💥Fed cuts sparks mid cap boom! ProPicks AI scores with 4 stocks +23% each. Get October’s update first.Pick Stocks with AI

MetalsGrove Mining prepares to step-up hunt for lithium at Upper Coondina with drilling imminent

Published 15/11/2022, 11:26 am
© Reuters.  MetalsGrove Mining prepares to step-up hunt for lithium at Upper Coondina with drilling imminent

MetalsGrove Mining Ltd (ASX:MGA) will soon kick off its initial reverse circulation (RC) drilling program at the flagship Upper Coondina Lithium Project in Western Australia, now that a drill rig has arrived at the site.

Phase one will comprise a 3,000-metre drilling program to test priority targets at the Chola prospect after multiple pegmatite corridors were discovered through soil sampling, airborne survey and surface field mapping.

Earthwork contractors have been appointed and work to upgrade access roads, prepare tracks and drill pads has begun.

Drilling by experienced drill contractor Topdrill will begin as soon as site preparations are complete.

At the same time, the critical metals exploration and development company is preparing a new deep ground penetrating radar (DGPR) survey this week to detect pegmatites in known outcrops.

Rapid progress

MetalsGrove managing director Sean Sivasamy said: “We are pleased to be moving to the inaugural drilling program at Upper Coondina, just five months after our successful ASX listing.

“Through soil sampling, surface field mapping and geophysics, we have already identified multiple pegmatite swarms that are prospective for lithium pegmatites over a combined strike length of nearly 4 kilometres.

“This drilling is aimed at confirming the width, depth and mineralisation profile of these pegmatites down to 60 to 100 metres-plus depth.

“We are fortunate to have developed excellent working relationships with all stakeholders at Upper Coondina. These relationships have undoubtedly assisted our rapid progress with the project.”

Historical tin mine

Upper Coondina Project is about halfway between the major mining regional service centres of Port Hedland and Newman, some 200 kilometres northwest and 180 kilometres south-southeast of the project, respectively.

The project comprises a single granted exploration licence covering around 6,363 hectares.

The Greater Shaw Tin Field has attracted exploration interest since the discovery of tin in 1890 but most of the exploration and subsequent mining of tin and tantalum has been on a small scale.

Shaw Tin Field has historically produced more than 6,500 tonnes of tin concentrate but no dedicated lithium-focused exploration has been carried out within the project area.

MetalsGrove is keen to test a historical geochemical sampling with anomalous values up to 253 parts per million lithium oxide at the site to determine its source.

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.