Maiden Drill Program at Gorge Lithium Project Intersects Spodumene

Maiden Drill Program at Gorge Lithium Project Intersects Spodumene

Balkan Mining and Minerals Ltd ("BMM" or "the Company") (ASX: BMM) is pleased to provide an exploration update at the Gorge Lithium Project located in Ontario, Canada (the "Gorge Lithium Project" or the "Project").


HIGHLIGHTS

  • Pegmatites with visible spodumene (5-15% content1) intersected in first lithium- focused drill hole from 7.6m depth at Nelson.
  • Mechanical stripping identifies additional extensions of spodumene pegmatite at both Nelson and Koshman occurrences.
  • Exposed spodumene pegmatites at Nelson provide an extension over 200m along known strike.
  • Recently identified spodumene pegmatite dyke SP-23-2 extends over 50m along the strike with pegmatite dyke width varying between 2.6-5m at surface and containing visible spodumene ranging from 5 to 20% content1.
  • Newly discovered spodumene pegmatite outcrops are a major breakthrough for the Company and demonstrate the potential scale of mineralisation – to be tested by ongoing drilling.
Balkan Mining and Minerals, Managing Director, Ross Cotton commented:

"Our exploration team is extremely pleased to have intersected visible spodumene at the Nelson pegmatite in our very first drill hole from the Gorge Lithium Project. This is only the start of our drilling activity targeting pegmatite occurences which have been identified from field work.

This prospect, along with an abundance of other targets at Gorge - including the Koshman and newly identified SP-23-2 pegmatites - warrant further investigation. Drilling is continuing and we look forward to updating shareholders as results come to hand"

The drill hole NL-23-001 intersected spodumene pegmatite from 7.6m to 11.0m down hole confirming the extension of the Nelson outcropping spodumene pegmatite at the depth. The pegmatite is composed of very coarse spodumene crystals embedded into a quartz-rich matrix. Based on a visual inspection of the mineralised interval visible spodumene content ranges from 5 to 15% of spodumene mineral content1. Drill assay results are expected in 4-6 weeks.

Figure 1 – DH NL-23-001 - Spodumene pegmatite intercept

Table 1 – Mineralised interval - Intervals are down hole length, true width not known. Spodumene % are based on visual estimates1

Figure 2 – Geology Map of Nelson pegmatite showing drill hole locations and newly exposed spodumene pegmatites SP-23-1 and SP-23-2

Figure 3 – Cross section through drill hole NL-23-001

In parallel to drilling the company continued mechanical striping of both Nelson and Koshman pegmatites.

Surface stripping at Nelson has revealed new spodumene pegmatites along an extent of 200m along the strike identifying a much larger system. Newly exposed spodumene pegmatite (SP-23- 2) has an extension over 50m in length with a pegmatite width ranging from 2.6 to 5 meters at the surface and contains visible spodumene ranging from 5 to 15% content1.


Click here for the full ASX Release

This article includes content from Balkan Mining, 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.

BMM:AU
The Conversation (0)
Lithium periodic symbol and powder overlayed with world map.

Top 4 Largest Lithium Reserves by Country

Those interested in the lithium sector and investing in lithium stocks are often curious about which countries are the top producers of the battery metal, but they may not stop to consider the top lithium reserves by country.

Major lithium-producing countries are, of course, home to a large number of lithium companies. Many of the world’s top lithium producers also hold significant reserves, and their reserves can give an idea of how much room those countries have to grow. At the same time, nations with high reserves may become more significant lithium players in the future.

Looking forward, lithium demand is expected to continue increasing. That’s because, together with metals such as cobalt, lithium is a key raw material in the lithium-ion batteries used to power electric vehicles, and it is also essential for the energy storage sector.

Keep reading...Show less
Silver square with the lithium periodic symbol standing upright next to lithium metal.

Top 9 Lithium-producing Countries

Interest in lithium continues to grow due to its role in the lithium-ion batteries that power electric vehicles (EVs). As a result, more and more attention is landing on the top lithium-producing countries.

About 80 percent of the lithium produced globally goes toward battery production, but other industries also consume the metal. For example, 7 percent of lithium is used in ceramics and glass, while 4 percent goes to lubricating greases.

According to the US Geological Survey, lithium use in batteries has increased in recent years due to the use of rechargeable batteries in portable electronic devices, as well as in electric tools, EVs and grid storage applications.

Keep reading...Show less
Jindalee Lithium CEO Ian Rodger.

Jindalee Lithium Secures Funding to Advance One of the Largest Lithium Deposits in US

Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) CEO Ian Rodger delves into the company’s strategy following the sale of a non-core asset and the significance of this transaction for the future development of Jindalee's flagship McDermitt lithium project in Oregon, US.

Watch the full interview with Ian Rodger, CEO of Jindalee Lithium, above.

Rapid Lithium

Investor Presentation Acquisition of the Strategic Prophet River Ge-Ga Project

Prophet River, British Columbia, Canada – Brownfields Exploration Project Strategic Metals – Germanium and Gallium

Rapid Lithium Limited (ASX:RLL) has announced Investor Presentation Acquisition of the Strategic Prophet River Ge-Ga Project.

Keep reading...Show less
Jindalee Lithium

Jindalee Realises $2.75M from Sale of Non-Core Asset

Jindalee Lithium Limited (Jindalee, the Company; ASX: JLL, OTCQX: JNDAF) advises that the Company has sold its shareholding in Dynamic Metals (ASX: DYM, Dynamic), raising $2.75M before costs.

Keep reading...Show less

Latest Press Releases

Related News

×