Lithium Australia discovers lithium pegmatites at Medcalf
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Lithium Australia NL (ASX:LIT) reports that it has identified lithium pegmatite swarms at the Medcalf Lithium Project.
Medcalf is located in the southeast part of the Lake Johnson Project in the highly lithium-prospective Yilgarn Block in WA — some 45 kilometres south-east of LIT’s existing Mt Day Lithium Prospect area.
The lithium pegmatites of the Yilgarn Block are attracting investment from some of the world’s largest lithium companies. It hosts major lithium deposits at Earl Grey (Kidman Resources and SQM) Mt Marion (NeoMetals, Gangfeng and Mineral Resources) and Mt Cattlin (Galaxy).
All of these deposits, including Medcalf and Mt Day, have similar geological features. The pegmatites emanate from nearby fertile granites and are injected into adjacent greenstones.
An initial geological reconnaissance programme was conducted after interpretation of aerial photographs last year highlighted the potential for multiple pegmatites. Outcropping pegmatites were identified at Medcalf during subsequent field inspections in April 2018.
Recent geological mapping, and sampling confirmed some of these pegmatites as LCT (lithium, caesium, tantalum) types. Pegmatite swarms containing spodumene mineralisation outcrop in a zone of some 100 metres by 50 metres in area, within a larger area of pegmatites of 250m wide by 500 metres long.
Initial rock-chip samples are prospective with grades ranging from 3.07% lithium oxide (Li2O) up to 4.78% Li2O and one spodumene only specimen sample grading 7.15% Li2O.
Of course, as with all minerals exploration, success is not guaranteed. Consider your own personal circumstances before investing, and seek professional financial advice.
Field inspection identified a pegmatite swarm centred upon the highest hill in the area, where at least five pegmatites were located — all contain spodumene. The prospect area has moderate to low topographic relief and there’s potential for additional pegmatites under cover.
The main target area contains pegmatites presenting as a dyke swarm comprised of numerous pegmatites in a zone about 250m wide and at least 500m long. The outcrops of individual pegmatites range from about 2m to 10m in width and 50m to 150m in length.
The pegmatites appear to dip at moderate to steep angles towards the southwest, and appear to have true-thicknesses of about five metres and are relatively close together with only a few metres separating individual pegmatites.
The image below provides an example of outcropping pegmatite at the Medcalf Lithium prospect area. Alignment and layering of spodumene crystals indicating directional growth during formation of the pegmatites are evident in this outcrop. The image also shows the location of one of the reconnaissance rock chip samples ‒ ME6 ‒ which returned an assay of 3.13% Li2O.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
