Pilbara Minerals (ASX:PLS) - Managing Director & CEO, Ken Brinsden
Managing Director & CEO, Ken Brinsden
Source: Business News
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  • Australian lithium producer Pilbara Minerals (PLS) receives further significant assays from its Pilgangoora Project in Western Australia
  • The company is undertaking a drilling program to target the under-explored region with aims to optimise and grow the future pit inventory
  • Pilbara has received results from the first 32 holes which saw grades peak at 1.84 per cent lithium oxide and 79 parts per million tantalum pentoxide
  • Geological modelling is now underway and the company is on track to release an updated mineral resource for Pilgangoora in the September quarter
  • Pilbara has ended the day 2.76 per cent in the green with shares trading at $1.49

Australian lithium producer Pilbara Minerals (PLS) has received further significant assay results from its Pilgangoora Project.

The Pilgangoora Project lies 120 kilometres from Port Hedland in Western Australia’s resource-rich Pilbara region.

It is one of the largest hard rock lithium deposits in the world and is considered strategically important within the global lithium supply chain.

Pilbara is undertaking a drilling program to target the under-explored region with aims to optimise and grow the future pit inventory.

Initial results have identified zones of high-grade pegmatite mineralisation adjacent to the tenement boundary.

Pilbara has received results from the first 32 of a 62-hole reverse circulation (RC) drilling program.

Best results include 12 metres at 1.84 per cent lithium oxide and 67 parts per million (ppm) tantalum pentoxide from five metres; and 32 metres at 1.44 per cent lithium oxide and 79 ppm tantalum pentoxide from 159 metres.

Geological modelling is now underway and Pilbara is on track to release an updated mineral resource for Pilgangoora in the September quarter.

“The wide and near-surface intercepts of relatively high-grade mineralisation will go a long way to expanding our mining envelope and pit inventory of the combined South Pit areas,” CEO and Managing Director Ken Brinsden said.

“As we work towards a restart at the Ngungaju Plant, the success of this exploration and drill program and the efforts of our team to further integrate both assets means we can be confident in a bright future for the greater Pilgangoora Operation.”

Pilbara has ended the day 2.76 per cent in the green with shares trading at $1.49 in a $4.2 billion market cap.

PLS by the numbers
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