More Intersections of Spodumene-Bearing Pegmatites at Muvero
This morning, our lithium Investment Tyranna Resources (ASX: TYX), released an update on its drilling campaign at the Muvero prospect in Angola, which outlined numerous intersections of spodumene-bearing pegmatites.
For context, TYX holds a giant ~200km2 pegmatite field hosting over 1,000 independent pegmatites, across a 25x10 km area.
To date, only ~2% of the pegmatites have been explored.
Today, TYX intercepted more pegmatites in the new holes it is drilling currently - MRC04 and MRC05:
We think the intercepts announced today are very encouraging for the company, as it backs up the thesis that the Muvero project is a large spodumene-filled pegmatite field.
TYX are 10 holes into the drill program and has confirmed hits of spodumene in 7 of those holes:
The biggest takeaway from today’s news is that most of the pegmatite intercepts have confirmed spodumene, and typically high-grade lithium mineralisation is found in such spodumene-bearing pegmatites.
Drilling is expected to continue through to June 2024 with first assays due early 2024, in order to grasp the full potential of the prospect.
TYX also said that drilling at Muvero will be increased from 6,000m to 8,000m or more and
continue through 2024 - which we see as a promising sign given early results.
What’s next for TYX?
Drill results from second round of drilling 🔄
With drilling now underway we will be watching for the following:
- During drilling - We want to see more visual spodumene in the drill cores. Spodumene is generally the host rock for high grade lithium, visual spodumene will be a positive first indication of potential economic lithium mineralisation.
- After drilling - This will be all about waiting for the assay result — we’ll be looking for lithium grades above a level that is considered typically economic. These assays are expected early 2024.
We have set up expectations for the assays as follows:
- Bull case (exceptional result) = Lithium grades >1.5%.
- Base case (good result) = Lithium grades 1-1.5%.
- Bear case (poor result) = Lithium grades <1%.
Results from gravity surveys 🔄
Results from rock chip sampling program 🔄
