Aurumin Ltd (ASX:AUN) has kicked off a diamond drilling program targeting lithium-bearing pegmatites at Mt Palmer Project, 40 kilometres southeast of Southern Cross in Western Australia.
During sampling, the company logged pegmatites up to 40 metres thick from proximal historical drilling targeting gold.
Aurumin's holes will focus on geochemical multi-element anomalism with lithium results up to 146ppm and tantalum results up to 391ppm.
What's more, the company’s drill program is funded by the Western Australian Government’s Exploration Incentive Scheme (EIS).
“Great potential”
Aurumin managing director Brad Valiukas said: “Mt Palmer is prospective for lithium mineralisation and shows great potential, remaining unfinished business for the company since we announced results from orientation drilling in June last year.
“The EIS funding results from a competitive process and is excellent recognition of the lithium potential at Mt Palmer and the work completed to date.
“We are excited to be drilling these holes and look forward to the results and updating the market.”
About Mt Palmer
Mt Palmer is a small high-grade historical mining complex that was last commercially mined in 1944.
Given its proximity to Wesfarmer’s Mt Holland Lithium Project, the project is also prospective for lithium mineralisation.
Mt Holland held 94.2 million tonnes of proven and probable reserves grading 1.5% lithium as of December 2018, offering a projected output of 45,254 tonnes of battery-grade lithium hydroxide over 47 years of estimated project life.