Neometals has dug through historical nickel assays to discover the potential for lithium mineralisation at its Spargos project in Western Australia.
In conducting a review of historic surface mapping, and reverse circulation (RC) and diamond drilling at Spargos, Neometals said it has visually identified spodumene mineralisation and the potential for multiple stacked pegmatite intrusions.
Of the 29 diamond core holes in the database, 20 holes recorded pegmatites.
Neometals managing director Chris Reed said the findings were “serendipitous”.
“We are excited by this discovery, the presence of fertile, spodumene-bearing pegmatites in diamond core from historic nickel exploration is serendipitous,” he said.
“The geological model is reminiscent of our former Mt Marion project and analogous to significant deposits further north up the Mt Ida fault. It is important to note that there has been no historic or recent drilling for lithium.
“Whilst Neometals’ core focus remains the commercialisation of our downstream battery materials technologies, our senior executives have the capacity and expertise to maximise value from what could be an exceptional upstream lithium opportunity.”
Spargos is located in a busy lithium district also including Mineral Resources’ Mt Marion lithium operation, Liontown Resources’ Kathleen Valley lithium project, and Delta Lithium’s Mt Ida project.
Kathleen Valley and Mt Ida hold geological comparisons to Spargos given their close proximity to the Mt Ida fault.
Neometals has sent relevant assays to the laboratory for testing and is undertaking a review into potential exploration over the Spargos tenement.
The company’s primary business is battery materials processing and recycling, with a 50 per cent stake in a lithium-ion battery recycling project, a 72.5 per cent interest in a vanadium recovery venture, and a 35 per cent stake in a lithium hydroxide project.
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