Premier1 Lithium

Montague Field Program Identifies Abundant New Pegmatite Outcrops

Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) is pleased to announce the commencement of fieldwork at the Montague lithium project. Premier1 has the rights to earn up to 80% of the lithium rights on the project in a farm-in announced on 5 May 2023 with Gateway Mining (ASX:GML).


HIGHLIGHTS

  • Field program commenced at Montague lithium project
  • Areas of interest defined using fractionation vectoring of previously mapped pegmatites
  • Extensive new pegmatites mapped in first phase

The Montague Project is located approximately 70km north of Sandstone within the Gum Creek Greenstone Belt. The greenstone belt is dominated by a sequence of metamorphosed basalts and volcano-sedimentary rocks that are centred around the Montague granodiorite dome and bounded by monzogranitic to granodioritic intrusions to the east. A major NNW-SSE striking shear zone crosscuts the greenstone belt. Transported regolith and cover mask a significant portion of the area west of the shear zone.

The Montague project was previously recognised as a large target predicted by SensOre’s machine learning system. The target identified previously unrecognised lithium potential within a greenstone belt with no previous lithium exploration. Historical data reviewed prior to acquisition did show that the Geological Survey of Western Australia (GSWA) had mapped several pegmatites in the area.

Recent fieldwork by Premier1 has identified abundant new pegmatites along a mafic-ultramafic and siliclastic sequence of the greenstone belt up to 1km west of the main granite contact to the east. Potassium-Rubidium (K/Rb) ratios defined at least two areas of interest that showed high fractionation of below 40 that indicate prospectivity for Lithium-Caesium-Tantalum (LCT) pegmatites.

The recently commenced first phase of field mapping and sampling has identified numerous newly mapped pegmatites in these two areas of interest. Occasionally, green mica has been identified and a first set of samples has been sent to the lab. Feldspar samples were taken of all newly mapped pegmatites to determine fractionation trends for further target vectoring and identification of potential drill targets for H2 2024.

Richard Taylor, CEO of Premier1, commented:

“While we wait for assays from our first phase drilling at Abbotts North, the team has quickly mobilised to Montague which is showing considerable prospectivity based on initial surface mapping of pegmatites. Montague is shaping up to be every bit as exciting as the other projects in our portfolio.”

Figure 1: Regional geological map of the Montague project including identified ML targets.

Figure 2: Newly mapped pegmatites within the Montague project area.

Figure 3: Newly mapped pegmatite outcrop in the field.

This release was approved by the CEO.


Click here for the full ASX Release

This article includes content from Premier1 Lithium, 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.

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