Three projects – Picasso (Western Australia – WA), Litchfield (Northern Territories – NT) and Alcoota (NT) all of which are in regions with proven lithium mineralisation and supportive mining infrastructure
The Litchfield project (license granted), located near Darwin (NT), is contiguous to Core Lithium’s (ASX: CXO) ground and has a JORC compliant mineral resource of 8.55Mt @ 1.33% Li2O for its Finnis project (for all six deposits)
Finally, the Alcoota project (license to be granted) is circa 145km NE of Alice Springs (NT) and has seen comparatively limited exploration, though significant geochemistry samples from 10km south of the project returned assays of 10.2% & 9.6% Li2O, with evidence suggesting there is a pegmatite zone within tenure prospective for lithium mineralisationInitial site visit and reviews by Cadence have confirmed multiple pegmatite outcrops across the six claims.
Historic mines proximate to the claims have produced lithium oxide (“Li2O”) at grades ranging from 4.5% to 6.5%.
Future Work Program
We are looking to evaluate and define the most prospective targets across the areas. Initially, this will focus on geological mapping, mineralogical studies of exposed pegmatites and the mapping and any newly identified historical workings.
This will be followed by an extensive sampling programme to identify any potential mineralisation, after which we can develop a drill programme with a target of identifying a JORC code compliant economic resource.