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Firetail Resources Limited ("Firetail" or "the Company") (ASX: FTL) is pleased to provide an update on exploration activites at its Yalgoo Lithium Project ("Yalgoo") in Western Australia. Final assay results have been received from the Company’s drilling program at the Johnson Well Prospect, completed in late June.
Highlights include:
- Reverse Circulation (“RC”) Drilling program comprising 22 holes for 589m completed at the Johnson Well Prospect, following up from encouraging rock chip sample results.
- Pegmatites intersected in 3 of the 4 drill sections over a strike length of around 150m and appear continuous for ~ 120m down-dip.
- Encouraging assay results include 3m @ 0.83% LiO2 from 32m including 1m @ 1.16% LiO2 from 34m in JWRC-0005.
- Apparent increase in lithium grade down-dip in eastern-most drill section (Fence 1), where the deepest intersection of pegmatite returned the best assay results (JWRC-0005).
- All pegmatites intersected are open down-dip, with the next stage of RC drilling proposed to step- out further to the northeast and test these pegmatites at depth.
Figure 1: RC rig drilling first collar at Johnson’s Well.
Executive Chairman, Brett Grosvenor, commented:
"We are really pleased to be able to report the results of this drilling at Johnson Well, that were received late last week. These results reflect an increased understanding of the region and further assurance that our team’s interpretation of the pegmatite system within the Yalgoo tenure is heading in the right direction
“Johnson Well is our second target drilled at Yalgoo to date and the confirmation of the LCT mineralisation gives us confidence that we are on the right track.
“Our Geological team, led by Robin Wilson, is hard at work planning the next round of activities to better understand the geology and potential for further LCT pegmatites in the region, as well as target generation for future drilling campaigns.”
Yalgoo Project – Johnson Well Prospect
RC Drilling
An RC drilling program was completed at the Yalgoo Project, Johnson Well Prospect in June 2023, following up from geological mapping and rock chip sampling1. The drilling program comprised of 22 holes for 589m with drilling completed on four traverses approximately 80m apart and drill holes 20m or 40m apart (see Figure 3 below).
Three of the four drill traverses intersected pegmatites indicating continuity over a strike length of at least 150m and also open down-dip. The pegmatites are interpreted to be relatively shallow-dipping towards the north/northeast and striking roughly west-northwest (see Figures 2 and 3 below).
Assay results have now been received which confirm the pegmatites intersected are Lithium-Caesium- Tantalum (LCT) pegmatites, with a best result of 3m @ 0.83% LiO2 from 32m in JWRC-0005 including 1m @ 1.16% LiO2 from 34m. All significant LiO2 assay results (>0.2% LiO2) are highlighted in the Table 2 below (Appendix 1). Lithium minerals observed in the pegmatites were predominantly lepidolite and zinnwaldite, associated with potassium feldspar, albite, muscovite and biotite.
Of note is the apparent increase in lithium grade at depth which is evident on Drill Fence 1 (see Figure 2 below) where the deepest pegmatite intersection returned the best lithium assay result (drill hole JWRC-0005).
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This article includes content from Firetail Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
