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Estrella Resources Ltd.
Summary
| Project: | Mt Edwards | |
|---|---|---|
| Deposit: | Axis | |
| Location: | Australia | |
| Commodities: | Lithium-Beryllium-Caesium-Gallium-Niobium-Rubidium | |
| Date: | 2/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 3-2-2017: Estrella Resources Ltd. announces an Exploration/Drilling Update report for its Axis deposit at the Mt Edwards project. Assay results received for two historic drill cores. The Company announces that is has received assay results from SGS Oretes | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Luke Marshall (Apollo Phoenix Resources Pty Ltd.) | |
| ABSTRACT: | The Company announces that is has received assay results from SGS Oretest for the historic diamond drill core MND1213 and MND1214 that was submitted for analysis for lithium and an accompanying suite of LCT pegmatite elements (See Appendix 2 for full results). The holes were originally drilled to target nickel at the Axis Prospect, which is located approximately 3.4km west of recently discovered lithium mineralisation at the Munda prospect. The drill core contained significant widths of pegmatite, not dissimilar to the initial observations made by other explorers of historic diamond drill core which led to significant lithium discoveries (see ASX release 16 th November 2016 for details). While moderately anomalous in places, assay results have returned relatively low levels of lithium, which has downgraded the Axis Prospect area. Although the location of the granite source of the pegmatites of the MELP area is unknown, these results demonstrate that Axis is possibly not at the optimal distance from the source to produce economic concentrations of lithium. The Company will now focus its upcoming drilling programs at Kingmaker, Atomic Three, Inco Boundary and Munda where it has already obtained highly anomalous lithium results from surface rock chip sampling of exposed pegmatites. The Company looks forward to updating shareholders further as it progresses the MELP. The Company advises that due to heavy rainfall in the immediate project area and surrounds, the maiden RC drilling program at the Mt Edwards Lithium Project (MELP) has been delayed. At this stage, crews have been stood down until next week when it’s expected that the ground conditions will have improved sufficiently for the movement of the heavy drilling fleet and auxiliary vehicles to commence drilling target areas. | |
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