Join our daily newsletter At The Bell to receive exclusive market insights
- Marquee Resources (MQR) is set to begin exploration at the West Spargoville Project (WSP) in Western Australia
- After recent drilling, it was found that there is significant potential to identify lithium-bearing lithium-caesium-tantalum pegmatites
- This exploration will see Marquee undertake geophysical and geochemical programs with the aim of outlining LCT pegmatites for follow-up drilling
- Marquee has also enlisted Ultramag Geophysics to carry out a deep penetrating ground radar survey over the northern portion of West Spargoville
- Marquee has ended the day 2.78 per cent in the red with shares trading at seven cents
Marquee Resources (MQR) is set to begin exploration at the West Spargoville Project (WSP) in Western Australia.
The West Spargoville Project lies 20 kilometres southwest of Kambalda at the northern end of the Widgiemooltha Greenstone Belt.
It spans a continuous strike measuring over 20 kilometres and covers an area of 80 square kilometres.
After recent drilling at the project, it was identified that there exists a significant potential to identify lithium-bearing lithium-caesium-tantalum (LCT) pegmatites.
This exploration program will see Marquee undertake geophysical and geochemical programs with the aim of outlining LCT pegmatites for follow-up drill testing.
This is the first exploration program of many planned to be undertaken at the WSP over the coming months.
Marquee has also enlisted Ultramag Geophysics to carry out a deep penetrating ground radar (DGPR) survey over the northern portion of West Spargoville.
Ultramag will be mobilising to the project in the last week of September with the survey expected to take roughly 12 days.
Due to the quick data turnaround, Marquee expects to release findings by mid-October.
Once received, the data will be used to plan further exploration drilling programs in the coming months.
“It is an exciting time for the company and its shareholders as we embark on the next phase of exploration at the West Spargoville Project,” Mr Thomas said.
“We are fully committed to completing the methodical and thorough exploration that this project requires to unlock its true potential.”
Marquee has ended the day 2.78 per cent in the red with shares trading at seven cents.
