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Arizona Lithium Limited (ASX: AZL, AZLOA, OTC: AZLAF) (“Arizona Lithium”, “AZL” or “the Company”), a company focused on the sustainable development of two large lithium development projects in North America, the Big Sandy Lithium Project (“Big Sandy”) and the Prairie Lithium Project (“Prairie”), is pleased to announce that it has increased the resource size, and upgraded a significant portion of the resource at its Prairie Lithium brine project in Saskatchewan, Canada.
HIGHLIGHTS
- Highest grade Indicated lithium brine resource in Canada, with the majority of the Indicated resource at 127 mg/L Li.
- Resource increased to 5.7 million tonnes (“mt”) of Lithium Carbonate Equivalent (“LCE”) (4 mt Indicated and 1.7 mt Inferred), representing a 39% increase in size.
- Total resource represents approximately 8 years of current worldwide market for LCE1.
- 4 mt of LCE upgraded from Inferred to Indicated.
- Large Indicated resource enables the Company to complete a Pre-Feasibility Study (“PFS”) by the end of 2023.
- Rare lithium brine resource that does not require the depleted brine to be injected back into the producing lithium aquifer. This extends the life of the well network infrastructure and ensures resource stability overtime.
- No Hydrogen Sulphide (“H2S”) or oil encountered.
- Pilot Direct Lithium Extraction (“DLE”) test plant to commence operations in November 2023.
- Investor Webinar on Tuesday, 15 August at 10:00 am AEST / 8:00 am AWST. Managing Director, Paul Lloyd, and Chief Technical Officer, Brett Rabe, will provide a Company update.
The total resource has been increased from 4.1 mt of LCE2 to 5.7 mt of LCE, representing a 39% increase in resource size, with a resource upgrade also successfully completed. 4.0 mt of LCE has been upgraded to Indicated and 1.7 mt of LCE remains Inferred. This marks the first known lithium brine resource to be upgraded to Indicated in Saskatchewan and represents the highest-grade Indicated lithium brine resource in Canada. The majority of the targeted resource resides in the Middle Wymark Unit with a representative concentration of 127 mg/L Li (Figure 3).
The geology of the Prairie Lithium project in Southeast Saskatchewan enables it to be one of the only DLE brine projects that does not require the depleted lithium brine to be re-injected into the producing aquifer after the lithium has been extracted from the brine. This is due to Prairie currently having enough natural pressure, permeability, and lateral continuity to sustain the production rates required for commercial production of brine. Furthermore, the geology of the Williston Basin in Southeast Saskatchewan has world class fluid storage capabilities, providing the Company the option to explore multiple potential disposal formations without the risk of diluting the resource in place.
The operations of producing brine from one formation and disposing it in another formation is an extremely common occurrence in southeast Saskatchewan. From January - April 2023, the oil and gas industry in Saskatchewan produced and disposed of an average of 149,654,188 bbl.3 (23,792,399 m3) of brine per month from various formations across Saskatchewan, well exceeding the anticipated brine volumes that will be required for a commercial lithium brine operation.
Arizona Lithium Managing Director, Paul Lloyd, commented: “Immediately after acquiring the Prairie Lithium Project, we put our plans in motion to fast track the development of the Resource. Completing the first Indicated Resource upgrade in a timely and efficient manner, highlights the technical capability of the team and the Company’s commitment to production of Lithium, from the Prairie project. The combination of the Resource upgrade and the upcoming DLE pilot plant operation in November 2023, set the stage for a very exciting second half of the year for the Company. With all of this, the PFS on the Prairie project will be completed by the end of this year.”
Investor Webinar
The Company would like to remind shareholders and investors of the AZL Investor Webinar which will be held on Tuesday, 15 August at 10:00 am AEST / 8:00 am AWST. Managing Director, Paul Lloyd, and Chief Technical Officer, Brett Rabe, will provide a Company update.
To register your interest for the webinar, please click through to the link below.
https://janemorganmanagement-au.zoom.us/webinar/register/WN_gQQrtbtzRFqoHXys4pvfNA
After registering your interest, you will receive a confirmation email with information about joining the webinar. Participants will be able to submit questions via the Panel throughout the presentation, however, given we are expecting a large number of attendees we encourage shareholders to send through questions via email beforehand to jm@janemorganmanagement.com.au
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This article includes content from Arizona 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.
High grade Assay Results Continue at Youanmi
- The latest batch of assays have been received from the 11,000m drilling program (both diamond core and reverse circulation) at the high gold-grade Youanmi Gold Project, located centrally in Western Australia’s prolific gold fields
- The recently-completed infill/exploration program aimed to improve resource confidence and open up corridors for resource growth; to underpin the Definitive Feasibility Study (DFS), and, additionally, provide sample material for ongoing metallurgical optimisation test-work for the DFS program
- Latest highlights from the program include:
- RXDD131: 4.38m @ 19.07 g/t Au from 387.98m,
- incl. 1.73m @ 41.43 g/t Au from 389.96m
- RXDD119: 4.56m @ 14.60 g/t Au from 220.64m
- RXDD115: 2.99m @ 21.11 g/t Au from 249.88m
- RXDD119: 4.0m @ 7.37 g/t Au from 162.0m
- RXDD132: 7.19m @ 3.90 g/t Au from 263.61m
- RXDD133: 2.83m @ 6.53 g/t Au from 431.00m
- RXDD128: 3.82m @ 4.51 g/t Au from 364.59m,
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- incl. 1.73m @ 8.22 g/t Au from 364.59m
- RXDD122: 0.95m @ 13.50 g/t Au from 204.44m
- §These results further demonstrate the continuity of high- grade gold mineralisation along the Youanmi greenstone belt belt, and the potential for resource growth both at depth and along-strike, with discovery potential to the south
- 35,000m Step-up drill campaign well underway with the plan to bring forward ounces and increase the mine plan
The program focused on converting Inferred stopes at Pollard, United North and Youanmi Main to higher confidence Indicated classification and providing material for metallurgical testing for the upcoming Definitive Feasibility Study (DFS) – on track for H2 CY25.
This final consignment of diamond assay results are the fourth batch of assays results returned from the drill program and have been entirely drilled from the Pollard, Youanmi and United North areas (Figure 1).
Rox Resources’ Chief Executive Officer, Phillip Wilding, commented:
“It’s pleasing to round out the 11,000m RD and DD drilling program with another batch of excellent intercepts.
“More importantly, the program has significantly improved our knowledge of the high grade and underexplored Youanmi ore system, and shown that mineralisation remains open at depth.
“Next steps are to convert Inferred areas of the Resource to the higher confidence Indicated classification, and finalise key intercepts of sample material for metallurgical test work to feed into the Youanmi DFS.
“We are excited to have commenced the 35,000m Step-up program to potentially bring forward ounces in the mine plan and significantly increase the size of the Pollard ore zone.”
Youanmi Major Growth Drill program
Resource drilling has focused on converting selected Inferred stopes in the current Mineral Resource of 16.2Mt at 4.4g/t Au for 2.3Moz (Indicated: 10.7Mt at 4.5g/t Au for 1.6 Moz : Inferred 5.5Mt at 4.2g/t Au for 0.7 Moz) 1 to higher confidence Indicated classification at Pollard, United North and Youanmi Main as shown in plan on Figure 1. The drilling has also provided both sample material for metallurgical testing and valuable geological data for the pending Definitive Feasibility Study (“DFS”) planned for second half of 2025.
Figure 1: Plan view of the Youanmi Gold Project featuring drill hole collar locations and 2024 Resource outline overprinted on aerial photography
Outside of the immediate resource area, drilling was also conducted on near-mine exploration and focused on the Youanmi South prospect area, or Paddy’s Lode, first reporting high-grade intercepts in 20232. The drilling at Paddy’s has complimented the Company’s exploration strategy moving south along the Main Lode Shear Zone (MLSZ) and adding additional gold ounces to the Resource. Youanmi South has the potential to grow the Resource above the 103kozpa Production Target outlined in the recently completed Pre-Feasibility Study (“PFS”)3.
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This article includes content from Rox Resources 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.
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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This article includes content from Alice Queen 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.
