07 Nov 2022

MetalsGrove Mining fields high-grade lithium tantalum assays in soil samples at Upper Coondina in WA

“All necessary approvals have now been finalised and we are aiming to have the drill rig spinning in late November to test this suite of initial targets as we finish the calendar year with momentum,” said MD Sean Sivasamy.

MetalsGrove Mining Ltd (ASX:MGA) is encouraged by a recent pre-drilling exploration program that confirmed multiple pegmatite corridors and identified potential drilling targets at its flagship Upper Coondina Lithium Project in WA.

The fieldwork, consisting of soil sampling, airborne survey and surface field mapping, revealed a corridor containing multiple pegmatites coincident with the source area and with surface geochemistry.

Geochemistry defines targets

More than 2,500 soil samples were taken from the southern part of Upper Coondina’s Chola prospect. The geochemical responses and surface field mapping identified strong LCT-pegmatite anomalies.

Soil-sample assays returned 670 parts per million (ppm) lithium dioxide and 103 ppm tantalum.

Multiple outcropping pegmatite dykes occur in swarms with the pegmatite dyke-strike around 8 kilometres by 4 kilometres.

Initial observations suggest Upper Coondina has two generations of pegmatite – G1 and G2 – which host the lithium mineralisation found within the Pilbara lithium field.

MGA also believes Upper Coondina may be part of the same system that hosts the major lithium discovery announced by Global Lithium Ltd, in a similar geological setting to Pilbara Minerals north of MGA’s ground.

Expanding horizon of pegmatites

The company’s first priority drill target will be the Chola prospect – an “expanding horizon of pegmatites” along a corridor measuring roughly 4 kilometres by 2 kilometres – which it plans to start drilling in the fourth quarter of the year.

MetalsGrove managing director Sean Sivasamy said: “We are delighted with the assay results from our pre-drilling soil sampling which has confirmed the high-grade lithium potential of Upper Coondina.

“Our technical team has also used this data to refine our priority drill targets starting with the Chola prospect, which is shaping up to be an exciting structure.

“All necessary approvals have now been finalised and we are aiming to have the drill rig spinning in late November to test this suite of initial targets as we finish the calendar year with momentum.”

Next steps

The company expects more soil sample assay results to flow in over the coming weeks.

These results will allow the company to define more drilling targets to test the outcropping pegmatites at depth, to confirm their orientation and the extent of any high-grade lithium mineralisation continuing below surface.

Earthworks for the upcoming maiden lithium drill program are scheduled to commence in mid-November 2022, with drilling to kick off in late November.

Article Courtesy of Proactive

07 Nov 2022

MetalsGrove hits lithium in soil samples at WA project ahead of November drill run

MetalsGrove Mining (ASX:MGA) has today boosted its own confidence, and that of its shareholders, in the company’s WA-based Upper Coondina lithium project; with new soil sample assay results confirming the presence of lithium. 

Key Points

  • Soil samples have been assayed from MetalsGrove’s Upper Coondina project in WA
  • Results show 0.06% lithium; 0.01% tantalum
  • Results might not be jaw dropping, but, lithium in soil confirms prospectivity of larger known pegmatite system

While grades logged in the soil samples are broken down into parts per million (concentrations are under 1%,) the confirmation of lithium and tantalum in surface samples confirms the prospectivity of the acreage. 

Around 2,500 samples were collected earlier this year and build on perceptions broad pegmatite mineralisation is present underground.

MetalsGrove fieldworkers earlier this year confirmed the presence of a pegmatite system present in the tenement which are slated for drilling before the year is through. 

Known pegmatites the real people pleaser 

The initial priority target of upcoming drilling will be the Chola prospect, a pegmatite corridor around 4km x 2km in size. Chola is located in the southeastern corner of the project tenement, E45/5952. 

MetalsGrove its hopeful it can replicate the discoveries of Global Lithium (ASX:GL1) and Pilbara Minerals (ASX:PLS) in its own upcoming drill run, given that both competitors have acreage nearby. 

MetalsGrove considers its acreage as overlying “the Pilbara lithium field.” Its exploration team predict there are “two generations of pegmatite” to be exploited. 

Drilling set to kick off before December 

“All necessary approvals have now been finalised and we are aiming to have the drill rig spinning in late November to test this suite of initial targets as we finish the calendar year with momentum,” MetalsGrove MD Sean Sivasamy said. 

“We are delighted with the assay results from our pre-drilling soil sampling which has confirmed the high-grade lithium potential of Upper Coondina.”

“Our technical team has also used this data to refine our priority drill targets starting with the Chola Prospect which is shaping up to be an exciting structure.”

Article Courtesy of Market Index

07 Nov 2022

High Grade Lithium Tantalum Soil Samples Returned at Upper Coondinia-WA

Highlights:

  • First pass soil sampling assay results confirm strong lithium and tantalum potential at flagship Upper Coondina in WA
  • High-grade soil samples including 670 ppm lithium and 103 ppm tantalum
  • Field mapping has previously confirmed a pegmatite corridor with strong lithium anomalism
  • Pre-drilling exploration programme has confirmed multiple high quality drilling targets for drill testing in Q4 2022
  • Initial priority drill target will be the Chola Prospect – a pegmatite corridor measuring approx. 4.0 km x 2.0 km
  • Upper Coondina has the potential to be part of the same system that hosts the major lithium discovery announced by Global Lithium (ASX: GL1) and similar geological setting as Pilbara minerals (ASX: PLS)
  • Heritage survey report and POW approval received

Critical metals exploration and development company MetalsGrove Mining Limited (ASX: MGA), (“MetalsGrove” “MGA” or the “Company”), is pleased to announce that a recently completed pre-drilling exploration programme has confirmed multiple pegmatite corridor and identified potential drilling targets at the Company’s Upper Coondina Lithium Project in Western Australia.

The recently completed programme comprised soil sampling, airborne survey and surface field mapping which revealed a corridor containing multiple pegmatites which are coincident with the source area and with surface geochemistry.

Encouraging soil sampling assays including Li2O 670 ppm and Ta 103 ppm have been returned. Multiple outcropping pegmatite dykes occurring in swarms, with pegmatite dykes strike approximately 8.0 km x 4.0 km.

Initial observations suggest Upper Coondina has two generations of pegmatite – G1 and G2, which host the lithium mineralisation found within the Pilbara lithium field.

MGA also believes Upper Coondina may be part of the same system that hosts the major lithium discovery announced by Global Lithium (ASX: GL1) and similar geological setting as Pilbara minerals (ASX: PLS) north of MGA’s ground.

Commenting on the encouraging soil sample assays from Upper Coondina, MetalsGrove’s Managing Director, Sean Sivasamy said:

“We are delighted with the assay results from our pre-drilling soil sampling which has confirmed the high-grade lithium potential of Upper Coondina. Our technical team has also used this data to refine our priority drill targets starting with the Chola Prospect which is shaping up to be an exciting structure.

All necessary approvals have now been finalised and we are aiming to have the drill rig spinning in late November to test this suite of initial targets as we finish the calendar year with momentum.”

Geochemistry confirms drill targets at Upper Coondina

Over 2,500 soil samples were taken from the southern part of the Upper Coondina Chola Prospect. The geochemical responses and surface field mapping identified strong LCT-pegmatite anomalies, which is in an 8km by 4km multiple pegmatite corridor.

First pass soil sampling assay results confirm lithium mineralisation and defining the drilling target within the Chola Prospect pegmatite corridor measuring approximately 4.0 km x 2.0 km.

Chola Prospect – expanding horizon of lithium-bearing pegmatites

Figure 1 shows the location of the Chola Prospect pegmatite outcrop and pegmatite structural corridor at the Upper Coondina Lithium Prospect that were confirmed by soil sampling assays hosting lithium mineralisation and expanding up north and west.

Figure 1 – Showing pegmatites with lithium assay results against pegmatite outcrop and pegmatite structural corridor-Chola Prospect.
Figure 2 – Showing soil sampling lithium assay results against pegmatite outcrop and pegmatite corridor – Chola Prospect.
Figure 3 – Showing soil sampling assay with tantalum assay results against pegmatite outcrop and pegmatite corridor – Chola Prospect.
Figure 4 – Showing soil sampling lithium assay results against radiometric-potassium analysis, pegmatite outcrop and pegmatite corridor – Chola Prospect.
Figure 5 – Showing soil sampling tantalum assay results against radiometric-potassium analysis, pegmatite outcrop and pegmatite corridor – Chola Prospect.
Figure 6 – Showing lithium assay heat map and tantalum assays results against pegmatite outcrop and pegmatite corridor – Chola Prospect.

Next steps

Pending soil samples assay results are expected to be received over the coming weeks. These results will allow the Company to define more drilling targets to test the outcropping pegmatites at depth, to confirm their orientation and the extent of any high-grade lithium mineralisation continuing below surface.

Earthworks for the upcoming maiden lithium drill programme are scheduled to commence in mid-November 2022. The start of drilling is scheduled for late November.

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 (MinRes ASX: MIN), Pilbara Minerals (ASX: PLS) and recent lithium developer Global Lithium (ASX: GL1).

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 were 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 253 ppm 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 has been developed by Sean Sivasamy. All assay results have been complied by Mr Sivasamy who is a member of Australasian 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.

27 Sep 2022

Significant Lithium Pegmatite Potential Identified At Upper Coondina Lithium Project

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.

Figure 1 – Pegmatite Outcrop Centre of the Tenement
Figure 2 – 30m wide Pegmatite Outcrop Centre of the Tenement
Figure 3 – A Large Pegmatite Outcrop at Upper Coondina

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.

Board and Management

Richard Beazley

NON-EXECUTIVE CHAIRMAN

Founder and Director of both Altair Mining Consultancy and Hydrogen Energy Pty Ltd and the Interim CEO and Managing Director for Troy Resources (ASX-TRY). Mr Beazley is an experienced mining engineer with 35 years of experience with a strong corporate, operational and technical background in the resources industry. Throughout his career he has worked on projects throughout Australia, Africa and South America.

Sean Sivasamy

MANAGING DIRECTOR AND CEO

Mr Sivasamy is a mining professional with more than 25 years of global experience. He has held Senior Management roles within large, medium and junior Mining companies in Australia, Africa, India and South East Asia. He is the Founder, Director and CEO of MetalsGrove Mining Limited.

Haidong Chi

NON-EXECUTIVE DIRECTOR

Mr Chi is one of the very early Co-founders of Kimberley Metals Group and KMG Mining Pty Ltd. Mr Chi has been the Managing Director of the company’s business operations, liaising with key relevant stakeholders, driving strategic company growth, and responsible for the overall performance of the business for more than 10 years.

ms rebecca broughton

Rebecca Broughton

CHIEF FINANCIAL OFFICER

Ms Rebecca Broughton is a Chartered Accountant with more than 20 years experience in both public practice and commerce, with significant focus in the resources sector.

Projects

upper coondina mining map

Lithium and Tin

Upper Coondina

  • Location: located 85km south-west of Marble Bar in the East Pilbara district.
  • Size: Approximately 6,365 ha (E45/5952).
  • Interest: 100%.
  • CSR identified simple pegmatite veins as the sources of the tin.
  • Potential to establish economic long-term producing assets.
  • High quality lithium, tin and tantalum project in highly prospective regions in Western Australia (Pilbara lithium mineral field).
  • Well connected to mining infrastructure.

Rare Earth, Gold, Copper and Base Metals

Artuna Projects- Box Hole, Bruce and Edward Creek

  • Projects: Box Hole, Bruce, and Edward Creek Projects are located in Northern Territory.
  • Location: 110km north of Alice Springs.
  • Size: Approximately 320km 2 (EL32420, EL31225 and EL32419).
  • Interest: 100%.
  • Access: Via Stuart and Plenty Highways.
  • Drill ready walk-up drilling targets.
  • Well connected to existing mining infrastructure
  • Historical presence of Cu-Au, base metal and historical pegmatite workings have been demonstrated in the area

Managanese

Woodie Woodie North-Manganese

  • Location: Situated in the East Pilbara region of Western Australia approximately 400km south of Port Hedland and 95km east of Marble Bar.
  • Size: Approximately 14,400 ha (E45/5945).
  • Interest: 100%.
  • Access: All-weather Ripon Hills Road that ensures continued site access.
  • Manganese is a critical ingredient in steel production and Electric Vehicle (EV) engineering.
  • Drill ready walk-up drilling targets.
  • Surface sampling has returned a number of highly anomalous manganese and cobalt assays (up to 52% Mn and 540ppm Co).

Milestones

Historical Milestones

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)

Future Milestones

News & Media

Resources

Prospectus

ASX Announcements

Shareholder Services

Reports

Presentations

Alerts

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