Australia Stock Exchange-listed mining and exploration junior Prospect Resources has reported a significant discovery from the Phase 3 diamond drilling programme at its Step Aside Lithium Project in Goromonzi.
According to Prospect Resources, two scout drill holes (CDD055-056) targeting the new “WinBin” zone at Step Aside return wide intercepts of strongly mineralised pegmatite from shallow depths with CDD055 returning assays showing 23.08m @ 1.03% Li2O from 45m, including 11m @ 1.51%Li2O from 54m.
“Scout drilling in the area south of the Pegmatite Band Cdepositsreturned a 25.73m intersection of pegmatite (from a vertical depth of 36m) in angled diamond drill hole CDD055. Visual logging of the core from CDD055 showed strong lithium mineralisation with abundant coarse spodumene crystals evident. Assaying of this core has returned an interval of 23.08m @ 1.03% Li2O from 45m, including 11m @ 1.51% Li2O from 54m.
“Upon initial submission of this core for assay, a follow-up vertical drill hole, CDD056, was collared 2m to the west of CDD055 and drilled to ascertain an orientation of the newly discovered pegmatite. CDD056 intersected a similar, approximately 40m wide section of coarse-grained, spodumene mineralised pegmatite, commencing from 77.8m down hoe. This indicates a dip of approximately 60° to the west at this location,” Prospect said.
According to Prospect Resources Managing Director and CEO Sam Hosack Step Aside represents an exciting discovery in a zone that was targeted for scout drilling following identified Li-in-soil anomalism, strong proof of targeting methodology.
He said the current results potentially represent a feeder zone for the defined spodumene mineralisation identified further to the north during the earlier phases of drilling at Step Aside.
He said his company will Accelerate follow-up drilling as part of an expanded Phase 3 diamond drill programme comprising approx. 5,000m (currently just over 60% complete), with two rigs now on site.
“We are very excited by the potential of this new, buried pegmatite discovery at Step Aside. Prompt follow-up drilling of WinBin is underway and we look forward to rapidly increasing this new opportunity. I would like to congratulate the entire Prospect exploration team for their diligent work and perseverance in delivering this discovery, providing clear evidence of the success of our geochemical targeting and validation of our process,” Hosack said.