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Marquee Resources Limited (“Marquee” or “Company”) (ASX:MQR) is pleased to update the market about the ongoing exploration activities at the West Spargoville Project (“WSP” or “Project”).
HIGHLIGHTS:
- Results from aircore drilling confirm the presence of Lithium-Cesium-Tantalum (LCT) pegmatites as the source of surficial geochemical anomalism.
- Large LCT halo (extending over 2km and up to 300m wide) identified in aircore drilling to be followed up with reverse-circulation drilling to test for bedrock mineralisation.
- Follow-up mapping identifies outcropping, spodumene bearing pegmatite within an interpreted pegmatite dyke swarm.
10 reverse-circulation drillholes of the 57-hole program completed with drilling initially targeting the interpreted pegmatite dyke swarm.
The company has received results from a 93-hole, 5,470m aircore drilling program, which has confirmed the presence of highly fractionated LCT-type pegmatites as the source of surficial geochemical anomalism. Aircore drilling was completed in the eastern portion of the tenure, where the depth of weathering extends up to 60m deep, with elevated lithium-cesium-tantalum values in weathered material associated with elevated pathfinder elements (Table 1). A large geochemical halo (90th percentile Li > 64ppm) extending over 2 kilometres and up to 300m wide has been identified from the aircore drilling, with the bedrock source to be targeted in follow-up reverse-circulation (RC) drilling.
Table 1: Best assay result from aircore drilling.
In preparation for RC drilling further mapping was completed which identified a NE-striking, spodumene bearing pegmatite (Figure 1) in an area considered highly prospective due to the results from auger geochemistry and deep ground-penetrating radar (DGPR) (Refer: MQR ASX Release 21st April 2022). RC drilling has begun to test the NE-striking corridor with multiple pegmatites intersected in drilling thus far. The first batch of samples have been delivered to the laboratory with results expected in 4-6 weeks.
Figure 1: LEFT − Outcropping, spodumene bearing pegmatite. RIGHT − Grab sample collected from outcrop with abundant, elongate spodumene crystals.
In relation to the disclosure of visual mineralisation the Company cautions that visual estimates of spodumene abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and the grade of visual mineralisation repo
Executive Chairman Comment:
Marquee Executive Chairman, Mr Charles Thomas, commented: “To identify pegmatites with clear LCT geochemical signatures is highly encouraging and confirms the prospectivity of the West Spargoville Project. There had been no lithium exploration completed at the Project 12 months ago so we are making great progress and look forward to keeping the market updated as more results come to light. We are currently systematically exploring the Project with RC drilling continuing for the forseeable future and will begin another round of aircore drilling in the last week of June so it is a very exciting time for the Company.”
Exploration Update & Forward Work Plan
Results have been received from a 93-hole, 5,470m aircore drilling program. The aircore program was completed in the eastern portion of the tenure where there is a well-developed weathering profile up to and beyond 60m deep. As such, the aircore results are from highly weathered material where geochemical dispersion is prevalent. The assay results show a clear LCT-pegmatite association with tantalum concentrated preferentially in the upper saprolite and lithium concentrated in the lower saprolite (Figure 2). Follow-up RC drilling is required to test for the bedrock source of the geochemical dispersion halo. The geological setting is analogous to the Cade Pegmatite at the Dome North Project where mineralised pegmatite is hosted within the Black Flag Beds beneath a well-developed weathering profile (Refer ESS ASX Release 14th January 2022).
RC drilling has begun to test multiple geochemical anomalies detected during the auger program (Refer: MQR ASX Release 21st April 2022). The first drillholes of the program have targeted an interpreted dyke swarm in the vicinity of recently mapped outcropping spodumene-bearing pegmatite dyke (Figure 3). Multiple pegmatitic dykes have been intersected of varying thicknesses (Figure 2), with the first batch of assays at the lab for analysis. Results are expected within 4-6 weeks.
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This article includes content from Marquee Resources Limited (ASX: MQR), 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.
MQR:AU
Fig Tree IP Survey Results
HIGHLIGHTS
- Induced Polarisation (IP) surveys have been completed at Fig Tree targeting hydrothermal manganese mineralisation similar to the high-grade Woodie Woodie manganese mine.
- A Dipole-Dipole IP survey (DDIP) extended over a 1,400m long northwest extension of the HD1 prospect where previous RC drill results included:1
- 7m @ 33.2% Mn from 2m (HADRC017)
- 3m @ 17.0% Mn from surface (HADRC018)
- The DDIP survey detected a number of near surface targets coincident with outcropping manganese mineralisation (34.2% Mn1) and subsurface IP responses interpreted to represent shallow down dip extensions.
- A Gradient Array IP (GAIP) survey, located about 35 km south and along strike of the Woodie Woodie mine was designed to test for mineralisation within an interpreted “Woodie” structural corridor and identified several chargeability anomalies that warrant follow-up
- The Fig Tree IP survey was co-funded to a maximum of $57,875 under the State Government’s 2024-2025 geophysics co-funded Exploration Incentive Scheme (EIS).
Surface mapping, sampling and RC drilling completed by previous explorers identified and returned high-grade manganese results from multiple prospects across the Fig Tree tenement which is located 35km south of the Woodie Woodie operations. The IP results have generated a number of targets that require infill geophysical surveys prior to drill testing.
Black Canyon’s Managing Director Brendan Cummins said:
“After the success of discovering large shale-hosted manganese deposits across the Balfour Manganese Field, the Company is now turning some of its attention to exploring for near-surface high grade mineralisation at its Wandanya and Fig Tree projects. Several prospects along the Fig Tree Manganese Trend have been mapped and drilled in the past, establishing the tenement's potential to host higher-grade, hydrothermal-style mineralisation. Its geological similarities to Woodie-Woodie and previous RC drilling have confirmed the prospectivity of the tenement, which is located only 35km south of Woodie-Woodie. Manganese deposits are often associated with chargeability anomalies which can be detected using IP techniques, so we were keen to deploy IP to the area and now have several new targets that warrant follow-up.”
Black Canyon used the high-quality historic exploration datasets at Fig Tree to evaluate the known manganese prospects, and then used this information to generate new IP survey targets. The DDIP survey has confirmed chargeable responses co-incident with outcropping manganese mineralisation and extending down dip. The GAIP surveys have also yielded several large sub- surface chargeable anomalies. Further IP surveys are planned to better resolve the size and strength of these new chargeable anomalies and establish their significance prior to refining potential drill targets in addition to other prospects across the Fig Tree tenement.
Figure 1. LHS - Fig Tree Project areas tenement showing the location of Woodie Woodie and RHS - completed DDIP, GAIP geophysical surveys and historic exploration data.
HW1 Dipole-Dipole IP Survey Results
The DDIP survey was designed to test a 1,400m long zone of subcropping manganese mineralisation along strike from the historic HD1 prospect where rockchip samples and limited RC drilling encountered medium to high grade manganese. The DDIP lines were spaced between 200 and 600m apart along the target horizon providing a cross-strike coverage between 600m and 950m.
Several near-surface chargeable anomalies, coincident with outcropping manganese mineralisation (Figure 2) and subsurface chargeable anomalies were detected with the DDIP survey. The subsurface responses are interpreted to represent shallow down-dip extensions to the surface mineralisation. are estimated to range between 10 to 25m thick from surface to depths of 50m and persist across 4 sections extending over 1,000m of strike (Figure 3) (Appendix 1).
The underlying geology is dominated by ferruginous chert and Pinjian Chert inferred to overlie close to surface Carawine Dolomite. The area is also bisected by a number of northeast and northwest trending faults and fractures. The manganese lenses form isolated subcrops 50 to 100m long and manganese disperses 20 to 40m from the subcrops.
Infill DDIP lines are required to provide more detailed chargeability mapping to resolve the potential strength and continuity of the anomalies. The HW1 target has never been drill tested and subject to further evaluation a drill program can be planned.
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This article includes content from Black Canyon, 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.