- Red Dirt Metals Limited (RDT) receives first batch of assays from a maiden drilling program at its Mt Ida lithium project in Western Australia
- The initial drilling focused on the outlining of three known existing pegmatites
- The southern pegmatites exhibit extensive strike lengths of more than 500 metres with widths up to 34 metres intersected
- Red Dirt says the pegmatites exhibit a high percentage of lithium-cesium-tantalum bearing minerals
- RDT shares fall 6.67 per cent to 70 cents
Red Dirt Metals (RDT) has reported an encouraging first batch of lithium hits from a continuing maiden drilling program at its Mt Ida project in Western Australia.
The company said the initial assay results were received for 21 reverse circulation (RC) holes out of 122 holes totalling 21,310 metres drilled to date.
Some of the better intercepts included 29 metres grading 1.41 per cent lithium oxide from 199 metres, 23 metres at 1.61 per cent lithium oxide from 162 metres and 16 metres at 1.82 per cent lithium oxide from 92 metres.
Red Dirt said the drilling has been vectoring in on three known pegmatites in the central Mt Ida project area.
Of the 21,310 metres completed since commencement of the drilling program, 924 metres were drilled as HQ diameter diamond core.
The southern pegmatites exhibit extensive strike lengths of more than 500 metres, with intervals up to 34 metres recorded, and a high percentage of lithium-cesium-tantalum (LCT) bearing minerals.
Managing Director Matthew Boyes said the widths and grades from the first batch of assay results demonstrate a “real potential” to grow a significant inventory of lithium-bearing pegmatites in a short period.
“Our aggressive approach is bearing fruit and we intend to keep the exploration production rates moving at a very rapid pace. We are very encouraged to see the diamond rig intersecting widths of up to 34m in the latest diamond hole, confirming the potential tonnage this system possesses,” he said.
Red Dirt said that while known gold zones were not targeted, drilling intersected several
anomalous zones including one metre at 25.3 grams per tonne gold from 248 metres and one metre at 5.93 g/t from 72 metres.
The company said it plans to follow up the gold results in due course.
RDT shares were down 6.67 per cent at 70 cents at 10:40 am AEDT.