Exploration/Development, Lithium, News

Keep an eye on this WA lithium explorer

lithium WA, minres

With the close of the March quarter, Premier1 Lithium has a pipeline of promising lithium projects begging for further exploration.

Premier1 completed the first phase drilling program at its Abbotts North projected in Western Australia during the quarter. A total of 11 reverse circulation holes for 1,623m were drilled to test the main outcropping pegmatites.

Nine of these holes intercepted pegmatites up to 4m in thickness. Assay results showed elevated lithium oxide across the stacked pegmatites of up to 0.41 per cent, confirming the continuation of the lithium-caesium-tantalum system down depth and along strike.

Premier1 has commenced mapping and sampling of pegmatites over the remaining tenement package, with the aim of delineating additional drill targets that have the potential to form a significant lithium deposit.

At the Montague project, the company has identified abundant new pegmatites and has commenced mapping and rock chip sampling.

Premier1 also progressed development works at its other projects, including drill testing its Moonera project for copper and rare earth element potential.

Premier1 announced the departure of chief executive officer Richard Taylor during the quarter. Taylor will step down once a new managing director can be found during the June quarter.

According to Premier1, further additions are planned to be made to the leadership team to align with the new strategy of building a significant junior lithium explorer in WA.

The company also completed a $3 million capital raise during the quarter, and rounded off with $2.02 cash in the bank.

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