High Grade Lithium Discovered At Nepean

Auroch Minerals Limited (ASX:AOU) (Auroch or the Company) is pleased to announce the discovery of high grade lithium mineralisation in reverse circulation (RC) drill-hole samples at the NepeanNickelProjectinWesternAustralia(Auroch Minerals 80%, Lodestar Minerals Ltd 20%).

• Drilling intercepted high grade lithium within spodumene-bearing pegmatite at Nepean
• Recently completed exploration drill-holes NPRC084 and NPRC085 at the Nepean North prospect were re-assayed for lithium, caesium and tantalum (LCT) mineralisation for all pegmatite intercepts. Assays returned exceptional lithium down-hole grades, including:
  • 6m @ 1.38% Li2O from 198m, including
    • 2m @ 3.26% Li2O from 198m (NPRC084)

• The two holes are located 420m north of previously announced NPRC058 (1m @ 0.88% Li2O) highlighting the strike potential of LCT-enriched pegmatites at the Nepean Project
• Follow up work consisting of mapping, rock chip sampling and drill-hole planning to commence immediately

Drilling at the Nepean North Prospect was completed in Q3 2022 which consisted of two reverse circulation (RC) holes for 539m to test an IP anomaly for nickel sulphide mineralisation.1

All geologically logged pegmatites intercepted by the two RC holes were submitted for re-assay for LCT mineralisation via a sodium peroxide fusion and Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES) as part of the Company’s ongoing investigation into the project’s lithium potential.

The field geologists identified a six metre thick pegmatite in NPRC084 between 198-204m (down-hole depth) and a series of thinner pegmatites in NPRC085 from 143m, all of which were submitted for re- assay. The high grade lithium results in hole NPRC084, combined with re-logging of the 6m pegmatite interval, confirmed the presence of the lithium pyroxene mineral spodumene (the principal lithium ore mineral). Significant results include:

• 6m @ 1.38% Li2O from 198m, including
  • 2m @ 3.26% Li2O from 198m (NPRC084);
• 3m @ 0.36% Li2O from 165m, including
  • 1m @ 0.52% Li2O from 167m (NPRC085); and
• 4m @ 0.29% Li2O from 242m (NPRC085).

Significantly, the two holes were drilled approximately 150m apart, approximately 420m north of the previously reported lithium result in NPRC058 consisting of 1m @ 0.88% Li2O from 78m,2 which suggests potential LCT-enriched pegmatites over a significant strike length at the Nepean North Prospect. The Company will immediately commence a high priority exploration programme to potentially delineate further high grade spodumene mineralisation.

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