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- Midas Minerals (MM1) defines an eight kilometre zone of pegmatites at the Kawana East prospect within its Newington project in Western Australia’s Goldfields region
- The first round of drilling at the lithium-gold project has wrapped up, with 63 reverse circulation drill holes completed for 2980 metres
- All but nine of the holes drilled intercepted pegmatites and defined the strike, dip and variability of the mineralogy over an eight kilometre strike length
- Assay results are expected in quarter four, in the meantime, mapping and geochemical sampling is continuing with the aim of extending the area of known pegmatites
- MM1 ends the day 26.5 per cent in the red to close at 18 cents
Midas Minerals (MM1) has defined an eight kilometre zone of pegmatites at the Kawana East prospect within its Newington project in Western Australia’s Goldfields region.
The first round of drilling at the lithium-gold project has wrapped up, with 63 reverse circulation drill holes completed for 2980 metres.
All but nine of the holes drilled intercepted pegmatites and according to Midas, successfully defined the strike, dip and variability of the mineralogy over an eight kilometre strike length.
Midas said the pegmatites show excellent strike persistence and true widths that generally ranged from between 10 to 30 metres.
Additionally, lithium micas were visually confirmed in several holes and further analysis is required to determine the presence of other lithium silicates such as spodumene or petalite.
Around 800 samples have been submitted for lithium analysis and around 80 composite samples have been submitted for gold and nickel analysis.
While drill logging has provided information on the orientation, width and mineralogy of the pegmatites, Managing Director Mark Calderwood said the assay results will add significantly to the company’s knowledge on the fractionation of the pegmatites.
“I am highly encouraged with the strike persistence and width of the pegmatites drilled to date and the potential for extensions along strike and down dip,” he said.
“Importantly, we are seeing a significant mass of pegmatite and mineralogical zonation along and across strike.”
Midas expects to received the assay results in quarter four. In the meantime, mapping and geochemical sampling is continuing with the aim of extending the area of known pegmatites.
MM1 has ended the day 26.5 per cent in the red to close at 18 cents.
