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Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce assay results from the Company’s Phase 2 drill program at its 100% owned Morrissey Hill Lithium project in the Gascoyne Mineral Field W.A (Figure 2).
Highlights:
- Phase 2 drilling comprised 58 reverse circulation (RC) holes for 5282m.
- Drilling completed across the Bonzer, Morrissey Hill, Peggy Sue, Shore Break and Sunset Boulevard prospect areas.
- Strong, coherent lithium and lithium-caesium-tantalum (LCT) pathfinder anomalism and low- medium grade lithium mineralisation encountered at each prospect area, broadening overall potential of the Morrissey Hill Project.
- Significant intercepts include:
- 23MHRC0062: 16m @ 0.15% Li2O from surface including 2m @ 0.22% Li2O from 8m (Bonzer)
- 23MHRC019: 40m @ 0.09% Li2O from 10m downhole depth including 10m @ 0.12% Li2O from 40m and 6m @ 0.15% Li2O from 56m (Morrissey Hill)
- 23MHD047: 20m @ 0.08% Li2O from 64m to EOH (Peggy Sue)
- 23MHRC072: 14m @ 0.08% Li2O from 16m (Shore Break)
- Multiple high priority targets identified by consulting geochemist, Sugden Geoscience, are awaiting heritage clearance and yet to be tested.
- Heritage approvals at Morrissey Hill and Wabli Creek (niobium) being actively progressed.
Figure 1: Regional map which includes the location of Reach Resource’s Morrissey Hill and Camel Hill Lithium Projects in Western Australia’s Gascoyne Region.
Commenting on the Phase 2 results, CEO Jeremy Bower said:
“Reach is still at an early stage in progressing its understanding of the Morrissey Hill Project, having commenced systematic exploration less than 12 months ago. As with Phase 1, this latest batch of assays demonstrate there is a broader zone of mineralisation present at Morrissey Hill. Each of the main prospects tested in the Phase 2 program returned anomalous lithium values, confirming we are in a fertile, highly fractionated lithium-bearing system.
“Our short-term goal is clear, we need to locate high grade mineralisation. The fact that many of our highest priority litho-geochemical targets and most of the Leake Springs Metamorphic package, which runs through our tenements and hosts Delta Lithium’s nearby Malinda deposit, are yet to be tested means our priority in the short term is to successfully obtain heritage approvals to allow drilling to commence at these locations. We are eagerly looking forward to updating shareholders with further plans for the 2024 field season.”
Figure 2: Zoomed-in view of Morrissey Hill highlighting areas of geochemical anomalism
The Phase 2 drill program commenced soon after the completion of the maiden program at Morrissey Hill and comprised 58 RC holes for a total of approximately 5,282m (23MHRC0016-73). Refer to Annexure 1 below for summary of drillhole orientation data.
The drilling was designed to test the plunge of mineralisation at the Bonzer prospect, which was the focus of the Phase 1 drilling program, and to test other targets in areas where heritage clearance had been received. Heritage clearance on a large number of priority targets remains outstanding which restricted Phase 2 drilling to certain areas. Completing those heritage approvals remains a priority for the Company at present.
Consistent with the maiden drilling at the Bonzer prospect, Phase 2 targets were initially developed through a review of regional and local geology, local mineral systems, relevant research work, historical reports and all available geochemical, geophysical and remote sensed datasets. Final selection of drill targets for the program were refined through a combination of soil, rock chip sampling and mapping.
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This article includes content from Reach Resources, 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.
RR1:AU
Outcropping Copper Gossan Delivers 33% Cu Assays At Morrissey Hill Project, Yinnetharra
HIGHLIGHTS
- High grade copper‐oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag. (Figure 1).
- Results follow Morrissey Hill assays of up to 2.3% Li2O (ASX Announcement 15 May 2023).
- Mineralisation at the Swallowtail Copper Prospect was mapped over a strike length of at least 150m and remains open in all directions.
- Significant results include:
- 33.2% Cu, 0.2g/t Au and 141.8g/t Ag (23RRRK0039).
- 14.7% Cu, 0.02g/t Au and 55.6g/t Ag (23RRRK0042).
- 4.2% Cu, 0.3g/t Au and 5.7g/t Ag (23RRRK0041).
- 2.3% Cu, 0. 2g/t Au and 5.0g/t Ag (23RRRK0043).
- Historical sampling 3.0km’s west of Swallowtail could potentially extend the strike with historical results returned:
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation.
- Morrissey has never been drilled & geochemical surveys planned to commence next week.
Commenting on the results CEO Jeremy Bower said:
“The Morrissey Hill tenement at our Yinnetharra Project continues to deliver. These are outstanding copper results and in conjunction with the 2.3% Li20 announced earlier this week, it is clear how prospective the ground is. We’re focused on sourcing the critical and battery minerals of the future and copper is an important part of our strategy. Despite several world class copper‐gold and polymetallic base metal deposits in the East Capricorn Orogen, the West Capricorn and Gascoyne has been massively under‐ explored. We see this as a huge opportunity.
Importantly, we are fully funded to complete our field programs and drilling campaigns earmarked for this year. Our focus remains on thorough geochemical assessment of each target and getting drill rigs out to Morrissey Hill as soon as possible. This will mean consistent news flow for our shareholders over the coming months.”
FIGURE 3: Morrissey Hill showing location of the Swallowtail Prospect along Stringer Fault line
FIGURE 4: Regional location of Reach Yinnetharra projects
The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation. Systematic surface geochemical surveys including soils, stream sediment and rock chip sampling are planned to commence immediately. Results from this work will guide follow up programs which if warranted may include electromagnetic geophysical surveys and drill testing of priority targets.
The results were reported from an outcropping quartz‐veined gossan, the Swallowtail Prospect, showing visible malachite (copper‐oxide) over a strike length of approximately 150m. The gossan strikes east‐ west, appears to dip steeply towards the south and remains open in both directions. A single historical sample located some 3.0km’s west of Swallowtail, and within the same structural corridor, also reported high grade copper, gold and silver assays indicating a potential strike length of the target zone in excess of 3km’s (Refer to Figure 3).
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This article includes content from Reach Resources, 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.
Multiple New Lithium (LCT) Pegmatite Targets Confirmed
HIGHLIGHTS
- Independent geological experts RSC consultants have identified four priority target areas for Lithium-Caesium-Tantalum (“LCT”) Pegmatites within the Company’s Critical Elements Projects, located in the centre of the rapidly developing Gascoyne “Battery Metals” Province, WA
- Each of the target areas are associated with confirmed fertile parental granites of the Thirty Three and Durlacher Supersuites and contain the same metasedimentary sequences which host Red Dirt Metals (ASX: RDT) Yinnetharra Lithium Project, less than 10 km’s to the NE of Reach Resources’ tenure
- All of the targets are defined by favourable geology, multi-element pathfinder geochemistry and the presence of mapped Geological Society of Western Australia (GSWA) Tin, Tantalum and Lithium pegmatites
- A helicopter supported field reconnaissance program has been initiated to assess the priority areas in more detail
- Drilling of priority targets is scheduled to commence in CY Q3/4 2023 once all regulatory approvals are received
CEO Jeremy Bower commented:
“RSC’s independent expert analysis confirms our belief that our landholding in the Gascoyne has the potential to host significant battery metal deposits.
Phase 1 of the assessment focused on the lithium potential at our Critical Elements Projects and has not only cemented Morrissey Hill as our primary lithium target but importantly has identified three new lithium target areas. Each of the areas are defined by the presence of a highly fertile parent granite and supported by key multi-element geochemistry including lithium, caesium, tantalum, tin and rubidium which are all well documented associations of lithium bearing “rare metal” LCT pegmatite mineral systems.
This is an exciting time for the Company and our shareholders, and we look forward to delivering updates to the market over the coming months. The Future is within Reach”.
Phase 1 of the assessment focused on the lithium potential of the Company’s Critical Elements Projects which includes the newly acquired Morrissey Hill and Camel Hill projects as well as the Wabli Creek project (Figure 1).
Figure 1: Critical Elements Projects
The assessment included a review of relevant deposit models and mineralisation styles of interest, regional and local geology, local mineral systems, academic papers, open file company and government reports and all available geochemical, geophysical and remote-sensed data sets.
Click here for the full ASX Release
This article includes content from Reach Resources, 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.