11 Dec 2023

MetalsGrove Mining surges on acquiring high-grade lithium assets in Zimbabwe

MetalsGrove Mining Ltd (ASX:MGA) is trading higher on entering into a strategic agreement to acquire six, contiguous and highly prospective lithium-tin-tantalum claims in Zimbabwe, in what the company considers a “transformational” opportunity.

The newly acquired claims are close to the ‘world-class’ Arcadia Minerals lithium-producing mine in Zimbabwe, which is one of the world’s largest lithium mines producing up to 450,000 tonnes per annum of lithium concentrate.

Notably, five claims are within the well-known Goromonzi lithium belt with the sixth claim located in the Beatrice lithium belt.

Looking ahead, MGA’s technical team is finalising plans for an initial exploration campaign which is due to kick off in the March quarter of 2024.

The markets have welcomed the news with shares trading as high as $0.105, up 40% from the previous close.

“Transformational opportunity”

MetalsGrove managing director Sean Sivasamy said: “MetalsGrove is very excited to be acquiring these advanced lithium assets which provide the company with prime exposure to the proven lithium-producing district in Zimbabwe. 

“Importantly, the upfront acquisition terms are modest, allowing the company to set about rapidly advancing these projects through a targeted exploration campaign early next year.

“Further highlighting the near-term development potential of these projects, we will be located nearby to accessible high-quality infrastructure and a large-scale lithium processing facility.

“The board considers this a transformational opportunity for MGA supported by a strong lithium market and we look forward to advancing these assets as quickly as possible over the coming months.”

Project location (Arcturas and Beatrice projects) 

Asset summary

The new claims spanning 510 hectares are situated across the Arcturas and Beatrice projects, where recent rock chip samples have returned grades up to 2.5% and 2.1% lithium respectively.

Arcturas Lithium Project (ALP) is 35 kilometres northeast of Harare and the Beatrice Project is 55 kilometres south of Harare.

The ALP is also close to the Arcadia Lithium Mine and the Arcturas Gold Mine.

The Arcadia Minerals lithium mine was purchased by Zhejiang Huayou Cobalt in 2022 for US$422 million.

Well-known pegmatite zone

This region is the most well-known pegmatite zone that is mineralised in spodumene, lepidolite, beryllium, tantalum and caesium.

The lithium minerals consist of spodumene and lepidolite-bearing pegmatites and are populated by several artisanal workings and pegmatite surface outcrops.

 The pegmatites are exposed at the surface and close to the surface with some of the pegmatites being flat-lying.

Article Courtesy of Proactive

02 May 2023

MetalsGrove Mining kicks off soil sampling at Bruce REE prospect as maiden drilling imminent

MetalsGrove Mining Ltd (ASX:MGA) has kicked off a soil sampling program at the Bruce Rare Earth Prospect within the company’s Arunta Project, north of Alice Springs in the Northern Territory, ahead of a maiden reverse circulation (RC) drilling program this quarter.

The sampling aims to identify and refine priority drill targets along a 1,000 metre by 600 metre intrusive system identified by recent surface geochemistry work as highly prospective for rare earth element (REE) mineralisation.

The broader Arunta Project area has been known to contain REE anomalism associated with copper-gold and base metal mineralisation.

Geochemistry confirmation

Assays for the initial rock chip sampling of pegmatite and carbonatite outcrops at Bruce have confirmed a geochemistry indicative of REE fertile pegmatites.

Field mapping at Bruce has identified numerous pegmatite dykes and carbonatites outcropping across the project area indicative of elements such as neodymium and praseodymium (NdPr).

Bruce’s geological setting is very similar to the REE discovery at Nolan’s Bore as a NdPr project, and Browns Range, which contains significant dysprosium and yttrium to be considered a heavy rare earth project.

The detailed soil sampling is continuing.

Considerable potential

MetalsGrove managing director Sean Sivasamy said: “We are pleased to have this important next phase of pre-drilling exploration underway at Bruce in the lead-up to our maiden drilling program set to commence this quarter.

“Exploration work to date has outlined considerable mineralised potential at Bruce, in particular comparisons of the rare earth distributions with other projects in the Arunta region – namely Brown’s Range and Nolan’s Bore – are very encouraging.

“The Arunta region is a world-class mineralised province and MGA has a clear strategy in place to systematically unlock the true underlying potential of its strategic footprint in the area.

“I look forward to providing the market with regular updates on our progress.”

Article courtesy of Proactive

19 Apr 2023

MetalsGrove Mining strikes lithium at Upper Coondina

MetalsGrove Mining Ltd (ASX:MGA) has identified several lithium exploration targets in the maiden reverse circulation (RC) drilling program completed at the Upper Coondina Project, 80 kilometres south of Marble Bar in Western Australia.

Assay results from the first phase of drilling at the Chola Prospect have confirmed multiple stacked spodumene pegmatites with anomalous lithium, tantalum and rubidium mineralisation.

One particular drill hole, UCR22033, returned 38 metres at 0.10% lithium oxide (Li2O) from 1 metre; 5 metres at 20 parts per million (ppm) tantalum pentoxide (Ta2O5) from 7 metres; 3 metres at 47 ppm Ta2O5 from 16 metres and 3 metres at 24 ppm from 24 metres; and 7 metres at 685 ppm rubidium oxide (Rb2O), including 2 metres at 1,140 ppm from 24 metres.

The critical metals explorer is planning further exploration using detailed geophysics and structural mapping to find new targets within and outside of the drilling areas and to delineate high-grade lithium-bearing pegmatites.

Phase 1 drilling program completed with drill hole location.

The results are in

The maiden 4,200-metre shallow RC drilling program was carried out at the Chola, Happy Go Lucky and Shaw River lithium prospects, with all holes intersecting high lithium anomalies.

Other notable intersections include:

  • UCR22035 – 13 metres at 0.10% Li2O from 27 metres and 7 metres at 0.10% Li2O from 50 metres and 11 metres at 16 ppm Ta2O5 from 31 metres and 17 metres at 524 ppm Rb2O from 31 metres including 1-metre at 1,285 ppm Rb2O from 40 metres;
  • UCR22012 – 10 metres at 0.10% Li2O from 19 metres and 1-metre at 27 ppm Ta2O5 from 20 metres and 2 metres at 31 ppm Ta2O5 from 46 metres and 2 metres at 831 ppm Rb2O from 19 metres;
  • UCR22018 – 10 metres at 0.10% Li2O from 5 metres and 9 metres at 0.10% Li2O from 38 metres and 9 metres at 20 ppm Ta2O5 from 1 metre and 9 metres at 20 ppm Ta2O5 from 35 metres and 12 metres at 628 ppm Rb2O from surface including 1-metre at 1,296 ppm Rb2O from 1 metre; and
  • UCR22038 – 9 metres at 0.10% Li2O from 5 metres and 12 metres at 0.10% Li2O from 42 metres and 1-metre at 29 ppm Ta2O5 from 3 metres.

A deep ground penetrating radar (DGPR) survey has also defined 23 additional potential pegmatite structures that are connected to existing known mineralised pegmatites.

Spodumene pegmatite intersection samples.

Busy period ahead

“We are very encouraged by the initial outcomes from our Phase 1 RC drilling at Upper Coondina with spodumene-pegmatites intersected in every hole,” MetalsGrove’s managing director Sean Sivasamy said.

“Drilling has given our team a much clearer understanding of the width, tenure and mineralisation profile of the pegmatites and this will play a key role in refining our Phase 2 drilling program.

“Drilling has highlighted shallow, wide intersections of lithium, tantalum and rubidium mineralisation within the Chola Prospect corridor and we will now aim to define the extent and source of the mineralised system.

“MetalsGrove has a busy pipeline of activity planned, with our maiden drilling programme set to commence at our exciting Bruce Rare Earth Prospect in the coming weeks.”

About Upper Coondina

Upper Coondina comprises a single granted exploration licence and covers an area of approximately 6,363 hectares.

The project is about halfway between the major mining regional service centres of Port Hedland and Newman, some 200 kilometres northwest and 180 kilometres south-southeast of the project, respectively.

Nearby lithium mines include Mineral Resources Ltd (ASX:MIN)’s Wodgina, Pilbara Minerals and Global Lithium.

Article Courtesy of Proactive

23 Feb 2023

MetalsGrove Mining eyes strong pipeline of results from critical metals portfolio

MetalsGrove Mining Ltd (ASX:MGA) is advancing a suite of critical metals projects in Western Australia and the Northern Territory with a strong pipeline of results to be delivered over the next 6-8 months.

northern territory mining map

The following are the latest updates from MetalsGrove’s projects:

Upper Coondina Lithium Project – WA

Upper Coondina is a lithium, tin and tantalum project in the highly prospective Pilbara Mineral Field in Western Australia.

The project is near lithium and tantalum producers including Pilbara Minerals Ltd (ASX:PLS) (Pilgangoora Project), Mineral Resources Ltd (ASX:MIN) (Wodgina) and Global Lithium Resources Ltd (ASX:GL1).

Surface mapping and sampling at Upper Coondina have confirmed multiple outcropping pegmatite dykes from 3 to 30 metres wide occurring in swarms.

MetalsGrove’s maiden 4,200 metres reverse circulation (RC) drilling campaign was completed in December 2022 with the first assays due in Q1 2023.

Arunta Project – NT

MetalsGrove has identified advanced rare earth elements (REE), lithium, copper, gold and base metal targets at the Arunta Project in the Northern Territory.

The company is getting ready to start drilling at three priority target areas within Arunta:

  • Bruce Prospect: maiden 3,000-metre drill program to start in Q2 2023 to test the bedrock conductor and historical pegmatite mines;
  • Box Hole Prospect: maiden 2,500-metre drill program to start in Q2 2023 to test the known mineralisation and geophysical targets; and
  • Edwards Creek: maiden 600-metre drill program to start in Q2 2023 to test the known mineralisation down-dip extension and geophysical targets.

Woodie Woodie North Manganese Project – WA

The Woodie Woodie North Manganese Project covers an area of about 13,740 hectares and is adjacent to well-known manganese mines in the Pilbara.

Surface sampling has returned several highly anomalous assays up to 52% manganese with 12 drill-ready walk-up drilling targets defined.

MetalsGrove has planned a maiden 2,500-metre drilling program at Woodie Woodie North in Q3 2023 to test a broad conductor along a major structural corridor.

Article courtesy of Proactive

20 Dec 2022

Metalsgrove Mining (ASX:MGA) wraps up first round of drilling at Upper Coondina, WA

Highlights

  • MetalsGrove (MGA) hits the main target zone at the Chola prospect as part of the first round of drilling at its Upper Coondina project in Western Australia
  • The maiden 4200 metre drilling program was focused on the Chola prospect where earlier soil sampling work confirmed strong potential for lithium and tantalum
  • Drilling was also carried out across the Happy Go Lucky and Shaw River prospects, with assays from the entire phase one program expected in late February
  • Additionally, a deep, ground penetrating radar survey identified 23 potential pegmatite structures connected to existing mineralised pegmatites within the Chola prospect
  • Company shares were up 6.25 per cent, trading at 17 cents at 12:50 pm AEDT

MetalsGrove (MGA) has hit the main target zone at the Chola prospect as part of the first round of drilling at its Upper Coondina project in Western Australia.

The maiden 4200 metre drilling program focused on the Chola prospect where earlier soil sampling work confirmed strong potential for lithium and tantalum.

Drilling was also carried out across the Happy Go Lucky and Shaw River prospects, with assays from the entire phase one program expected in late February.

At the same time, the company completed a deep, ground penetrating radar survey that identified 23 new potential pegmatite structures connected to existing mineralised pegmatites within the Chola prospect.

MetalsGrove’s Managing Director Sean Sivasamy said the survey data is “highly encouraging” and he said the company is “well positioned” to hit the ground running as it heads into the new year.

“We are delighted to have completed our maiden reverse circulation drilling program at the Chola prospect on time and on budget before the end of the year.

“Our first drilling program was designed to confirm the width, tenure and mineralisation profile of the pegmatites, down from 60 to 120 metres plus depths, and we are confident these initial objectives have been achieved.”

While awaiting the assay results, the company said detailed mapping of the area north of Chola, Happy Go Lucky and Shaw River prospects will continue, to further enhance geological modelling.

Survey work has also been planned to continue in the areas north of the prospects to identify any extensions of the undercover pegmatites.

Company shares were up 6.25 per cent, trading at 17 cents at 12:50 pm AEDT.

Article Courtesy of The Market Herald

19 Dec 2022

MetalsGrove Mining concludes 4,200-metre drilling program at Upper Coondina Lithium Project

MetalsGrove Mining Ltd (ASX:MGA) has completed its maiden 4,200-metre reverse circulation (RC) drilling program at Upper Coondina Lithium Project in Western Australia.

The maiden drilling program was designed to test the priority lithium targets at the recently discovered Chola Prospect in the southeast of the main Upper Coondina Project area.

Notably, MetalsGrove has successfully intersected the main target zone at Chola with the first assays expected to be reported in Q1 2023.

Inaugural Drilling at Upper Coondina.

MetalsGrove has also completed a DGPR (deep ground penetrating radar) survey at Upper Coondina.

DGPR is a proven technique for identifying additional pegmatites and establishing a more detailed understanding of subsurface mineralisation.

MetalsGrove managing director Sean Sivasamy said: “We are delighted to have completed our maiden RC drilling program at the Chola Prospect on time and on budget before the end of the year.

“Chola is an exciting structure with soil sampling already confirming the strong lithium and tantalum potential in the region.

“Our first drilling program was designed to confirm the width, tenure and mineralisation profile of the pegmatites, down from 60 to 120m plus depths, and we are confident these initial objectives have been achieved.”

DGPR survey

Ultramag Geophysics was engaged by the company to undertake a DGPR survey to identify pegmatites and investigate subsurface potential for the known, mapped and sampled at the Upper Coondina lithium project.

Excellent signal quality from depths of 30 metres to 100 metres was recorded and a total of 28.5 kilometres of line-data at 50 metres to 150 metres spacing was completed.

The DGPR survey has identified 23 new potential pegmatite structures conjugate with existing known mineralised pegmatites within the Chola Prospect.

Mapped pegmatites with DGPR interpreted pegmatites at the Chola Prospect.

The newly interpreted pegmatites appear to be much wider than the mapped and sampled pegmatites at Chola.

They are also interpreted to start below the surface and extend slightly deeper; orientation is correlated with the known surface outcrop pegmatite.

Sivasamy added: “Our DGPR survey has also highlighted a host of new potential pegmatite structures nearby to the Chola Prospect which is highly encouraging.

“MetalsGrove is well positioned to hit the ground running in early 2023 with a busy pipeline of activity planned across the portfolio.

“We look forward to providing further updates as initial assays from Upper Coondina come to hand early in the New Year.”

Next Steps

  • RC Drill samples have been sent to the laboratory for analysis;
  • continue detailed field mapping in the areas north of Chola, Happy Go Lucky and Shaw River Prospects to further enhance the geological modelling;
  • continue DGPR survey in the areas north of Chola, Happy Go Lucky and Shaw River Prospects to identify potential extensions of the undercover pegmatites;
  • planning for follow-up programs once assay results have been received and interpreted;
  • start planning for heritage surveys prior to drill programs; and
  • planning underway for surface field mapping and sampling.

Article Courtesy of Proactive Investors

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19 Dec 2022

Phase One Drilling Programme Complete – Upper Coondina Lithium Project

Critical metals exploration and development company MetalsGrove Mining Limited (ASX: MGA), (“MetalsGrove” “MGA” or the “Company”), is pleased to announce that it has completed its maiden 4,200m Reverse Circulation (“RC”) drilling programme at the Upper Coondina Lithium Project, located 80 km south of Marble Bar.

Highlights

  • 4,200m Phase 1 drilling programme completed at the Chola, Happy Go Lucky and Shaw River Lithium Prospects – on time and on budget
  • High priority Chola Prospect is a pegmatite corridor measuring approx. 4.0 km x 2.0 km
  • Previously completed first pass soil sampling assay results at Chola Prospect confirm strong lithium and tantalum potential
  • Deep Ground Penetrating Radar (DGPR) survey has identified 23 new potential pegmatite structures conjugate with existing known mineralised pegmatites within Chola Prospect
  • DGPR is proven to be highly effective for identifying pegmatites in previous known pegmatite outcrops
  • First drilling assays are expected to be reported in late February

This maiden drilling programme was designed to test the priority lithium targets at the recently discovered Chola Prospect in the south-east of the main Upper Coondina Project area (see Figure 1 and Figure 2 below). The Company can report that drilling has successfully intersected the main target zone at Chola with first assays expected to be reported in Q1 2023.

MGA is also pleased to confirm the completion of a DGPR survey at Upper Coondina. DGPR is proven technique for identifying additional pegmatites and establishing a more detailed understanding of subsurface mineralisation.

Commenting on the completion of the maiden drilling programme at Upper Coondina, MetalsGrove’s Managing Director, Sean Sivasamy said:

“We are delighted to have completed our maiden RC drilling programme at the Chola Prospect on time and on budget before the end of the year. Chola is an exciting structure with soil sampling already confirming the strong lithium and tantalum potential in the region. Our first drilling programme was designed to confirm the width, tenure and mineralisation profile of the pegmatites, down from 60 to 120m plus depths, and we are confident these initial objectives have been achieved.

Our DGPR survey has also highlighted a host of new potential pegmatite structures nearby to the Chola Prospect which is highly encouraging.

MetalsGrove is well positioned to hit the ground running in early 2023 with a busy pipeline of activity planned across the portfolio. We look forward to providing further updates as initial assays from Upper Coondina come to hand early in the New Year.”

Figure 1 – Inaugural Drilling at Upper Coondina

Deep Ground Penetrating Radar (DGPR) survey

Ultramag Geophysics was engaged by the Company to undertake a DGPR survey to identify pegmatites and investigate subsurface potential for the known, mapped and sampled at Upper Coondina lithium project.

Excellent signal quality from depths of 30m to 100m was recorded and a total of 28.5 km of line-data at 50m to 150m spacing was completed.

The DGPR survey has identified 23 new potential pegmatite structures conjugate with existing known mineralised pegmatites within the Chola Prospect.

During the first phase drilling programme, MGA tested approximately 50% of the DGPR anomaly, and the untested anomaly will be drilled during the next phase of drilling programme.

DGPR is a geophysical technique similar to seismic that emits very short pulses of electromagnetic (EM) radiation into the ground via a transmitter, measuring the reflected energy in a receiver to produce profiles of subsurface resistivity.

Figure 2– Showing mapped pegmatites with DGPR interpreted pegmatites at the Chola Prospect.

The DGPR survey was planned to test the extensions at depth of existing surface-mapped, known lithium-rich pegmatites; and potential to identify additional blind pegmatites.

The new interpreted pegmatites, shown in green in Figure 2, appear to be much wider than the mapped and sampled pegmatites at Chola. They are also interpreted to start below the surface and extend slightly deeper; orientation is correlated with the known surface outcrop pegmatite.

Figure 3: Section Through A-A’ from Figure 1 DGPR Survey interpretation at Chola
Figure 4: Section Through B-B’ from Figure 1 DGPR Survey interpretation at Chola

Next Steps

  • RC Drill samples have been sent to the laboratory for analysis.
  • Continue detailed field mapping in the areas north of Chola, Happy Go Lucky and Shaw River Prospects to further enhance the geological modelling.
  • Continue DGPR survey in the areas north of Chola, Happy Go Lucky and Shaw River Prospects to identify potential extensions of the undercover pegmatites.
  • Planning for follow-up programmes once assay results have been received and interpreted.
  • Commence planning for heritage surveys prior to drill programmes.
  • Planning underway for surface field mapping and sampling.