Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Kali Metals restarts soil sampling and remains on track for lithium drilling this half

Published 22/01/2024, 02:41 pm
Kali Metals restarts soil sampling and remains on track for lithium drilling this half

Kali Metals Ltd (ASX:KM1) has restarted its large-scale soil sampling program at the Higginsville Lithium District in Western Australia, with its first lithium-focused drilling program at its Spargoville Project on track to begin in the first half of 2024.

The upcoming soil program is set to encompass more than 20,000 geochemical soil samples, spread across multiple projects. However, it will cover just 25% of the total tenement area.

This strategic approach paves the way for subsequent soil programs to effectively target potential strike extensions related to emerging lithium results.

Results from the program will be used to generate targets for future drilling programs.

Higginsville Lithium District showing the company’s initial soil program coverage.

Soil program to run through 2024

Kali's initial soil program, launched in December 2023, first focused on the Spargoville Project, following the discovery of spodumene-bearing pegmatites. Additionally, the program extended to a compact northern section of the Widgiemooltha Project, where ground mapping identified lithium-caesium-tantalum (LCT) pegmatites spanning a 1-kilometre strike.

After a brief hiatus over the holiday season, the program has resumed and is set to continue throughout the better part of 2024, expanding its reach to encompass multiple projects within the Higginsville Lithium District.

Team to analyse historical drill data

A dedicated project team is being established to examine the extensive historical drilling database at Higginsville. Previous database assessments identified pegmatites in 755 lithological line items, each more than 10 metres long. Intriguingly, these pegmatites have never been analysed for lithium.

The team's focus on database analysis and re-assay will enable the identification of actual lithium intersections from past drilling. If the reassessment of previous drilling uncovers lithium results, the data will be integrated with the current soil sampling program outcomes, facilitating a three-dimensional interpretation of areas with lithium potential.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

This comprehensive approach, combining drilling results and surface soil data, will guide the planning of the next series of drilling programs in the Higginsville Lithium District.

Important step forward

“This is an exciting time for the company as this soil program will be the first fieldwork undertaken in 2024 and is an important step forward in the company’s systematic exploration program planned for the Higginsville Lithium District," Kali’s general manager of geology Stuart Peterson said.

"The soil program and the database analysis program will form the basis for the first drill program and allow regular reporting of results.

“The ability to model lithium intervals at depth by re-assaying data contained in the historic Higginsville Lithium District drilling core is a significant advantage to the company.

"This data, generated through historical drilling, will be combined with the surface soil anomalies, enhancing the company’s ability to identify prospective lithium targets. This not only improves the accuracy of the drill targets but also saves the company significant time and resources.

“We are delighted that this program has now recommenced and look forward to updating the market on our findings as they become available.”

Spargoville Project showing soil program outlines and rock chip results.

Extensive portfolio in lithium fields

Kali boasts one of the most expansive and promising exploration portfolios across Australia's leading hard-rock lithium fields. Its exploration tenure, spanning 3,854 square kilometres, is strategically situated near current, emerging and uncharted lithium and critical minerals regions in Western Australia, including the Pilbara and Eastern Yilgarn, as well as the Lachlan Fold Belt in New South Wales and Victoria.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Kali's team comprises highly skilled professionals dedicated to exploring and developing viable lithium resources within its prospective tenements. Additionally, the team is actively seeking new strategic assets to enhance the portfolio.

Lithium's pivotal role in manufacturing electric vehicles and renewable energy storage systems underscores its growing importance. With these industries experiencing rapid expansion, lithium demand is forecast to rise substantially. Kali is committed to contributing significantly to this demand and supporting the global clean energy transition.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.