Premier1 Lithium

Results From First Drilling at Abbotts North Confirm LCT System

Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) advises that results have been received from the first drilling program at Abbotts North located 35km north of Meekatharra, Western Australia. The results show elevated lithium across the stacked pegmatites of up to 0.41% Li2O (24ANR007), confirming the continuation of the LCT system down depth and along strike.


HIGHLIGHTS

  • Assay results from Abbotts North confirm continuation of LCT system
  • Focus shifts to targets identified to the north and east of previous drilling
  • Field work over these newly identified areas has commenced
  • Premier1 is fully funded for second phase exploration in these areas

A total of 11 RC holes for 1,623m were drilled to test the main outcropping pegmatites at the Buttamiah Prospect. Additional studies of the outcropping pegmatites in the larger Buttamiah Prospect area including fractionation vectoring using K/Rb ratios suggest the core of the system to be located to the east of the previous drilling.

In addition, the data indicate that LCT pegmatites occur within the granites to the north of the drill area. Further mapping and sampling of pegmatites in these areas as well as over the remaining tenement package has commenced. Focus is to delineate drill targets of higher grades and greater thickness that have the potential to form a significant lithium deposit within the existing LCT system.

Premier1 is fully funded for any subsequent phase two drilling program.

Figure 1: Cross-section of intercepted pegmatites showing significant results >0.05% Li2O.

Figure 2: Geological map of the Buttamiah Prospect with collar locations of completed RC drilling.

Significant intercepts from RC drilling undertaken on the Abbotts North project in February 2024 are shown in Table 1a. Drill collar details are shown in Table 1b.


Click here for the full ASX Release

This article includes content from Premier1 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.

PLC:AU
The Conversation (0)
Jindalee Lithium

Jindalee Lithium Limited (ASX: JLL) – Trading Halt

Description

The securities of Jindalee Lithium Limited (‘JLL’) will be placed in trading halt at the request of JLL, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Friday, 15 November 2024 or when the announcement is released to the market.

Keep reading...Show less
  Metals Australia Ltd

Warrego East Drilling Permitted as Takeover Action Underlines Prospectivity of Tennant Creek Mineral Field

- Metals Australia exploring the Warrego East Copper-Gold project as London-listed Pan African Resources acquires holder of adjacent tenement in an $82M deal

Metals Australia Ltd (ASX: MLS) (“the Company”) is pleased to announce that its Mine Management Plan for the upcoming field exploration program at the Warrego East copper-gold project in the Tennant Creek Mineral Field has been authorised by the Northern Territory Government (Refer to Figure 1 and 2). Weather permitting, the field exploration program will be scheduled as soon as a land holder access agreement is finalised.

Keep reading...Show less
A green battery surrounded by rings.

Livium Secures Funding for Battery Recycling Facility

Livium (ASX:LIT) subsidiary Envirostream Australia has been granted AU$850,000 under Western Australia’s electronic waste infrastructure grant funding program.

Previously known as Lithium Australia, Livium is Australia's “first onshore company” for lithium and mixed battery recycling.

Since its inception in 2017, the company has been developing safe and innovative management solutions to address lithium-ion battery recycling, one of Australia’s biggest problems concerning waste.

“This grant from the WA government represents a meaningful step forward in our mission to establish a sustainable national battery recycling ecosystem,” Livium CEO and Managing Director Simon Linge commented in the release.

Keep reading...Show less
Lithium Universe

Successful Completion of Tranche 1 Share Placement

Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7”) is pleased to announce that further to its announcement dated 31 October 2024 (ASX:LU7 LU7 Completes Share Placement and Launches Entitlement Offer) (Announcement), it has now settled the first tranche of its share placement to sophisticated and professional investors (Tranche 1).

Keep reading...Show less
Red Tesla electric vehicle with lithium-ion battery icon in corner.

Where Does Tesla Get its Lithium? (Updated 2024)

As the energy transition continues to unfold, US electric vehicle (EV) pioneer Tesla (NASDAQ:TSLA) has been making moves to secure supply of the raw materials it needs to meet its production targets.

Lithium in particular has been top of mind for CEO Elon Musk. Back in 2020, the battery metal had a spotlight moment at Tesla’s Battery Day, when Musk shared that the company had bought tenements in the US state of Nevada, and was looking for a new way to produce lithium from clay — a process yet to be proven at commercial scale.

Lithium prices went on to hit all-time highs, but swiftly declined last year and continuing on a downward trend in 2024. Prices for other key battery metals have also decreased as EV sales growth has fallen across most global markets in the face of economic uncertainty and higher interest rates. According to Goldman Sachs research, EV battery costs are at record lows and are forecasted to fall by 40 percent between 2023 and 2025.

Keep reading...Show less

Latest Press Releases

Related News

×