Premier1 Lithium Ltd (ASX:PLC) has picked up numerous high-grade gold assays – including more than 128 grams per tonne (g/t)- from first-pass geological mapping and geochemical sampling at its Yalgoo project in Western Australia.
The results were found in multiple prospect areas, including 128.5g/t and 78.9g/t from Crescent East, 106.6g/t from Bourkes United, 54.8g/t found Olive Queen South, 18.1g/t found Mulloo Hill, and 13.1g/t from Broken Mound.
PLC had been running the sampling program across Yalgoo – located in the Murchison region of WA – to enhance the understanding of the geology and controls of gold mineralisation across the project area.
It found strong gold grades in both previously untested areas and proximal to known mineralised trends across multiple prospects; results managing director Jason Froud said was a boon for the company.
“We are very excited by the results which confirm the high-grade gold potential of the Yalgoo Project area,” Mr Froud said after the release.
“Whilst high gold grade results were returned from the known mineralised trends at Olive Queen, Bourkes United and Broken Mount it is important to note many samples are from previously untested areas.
“This includes a new mineralised trend some 500m east of the Cresent prospect, with grades up to 128g/t Au, and at Mulloo Hill, with grades up to 18.1g/t Au. Mulloo Hill is approximately 15km south of the Crescent/Wadgingarra area and presents an entirely new, greenfield target.
PLC has been trading at 0.7 cents.
Join the discussion: See what HotCopper users are saying about Premier1 Lithium and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.