Riversgold Ltd (ASX:RGL) has the reverse circulation drill spinning to test for lithium at the Earl Grey Prospect within its Mt Holland Project adjacent to the globally significant Mt Holland Lithium Project being developed by Covalent Lithium.
The maiden Earl Grey drilling campaign will comprise eight holes for around 2,000 metres with the areas being drilled immediately adjacent to and potentially down dip of Covalent’s mine in the Marvel Loch region of Western Australia.
This drilling on tenement E77/2784 will test the potential for strike and depth extension of the Earl Grey Deposit1 and the lithium mineralisation adjacent to the Bounty Gold Mine.
Attractive location
Riversgold’s CEO Julian Ford said: “RGL’s Earl Grey Prospect’s attraction lies in its proximity to the existing orebody currently being mined by SQM and Wesfarmers (ASX:WES) under the Covalent JV.
"Most of our drilling will centre around the Bounty Gold Mine but we are planning a number of holes east of a line between the Earl Grey Lithium Deposit and the historical Bounty Gold Mine where sterilisation drilling by Kidman intersected multiple high-grade spodumene intersections.”
Location of Earl Grey Prospect planned drilling.
About Earl Grey
The Earl Grey deposit is now owned by the joint venture company, Covalent Lithium, with owners SQM and Wesfarmers 50:50 partners.
Kidman Resources Ltd drilled out the Earl Grey deposit in 2016, with the drill assay results published between September 2016 and December 2016.
Kidman declared an initial mineral resource on December 5, 2016, of 128 million tonnes of indicated and inferred Resources at 1.44% Li2O.
This was subsequently updated on March 19, 2018, to 189 million tonnes at 1.50% Li2O of measured, indicated and inferred mineral resources.