under shallow cover.
Importantly, the company recognises Ravensthorpe as a district well known for gold mineralisation, which is commonly associated with thrust faulting in the area.
Bulletin is continuing to assess opportunities to add to its growing project portfolio alongside its flagship Lake Rebecca Gold Project.
Bulletin Resources shares have spiked 2.9 per cent to trade at 7.1 cents at 5:11 pm AEST.