- Shree Minerals (SHH) identifies potential for lithium-bearing pegmatites at the Dundas project in WA
- The company has completed a review over the project to target gold mineralisation, however it has also found potential for lithium pegmatites through evidence of historical drilling intersecting pegmatites which weren’t assayed
- These intersections are also near to Liontown Resources (LTR) Buldania lithium project which Shree believes is a good sign
- Shree plans to conduct auger soil sampling and drilling at Dundas to test the gold potential of the greenstone belts and the lithium potential of the pegmatites
- SHH shares are up 10 per cent to trade at 1.1 cents
Shree Minerals (SHH) has identified potential for lithium-bearing pegmatites at the Dundas project in Western Australia.
The Dundas Project comprises three exploration licence applications including E63/2046, E63/2048 and E63/2136. The project is located 44 kilometres east of Norseman in the Albany-Fraser province that hosts the Tropicana gold deposit.
The company conducted a review of the project which initially targeted the presence of gold mineralisation. Positively for the company, it not only found gold mineralisation but also the potential for lithium pegmatites.
In the 1990s, Pan Australian Exploration conducted drilling which intersected gold mineralisation associated with the remnant greenstone belts. Many of the holes also intersected pegmatites despite them not being the target of the exploration at the time. As a result, the pegmatites weren’t assayed for lithium or lithium pathfinder elements.
The pegmatites were intersected in most of the traverses drilled by PanAust that extend over a north-south strike length that spans 12 kilometres within E63/2046.
Shree Minerals considers these intersections to be potentially significant as they’re in close proximity to Liontown Resources’ (LTR) Buldania lithium project that contains the Anna lithium prospect with a mineral resource of 14.9 million tonnes at 0.97 per cent lithium dioxide and 44 parts per million tantalum pentoxide.
The Dundas Project is also located near Metal Hawk’s Beaker gold prospect where a shallow, high-grade gold discovery was made in 2011.
The company plans to conduct auger soil sampling and drilling at Dundas to test
both the gold potential of the greenstone belts and the lithium potential of the pegmatites. The samples will then be assayed for a lithium pathfinder suite of elements as well as gold.
SHH shares were up 10 per cent to trade at 1.1 cents at 1:29 pm AEDT.