- Shares in Bulletin Resources (BNR) were up as much as 61.8 per cent after identifying multiple lithium targets at the Ravensthorpe Lithium Project
- Previous work identified a series of pegmatites with only one subject to follow-up exploration and returning up to 2.91 per cent lithium oxide
- Upcoming work will be undertaken to determine the potential for additional pegmatites and define high-grade mineralisation areas
- This work will consist of mapping and substantial surface soil and rock chip sampling
- Shares in Bulletin are still up 61.8 per cent and are trading at 11 cents at 12:01 pm AEST
Shares in Bulletin Resources (BNR) were up as much as 61.8 per cent after the company identified multiple lithium targets at the Ravensthorpe Lithium Project.
Located in Western Australia, the 57-square-kilometre project hosts several pegmatite outcrops with previous work identifying a series of pegmatites with only one subject to follow up exploration.
Previous sampling of the lepidolite-spodumene has returned a result of 10 metres at 1.1 per cent lithium oxide including one metre at 2.91 per cent lithium oxide.
The Deep Purple, Eastern and Quarry pegmatites are yet to be tested, however, all have been subject to previous work.
Mapping at Deep Purple has reported weathered a spodumene rock chip sample grading 6.6 per cent lithium oxide while rock chipping at the Eastern Pegmatite showed minimal lithium grades.
Lithium mineralisation at Quarry is hosted within massive zinnwaldite and lepidolite mineralisation which are believed to make up 30 per cent of the pegmatite.
The Ravensthorpe district is well known for gold mineralisation, however, the potential at the Ravensthorpe Project is yet to be tested.
Upcoming work will be undertaken to determine the potential for additional pegmatites and define high-grade mineralisation areas.
This work will consist of mapping and substantial surface soil and rock chip sampling.
A Phytophthora disease (dieback) management plan has been developed and sent to the Department of Mines, Industry Regulation and Safety (DMIRS) for approval before on-ground work begins.
Shares in Bulletin were still up 61.8 per cent and were trading at 11 cents at 12:01 pm AEST.