Tag: Pegmatite Potential

Highlights

• Surface field mapping and rock chip sampling confirms multiple outcropping pegmatite dykes varies from 3m to 30m wide occurring in swarms
• Recently completed program was designed to identify potential extensions of existing mineralisation for upcoming drilling program
• 45 dominating pegmatite formations have been identified – pegmatite dykes strike approximately northeast-southwest within a regional corridor extending 8km
• POW approvals now received for the Upper Coondina lithium project – Heritage survey will be commencing first week of October 2022
• Airborne Magnetic and Radiometric survey is complete
• Maiden drill program is scheduled to commence in Q4
• Upper Coondina is highly prospective for lithium-tin-tantalum and is located in the Pilbara Tier-1 lithium mineral field

Critical metals exploration and development company MetalsGrove Mining Limited (ASX: MGA), (“MetalsGrove” “MGA” or the “Company”), is pleased to announce that a pre-drilling detailed surface mapping program has been completed at the Company’s Upper Coondina Lithium Project located 85 km south-west of Marble Bar in the East Pilbara district of WA.

Initial results highlight multiple outcropping pegmatite dykes occurring in swarms. Pegmatite dykes strike approximately northeast-southwest within a regional corridor extending 8km

Initial observations suggest the pegmatites at Upper Coondina may be part of the same system that hosts the major lithium discovery announced by Global Lithium (ASX: GL1) at its Archer Project to the north-east of our ground, which further underpins the strong lithium prospectivity at Upper Coondina.

Commenting on the confirmation of Upper Coondina’s exciting lithium potential, MetalsGrove’s Managing Director, Sean Sivasamy said:

“We are delighted with the initial outcomes from our detailed surface mapping program at Upper Coondina which has confirmed several outcropping pegmatite dykes. Given this project has never been systematically explored for lithium, we continue to be highly encouraged by these early works.

Importantly, data obtained from the mapping program, and other pre-drilling works completed at site, will be used to develop priority drill targets ahead of planned maiden drill program in Q4. Exploration is continuing apace across our critical metals projects in WA and the NT and we look forward to providing regular updates on progress.”

Drilling planned for the Upper Coondina Lithium Project

A program of approximately 77 RC holes is proposed to test the southern part of Upper Coondina lithium project pegmatites. The field mapping identified the pegmatite swarm, comprising about 45 anastomosing pegmatite dyke that outcrop in an area between 3m and 30m wide within the southern part of the tenement.

Geochemistry helps to prioritise areas at the Upper Coondina

Over 2,500 soil samples were taken from the southern part of Upper Coondina project. The geochemical responses that most likely represent the LCT- pegmatite field, which is a 3km by 8km zone with numerous mapped pegmatite emplacements, are is currently waiting for assay results.

Interpretation of Airborne Survey Data at the Upper Coondina

Recently completed airborne magnetic and radiometric survey will potentially allow identification of new drilling targets and help define the strategy of the next drilling programme. Data processing and interpretation is underway.

Recent Surface field Mapping at the Upper Coondina

The Upper Coondina Lithium Project covers crystalline rocks of Archaean age in which pegmatites are known to contain tin/tantalite and lithium.

The recently completed surface field mapping program covered only the southern half of the project area, with the remaining part of the project area to be mapped in the coming months.

Surface field mapping confirms numerous outcropping pegmatite dykes occurring in swarms and varying in width from 3m to 30m. Additionally, 45 rock chip samples were collected during the field mapping from pegmatite outcrops that were over 3m wide.

The outcropping pegmatite swarms extend for over 8km within the Upper Coondina tenement.

Detailed surface mapping interpretation is underway for upcoming drilling programme.

Upper Coondina Project Background

The Upper Coondina Project is located approximately halfway between the major mining regional service centres of Port Hedland and Newman – approximately 200 km northwest and 180 km south-southeast of the project, respectively.

The Project comprises a single granted Exploration Licence. The tenement covers an area of approximately 6,363 ha and the maximum distance across the project is about 11 km east–west and 8 km north–south. Nearby lithium mines include Wodgina, Pilbara Minerals and recent lithium developer Global Lithium.

Historical Exploration Summary

The Greater Shaw Tin Field has attracted exploration interest since the discovery of tin in 1890. However, most of the exploration and subsequent mining of tin and tantalum has been on the small scale. The Shaw Tin Field, has historically produced more than 6,500 t of tin concentrate.

In 1968, Marble Bar Nickel carried out a rock chip sampling programme covering tenement E45/3699 of the current Hillside CRG (A1714). A 1972 stream sediment sampling programme by Anglo American Services Limited targeting Ni-Cu mineralisation identified a copper anomaly in ultramafic and pillow basalts and another in altered gabbro. Both subsequently found to be insignificant.

In early 1968, the field was largely abandoned after the shallow deposits were soon exhausted. Towards the end of 1968, a local resident discovered further cassiterite mineralisation in cemented alluvium within a largely concealed tertiary drainage channel. In 1983, CSR Limited explored for economic secondary concentrations of tin and tantalum in the area. Their exploration program included follow-up on radiometric anomalies, stream sediment sampling and geological mapping. No discrete localities of anomalous tin could be identified. CSR Limited identified simple pegmatite veins as the sources of the tin.

No dedicated Li-focused exploration has been carried out within the project area, however given historical surface geochemical sampling has returned anomalous values up to 253ppm LiO2, MetalsGrove considers that this untested magnetic anomaly warrants follow-up exploration to determine its source.

The exploration results that are referred to above were included in MetalsGrove’s IPO prospectus dated 13 May 2022 (Prospectus). MetalsGrove is not aware of any new information in respect of these results, and confirms that full details with respect to these results are included in the Prospectus.

About MetalsGrove

MetalsGrove Mining Limited (ASX: MGA) is an Australian-based exploration and development company, focused on the exploration and development of its portfolio of high-quality lithium, rare earth, copper-gold, manganese and base metal projects in Western Australia and the Northern Territory.

MGA is committed to green metal exploration and development to meet the growing demand from the battery storage and renewable energy markets in the transition to a de-carbonised world.

Competent Person Statement – Exploration Strategy

The information in this announcement that relates to exploration strategy and results is based on information provided to and compiled by Sean Sivasamy who is a Member of The Australian Institute of Mining and Metallurgy. Mr Sivasamy is Managing Director and CEO of MetalsGrove Mining Limited.

Mr Sivasamy has sufficient experience which is relevant to the style of mineralisation and exploration processes as reported herein to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

Mr Sivasamy consents to the inclusion in this announcement of the information contained herein, in the form and context in which it appears.

Forward looking statements

This announcement may contain certain “forward looking statements” which may not have been based solely on historical facts, but rather may be based on the Company’s current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.

However, forward looking statements are subject to risks, uncertainties, assumptions, and other factors which could cause actual results to differ materially from future results expressed, projected or implied by such forward looking statements. Such risks include, but are not limited to exploration risk, mineral resource risk, metal price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the countries and states in which we sell our product to, and government regulation and judicial outcomes.

For more detailed discussion of such risks and other factors, see the Company’s Prospectus, as well as the Company’s other filings. Readers should not place undue reliance on forward looking information. The Company does not undertake any obligation to release publicly any revisions to any “forward looking statement” to reflect events or circumstances after the date of this announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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MGA has acquired 100% of Territory Lithium Ltd.

Agreement with Oremin Consultants Pty Ltd. to acquire WA Projects

Heritage Agreements executed with Nyamal Aboriginal Corporation NTBC (Woodie Woodie)

Duplicate agreement executed with Yamatji Marlpa Aboriginal Corporation (Upper Coondina)

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News & Media

• MetalsGrove Mining soars on hitting high-grade rare earths up to 7,000 ppm TREO at Arunta’s Bruce Prospect
• MetalsGrove Mining winds up maiden drilling at Bruce rare earths prospect in Northern Territory
• MetalsGrove Mining has RC drill spinning in maiden Box Hole and Edwards Creek program in NT
• MetalsGrove Mining kicks off maiden drilling of Bruce rare earths bounty
• VIDEO: MetalsGrove could be drilling next week at Bruce prospect

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