AX8 Expands Lithium Exploration Footprint In The Prospective East Pilbara Region

Accelerate Resources Limited (ASX: AX8) ("AX8" or the “Company") is pleased to announce the expansion of its lithium exploration project footprint in the East Pilbara region of WA, with the recent application for four new tenements (E45/6416, E45/6604, E45/6615 and E45/6634) covering an additional 395 km2 in an area proven to host lithium deposits. Two of Accelerate’s tenement applications (E45/6416 and E45/6634) are subject to competing applications by other companies, with final ownership to be decided by ballot.

• AX8 has expanded its 100%-owned East Pilbara Lithium Project adjacent to Global Lithium Resources’ (ASX:GL1) Archer deposit (18 Mt @ 1.0% LiO2), with four new tenement applications.
• AX8 now has ~800 km2 of lithium prospective tenure under application (seven licences) in WA’s Pilbara region. Two applications are subject to a ballot.
• AX8 has identified targets across the new tenements using the same exploration model applied by GL1 at the nearby Archer Deposit.
• Initial mapping and rock chip sampling of pegmatites to evaluate new targets has recently been completed with results pending.

Figure 1: AX8 East Pilbara Lithium Project location

AX8 Managing Director Yaxi Zhan commented:

"Accelerate's East Pilbara Lithium project, strategically positioned just 30 km southeast of Global Lithium Resources' (ASX:GL1) Archer deposit, holds promise for delivering positive lithium exploration results. Our recent application for four new tenement applications has expanded our exploration project area to over 800 km2, unlocking geological potential akin to the large Archer Lithium Deposit.

Utilising the same proven exploration model employed for the Archer Deposit, we have successfully identified potential lithium targets in these new areas which is an exciting development. Our initial ground-based mapping and sampling program targeting potential lithium, tin and tantalite mineralisation has been completed, and we eagerly await the imminent results in the coming weeks."

East Pilbara Lithium Project

Accelerate's East Pilbara Lithium Project (Figure1) is strategically situated within a region of active lithium exploration and discovery, encompassing the following prominent deposits: Global Lithium Resources' Archer deposit (ASX:GL1), Tabba Tabba Lithium Project (ASX:WC8), Pilgangoora Lithium Project (ASX:PLS) known for its large-scale lithium mine, and Wodgina Lithium Project (ASX:MIN), which demonstrates the significant lithium prospectivity of the area (Figure 1).

Two of the Company’s new tenement applications are located within the sedimentary-basalt rim adjacent to a large granite pluton (informally known as the Wongawobbin Pluton), which contains several granite suites (such as the Cleland Supersuite granite) located within a swarm of north oriented faults. Satellite image interpretation has identified several zones of quartzose felsic rocks that are prospective for lithium bearing pegmatites (see Figure 2).

These intrusive suites contain various granitic phases, including tonalite, monzogranite and granodiorite compositions. Within the Pilbara Craton, monzogranites are frequently associated with lithium mineralisation. For example, the Wongawobbin Pluton contains similar granite types and granite supersuites as the Moolyella Pluton, immediately east of Marble Bar, which is known for its associated Tin-Tantalum-Lithium mineralisation (Figure 3).

Figure 2: E45/6604 and E45/6615 Prospects

The Archer Lithium Deposit (ASX:GL1) is located on the western edge of the Moolyella Pluton within a rim of interleaved basalt, gneiss and granite material, which is associated with a NNE trending quartz-filled, concentric fault system. The GSWA has identified the Bishop Creek Monzogranite, which is part of the Cleland Supersuite, as being a potential lithium source for the Archer Deposit.

Accelerate’s new tenement applications cover a broadly analogous position around the Wongawobbin Pluton, similar to that of the Archer Lithium Deposit and the Moolyella Pluton (Figure 3).

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