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Oceana Lithium Limited (ASX: OCN, “Oceana” or “the Company”) hereby reports soil sample results from its Solonópole Lithium Project in Ceará State, Brazil, with 383 samples returning anomalous lithium values in soil above 100 ppm and up to 631 ppm.
Highlights
Solonópole Lithium Project, Ceará, Brazil
- Anomalous lithium values above 100 ppm (and up to 631 ppm) found in 383 soil samples within existing and new target areas.
- Integration and interpretation of these soil sample results with data from geophysics, geological mapping (125 line km), trenching and RC drilling (~2,000m) further enhance prospectivity of existing and new targets.
- Combined datasets confirm several swarms of pegmatite bodies striking in a NE-SW direction and identify new high priority areas.
- Nira interpreted to be the most prospective new target, with 180 soil samples of >100 ppm Li and as high as 524 ppm Li covering an area of at least 1km2.
- Nira also features 17 pegmatite outcrops with average widths of up to 30 meters and strike lengths from 200m to 600m.
- Planning for the next follow-up diamond drilling campaign is underway.
Oceana’s Senior Geologist James Abson said: “These highly anomalous soil sample results, both Li and LCT-pathfinder, combined with the anomalous lithium and tantalum grades identified by the initial scout drilling program, backed up by the geophysical and geological mapping data, now provide all the key elements for the optimal planning of a high-quality hard rock lithium diamond drilling campaign. We look forward to further drill testing some of these high priority areas at depth, below the weathering surface, particularly the new target Nira.”
For more information on previous exploration results at Solonópole, refer to Oceana´s ASX Announcements 7 August 2023, 3 November 2023 and 5 January 2024. The status of the large-scale infill soil sampling program that commenced in March 2023 relative to the location of the main exploration areas is shown in Figure 1 below.
Figure 1: Map showing soil sampling map and the approximate location of the main exploration areas
As at 31 January 2024, over 8,300 soil samples had been collected from Solonópole and analysed by X-Ray Fluorescence (XRF) for Lithium-Caesium-Tantalum (LCT) pathfinders, of which 1,908 soil samples now have lab results validated by Oceana´s internal QA/QC. These results show a median lithium value of approximately 42 ppm and an average lithium value of 69 ppm (background). Anomalous lithium values above 100 ppm and up to 631 ppm were found in 383 soil samples within existing and new target areas. Please refer to Appendix 1 (Table 4.1 to Table 4.6) for soil sample results and coordinates.
Oceana has integrated these soil sample results with other datasets from geophysics, geological mapping (125 line km), trenching and RC drilling (~2,000m). The combined datasets confirmed several swarms of pegmatite bodies striking in a NE-SW direction and identified high priority areas showing more than one lithium bearing pegmatite.
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This article includes content from Oceana 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.
OCN:AU
Exploration Update
Highlights
- Mobilisation of crews for detailed geophysical survey over the identified 10km antimony corridor at Yallalong.
- Heritage clearance confirmed over two priority antimony drill targets, Discovery and Central, in preparation for drilling to commence.
- Drilling to focus on extending the existing high-grade antimony mineralisation along strike and at depth over the Discovery target.
- Heritage surveys over next 2 priority antimony targets planned for early December.
- Drill site preparation underway at the large Byro REE & Li project in readiness for metallurgical core drilling to commence mid-November.
Yallalong Antimony
The Yallalong project is located ~ 220km to the northeast of the port town of Geraldton in Western Australia and comprises two granted Exploration Licences, E70/5051 (100% owned) with an exploration area of 63.4km2 and E09/2823 (100% owned) with an exploration area of 94km2.
The antimony (Sb) mineralisation identified at Yallalong appears to occur within a 10km north- south striking mineralised corridor that is interpreted to be related to a structural corridor between the Darling and Woodrarung faults. (Refer ASX announcement 17 September 2024)
Octava will begin detailed gravity and seismic surveys over the identified antimony corridor at Yallalong. Teams will mobilise on ground in the coming days. The geophysical surveys will provide details on the key structures such as shears & faults which act as conduits to mineralising fluids. It will also provide better understanding of the key lithological boundaries.
Figures 1 Outcrop at the Discovery Prospect, Yallalong Project
POW applications covering the 4 priority antimony targets have been approved. These approvals cover the exploration and planned drilling of the antimony targets at the Yallalong Project.
The two priority targets, Discovery and Central, have confirmed heritage clearance, clearing the path for drilling to commence. Heritage surveys covering the No.4 and North targets are expected to be completed by early December in preparation for drilling early in the new year.
The drilling at the Discovery target will focus on extending the previously intersected high-grade antimony mineralisation, both along strike and at depth, with the aim of outlining an antimony resource. Drilling at the Central target will test anomalous antimony at surface, as no drilling has been carried out previously.
Byro
The Byro Project is located on the Byro Plains of the Gascoyne Region, Western Australia, 220 km south-east of Carnarvon and 650 km north of Perth. The Byro project is prospective for rare earths (REE’s), lithium and base metals. (Refer ASX announcement 24 January 2024)
Previous GSWA regional soil sampling and RC drilling has recorded wide areas and large intercepts of anomalous REE, Li & other elements including V and Zn. Previous work identifies an area of mineralisation occurring over more than 30km in strike length and 15km in width. See Figure 2.
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This article includes content from Octava Minerals Limited, 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.