- Marquee Resources (MQR) confirms the presence of spodumene-bearing lithium-caesium-tantalum (LCT) pegmatites at its West Spargoville project in Western Australia
- So far, the company has completed 54 reverse circulation (RC) holes and 112 aircore holes in the area, with drilling still ongoing
- The drilling so has struck up to 0.79 per cent lithium oxide, while recent surface mapping returned up to 3.12 per cent lithium oxide
- The company says these results are confirmation that the West Spargoville project has the potential to host spodumene-bearing pegmatites
- Shares in Marquee Resources are down 1.28 per cent and trading at 7.7 cents at 12:57 pm AEST
Marquee Resources (MQR) has confirmed the presence of spodumene-bearing lithium-caesium-tantalum (LCT) pegmatites at its West Spargoville project in Western Australia.
So far, the company has completed 54 reverse circulation (RC) holes, for 7636 metres, and 112 aircore holes, for 7153 metres, at the project, with drilling still ongoing.
Results have been received for the first 41 RC holes and 53 aircore holes, with up to 0.79 per cent lithium oxide intersected.
Additionally, recent surface mapping returned a result of 3.12 per cent lithium oxide, which Marquee said it would follow up with RC drilling.
According to the company, these results were confirmation that the West Spargoville project had the potential to host spodumene-bearing pegmatites.
“We have been working hard to effectively test the many targets that we have generated at the West Spargoville project. Twelve months ago, there had been no lithium exploration completed at the project, so we’ve made significant progress,” Executive Chairman Charles Thomas said.
“The early RC results are proof-of-concept, and the initial drilling campaign has highlighted we are certainly in the right neighbourhood, and the expedited drilling will work through and focus on the multitude of targets that we have defined through our strategic approach to exploration.”
Shares in Marquee Resources were down 1.28 per cent and trading at 7.7 cents at 12:57 pm AEST.