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Estrella Resources Ltd.
Summary
| Project: | Mt Edwards | |
|---|---|---|
| Deposit: | Atomic Three | |
| Location: | Australia | |
| Commodities: | Lithium-Beryllium-Caesium-Gallium-Niobium-Rubidium | |
| Date: | 2/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-2-2017: Estrella Resources Ltd. announces an Exploration/Drilling Update report for its Atomic Three deposit at the Mt Edwards project. Drilling results incl. 5m @ 0.65% Li2O, 189ppm Cs, 54ppm Ta from 72m. Estrella Resources Limited (ASX: ESR) (Estrel | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Luke Marshall (Apollo Phoenix Resources Pty Ltd.) | |
| ABSTRACT: | Estrella Resources Limited (ASX: ESR) (Estrella or the Company) is pleased to inform shareholders that its first drill holes targeting lithium have been successful in locating a high-grade lithium bearing pegmatite. The hole was located at the Atomic Three prospect where the company previously obtained a high-grade surface sample of 2.2% Li2O. The second drillhole at Atomic Three has returned encouraging assay results, confirming the presence of a lithium bearing pegmatite body, which is named Alpha Pegmatite. MERC0002 intersected 6m at 0.58% Li2O, including 1m at 2.48% Li2O, with spodumene observed in the drill cuttings. MERC0001 returned weakly anomalous values on the hangingwall contact of the pegmatite. The pegmatite was highly weathered in MERC0001 and this may represent a leached zone. Drilling has defined a lozenge shaped body of pegmatite on the first drill section, with a surface expression of approximately 5m thick, widening to 15m thick at 20m below surface before tapering off again, but more drilling is required to confirm this interpretation. Alpha pegmatite is untested beyond 65m vertical from surface and appears to be open in all directions. Company C.E.O. Mr Chris Daws stated “The Company is very excited that we have been able to locate spodumene bearing pegmatite at the MELP of considerable grade in our maiden drilling program. We are now determined to locate a larger body of this high-grade lithium which could hopefully lead to our first lithium resource.” | |
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