Dynamic Metals Ltd (ASX:DYM)’s initial soil sampling at the Spargos East prospect, a key component of its extensive Widgiemooltha Project in Western Australia, is bearing fruit.
Substantial lithium concentrations
The company's exploration efforts have yielded substantial lithium concentrations with soil assays showing up to 409 parts per million (ppm) Li2O.
These findings are further bolstered by significant rubidium, tantalum and caesium results, which point to a potentially rich lithium-caesium-tantalum (LCT) type pegmatite presence.
Dynamic's comprehensive reconnaissance program across its project portfolio has garnered some 880 soil samples from the Spargos East and Franks Far Southeast prospects.
The first batch of 300 assays from Spargos East has revealed a strong and consistent lithium trend, with concentrations exceeding 60 ppm lithium.
The highest assay registered 190 ppm lithium, equivalent to 409 ppm Li2O. Alongside this were notable amounts of rubidium (up to 492 ppm), tantalum (up to 57 ppm) and caesium (up to 64 ppm), which give Dynamic confidence in the prospect's diverse mineral potential.
Spargos East sits within the prolific Widgiemooltha area, known for its lithium belt and proximity to established spodumene deposits. It joins the recently identified lithium target at Pioneer Dome West.
The area is recognised for hosting several notable projects, including Mt Marion, Bald Hill and Buldania, all of which give significance to Dynamic's recent findings.
It’s also close to mining infrastructure, being only 14 kilometres south of Mineral Resources’ Mt Marion lithium mining and processing operations.
Next up, Dynamic Metals is set to embark on an infill soil sampling phase to refine potential drilling targets for 2024.
This step will allow the company to refine its assessment of the mineral richness of the area and determining the feasibility of mining operations.
The company also plans to review and fulfil any necessary permitting requirements in preparation for the anticipated drilling activities.
Growing lithium significance
The Widgiemooltha Project, encompassing Spargos East, is increasingly becoming a focal point in Australia's lithium exploration landscape.
Its proximity to key lithium projects and operations positions Dynamic Metals in a favourable spot to capitalise on the growing demand for lithium, a critical component in the burgeoning electric vehicle and renewable energy sectors.