Accelerate Resources Limited (ASX:AX8) ("AX8" or the “Company") is pleased to provide an exploration update on the Company’s Lithium projects in the East Pilbara.

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• Accelerate’s 100% owned lithium project is 30 km ESE of Global Lithium Resources’ (ASX:GL1) Archer deposit (10.5 Mt @ 1.0% LiO2).
• New pegmatite targets identified using the same geological model as applied to the Archer Lithium Deposit and MB Lithium’s tenements, within a 6 km-10 km radius of the Moolyellar Monzogranite.
• Ground based sampling program to target potential lithium, tin, and tantalite mineralisation within pegmatites across the 369 km² project area.

Figure 1: East Pilbara Lithium EL Applications

East Pilbara Lithium Project

Accelerate’s projects are located in an area of active lithium exploration and discovery which includes Global Lithium Resources’ Archer deposit (10.5Mt @ 1.0% LiO2) ~30 km to the northeast and the Moolyella project held by Lithium 1 Pty Ltd (see Figure 1).

Following an encouraging initial reconnaissance sampling program earlier this year and a detailed photo interpretation, new targets have been identified with an on-ground exploration program planned for November.

Historical data has now been collated, and whilst there has been significant historical exploration for diamonds, limited work focusing on lithium or lithium-related pathfinder geochemistry has been recorded.

Desktop studies have identified priority targets characterised by multiple vein/dyke filled cross-cutting structures within the granitic plutons. Work has also included a review of the host granitic structures and neighbouring exploration activity that has successfully identified lithium mineralisation.

Based on the lithium pegmatite model successfully employed in the immediate region by other explorers, the upcoming field program will seek to follow up targets generated from the detailed photo interpretations and previously identified geophysical anomalies from historical diamond exploration.

New Target Areas

The north-western part of Accelerate Resource’s Mount Creek tenement block lies within the 6 - 8.65 km zone of nominal lithium prospectivity (Target Zone) around the Moolyella Monzogranite (see Figure 2).

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