The Conversation (0)
Industrial Minerals (ASX:IND or the Company) is pleased to announce the agreement of binding terms with Northwest Quarries PTY Ltd. (NWQ) for the exclusive option to acquire 80% interest in the non-construction material mineral rights, including lithium and HPQ, at the Pippingarra Quarry Project (Pippinagarra) near Port Hedland. The project is located within world class Pilbara lithium province of Western Australia and near some of the world's hard rock lithium mines.
Highlights:
- IND has acquired an exclusive option to acquire 80% interest in the non construction material mineral rights including lithium and High Purity Quartz (HPQ) to the operating Pippingarra Quarry (Granted Mining Lease, M45/258).
- Historical closed-space drilling has defined over 2km of flat lying pegmatite that is on average 200 m wide and 20m thick, under very shallow cover and remains largely untested for lithium despite historical mining of beryl and columbite (which are both indicator minerals of LCT-type pegmatites).
- The pegmatite is open in all directions and the current defined extent of the pegmatite is a function of drilling completed to date.
- RC and diamond exploration program being devised to determine the extent of the pegmatite and its lithium mineralisation potential. Multi-purpose drill rig secured.
- The project is on a granted Mining Lease and located 30km south-east of Port Hedland, 19km north-east of Wildcat Resources (ASX:WC8) Tabba Tabba Lithium Project, 55km north-west of Pilbara Minerals Ltd. (ASX:PLS) Pilangoora Lithium Operations and 69km north of Mineral Resources Ltd. (ASX:MIN) Wodgina Lithium Operation.
Plate 1: Pippingarra Quarry and Associated Infrastructure
IND holds a number of tenements in the region that are prospective for HPQ and lithium, making the addition of this Project a logical expansion of IND's activities in the Pilbara Region. In addition, IND has also recently applied for further tenure proximal to the Pippingarra Project.
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