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Marindi Metals Ltd.
Summary
| Project: | Forrestania | |
|---|---|---|
| Deposit: | Gem | |
| Location: | Australia | |
| Commodities: | Lithium-Iron | |
| Date: | 4/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-4-2017: Marindi Metals Ltd. announces an Exploration/Drilling Update report for its Gem deposit at the Forrestania project. Drilling results incl. 2m @ 0.37% Li2O from 67m. Marindi Metals Limited (ASX: MZN; “Marindi”) provides the following update rega | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Joseph Treacy (Internal) | |
| ABSTRACT: | Marindi Metals Limited (ASX: MZN; “Marindi”) provides the following update regarding completion of the recent exploration program at the Gem pegmatite mining lease at the Forrestania Lithium Project. The drilling at the Gem pegmatite mining lease tested 5 different pegmatite intrusives, with the exception of the Phantom pegmatite, all dipped to the east or were sub vertical. The Phantom pegmatite dipped to the west and this coupled with the westerly drilling direction resulted in the significant original intersection reported in GPRC06 (30m@3% Li2O). Subsequent drilling confirmed the zone to be a maximum of 10m thick and follow up drilling indicated limited depth potential (refer ASX release 27 March 2017). Drilling along strike has verified the limited strike potential with low grade mineralisation being returned from the latest round of drilling. The potential of the mining lease to host significant Li2O mineralisation has been substantially downgraded. The disseminated nickel sulphide target remains to be tested. As reported on 27 March 2017, the first phase of drilling was completed in early March. An initial 13 holes were drilled, all barring hole GPRC21, on the northern portion of the lease. Results above 1% Li2O were returned from holes GPRC25 and GPRC26. After the first round of drilling, a further 9 holes (GPRC 32-40) were drilled at various locations on the northern part of the lease which are shown on the attached plan and detailed in Table 1. | |
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