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- Widgie Nickel (WIN) discovers lithium-bearing pegmatites over 600 metres of strike at its Mt Edwards project in Western Australia
- The discovery comes from reconnaissance rock chip sampling over the newly named ‘Faraday’ prospect
- Widgie says the work returned high-grade results from 14 of the rock chip samples, with values reaching up to 3.7 per cent lithium oxide
- Fieldwork is set to begin immediately as the company looks to drill test high-priority targets, and Widgie is also planning detailed mapping and further rock-chip sampling
- Company shares are up 30.85 per cent and trading at 31 cents at 12:14 pm AEDT
Widgie Nickel (WIN) has discovered lithium-bearing pegmatites over 600 metres of strike at its Mt Edwards project in Western Australia.
The discovery comes from reconnaissance rock chip sampling over the newly named ‘Faraday’ prospect in the area.
The samples were taken from an area where historical wide-spaced soil sampling by previous explorers identified a strong lithium anomaly that had not been followed up.
Widgie said the soil anomaly was associated with a granitic intrusion and multiple late-stage pegmatite bodies.
Results from 14 of the rock chip samples returned “high-grade” lithium oxide values of up to 3.7 per cent.
Widgie Managing Director Steve Norregaard said the identification of high-grade spodumene over a significant strike length could not have been a better outcome for the company.
“To think we have 170,000 tonnes of contained nickel and we now can lay claim to hosting
complementary and widespread lithium pegmatites in this world-class lithium corridor,” Mr Norregaard said.
“Widgie looks forward with great anticipation to getting a drill rig on this highly prospective target which will only complement the existing drilling effort on our nickel resources.”
The company plans to kick off field work immediately to drill test high-priority targets.
Detailed mapping and additional rock chip sampling are also planned to better define the strike and dip of the pegmatite body to assist the design of a drilling program.
Company shares were up 30.85 per cent and trading at 31 cents at 12:14 pm AEDT.
