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Neometals Ltd.
Summary
| Project: | Mt Marion | |
|---|---|---|
| Deposit: | Mt Marion | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 8/11/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-8-2016: Neometals Ltd. announces an Exploration/Drilling Update report for its Mt Marion deposit at the Mt Marion project. JV with Mineral Resources Ltd., Ganfeng Lithium Co. Ltd. - drilling results released from project. Neometals Ltd (ASX: NMT) (“Neo | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Derrick Kettlewell (Mineral Resources Ltd.) | |
| ABSTRACT: | Neometals Ltd (ASX: NMT) (“Neometals”), Mineral Resources Limited (ASX: MIN) and Ganfeng Lithium Co., Ltd (SZSE: 002460) are pleased to provide an update on significant exploration results at the Mt Marion Lithium Project (‘Mt Marion’). On 8 August 2016, the Phase 2 RC Drilling Program at Mt Marion was completed for a further 147 drill holes totalling 21,179 metres. The Phase 2 Program commenced on 16 May 2016 and concludes the current 2015‐16 RC Program with 558 RC holes drilled for a total of 60,901 metres. Results to date have been positive with significant increases in the previously defined shallow, west dipping, spodumene‐bearing pegmatites at Area’s 1, 2, 2 West, 4, and 6. At Area 2 West RC drilling further defined the bounds of the deep, sub vertical pegmatite ‘feeder’ previously reported in the March ASX Quarterly. This unit is a 40 to 80 metre (horizontal width) spodumene bearing pegmatite with a continuous vertical thickness up to 370 metres (e.g. MMRC0415: Pegmatite from 149‐519 metres), and a strike length of up to 350 metres (SSW‐NNE). The unit remains open at depth to the north. Phase 2 diamond drilling recommenced at Mt Marion on 9 June 2016 targeting deep mineralisation at Area 2 West through the drilling of diamond tails on existing RC drill holes. To date, 12 diamond tails have been completed for a total of 2,050 metres. The diamond drilling program is ongoing. On completion of diamond drilling, and all associated assays, and due QA/QC process Snowden have been engaged to update the Mount Marion Resource. | |
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