LNR confirms outcropping pegmatite at its WA lithium project

Our exploration Investment, Lanthanein Resources (ASX: LNR), just put out an update from its Lady Grey lithium project in WA.

LNR’s project sits ~400m to the west of the Early Grey deposit (Mt Holland) lithium project owned by Wesfarmers and SQM.

For some context - Wesfarmers paid $776M for its share in the project back in 2019 at the bottom of the lithium market and has since spent billions of dollars developing the project.

The project is expected to be producing next year.

Here is the image from today’s announcement shows just how close the project is to LNR’s ground:

This morning LNR confirmed the presence of an outcropping pegmatite around its project area, which is important for what LNR is chasing at this project.

LNR’s exploration theory is to drill down depth at its project, where it expects to find an extension to Wesfarmer’s/SQM’s deposit.

Below is what LNR’s drilling will look to achieve - the red being the Earl Grey deposit and the green being the extensions LNR is looking for to the west.

To see our deep dive note on LNR’s WA lithium project check out the following: LNR farms into ground 400m from one of Australia’s largest lithium mines currently being built

What’s next for LNR?

Drilling (February to March) 🔲

LNR has a permit in place to drill ~193 Aircore and 50 RC drillholes on the project.

LNR expects to start drilling in Feb-March.

Heritage approvals for expanded drilling 🔲

If initial results are good enough, we expect LNR to seek heritage approvals for additional drilling.

Soil sampling across other targets 🔲

LNR intends to conduct soil sampling to help firm up additional targets across the project.