Spodumene Identified at Higginsville Lithium District

Kali Metals Limited (ASX: KM1) (“Kali” or “Company”) is pleased to announce that preliminary exploration programs completed pre-IPO have identified and sampled lithium bearing pegmatites across multiple locations within the Higginsville District Scale tenement holding.

Highlights

• The Higginsville Lithium District comprises approximately 1,571km2, which has been separated into eight project areas (Figure 1)
• Spodumene identified in multiple areas at the Spargoville Project, one of the Company’s projects within the Higginsville Lithium District
• Assays from rock chip samples returned results up to 3.69% Li20, with highlighted results including:
  • Parker-Grubb Prospect KCSA049 3.69% Li20, 349 ppm Ta
  • Flynn-Giles Prospect KCSA037 1.63% Li20, 258 ppm Ta
  • Flynn-Giles Prospect KCSA030 1.24% Li20, 136 ppm Ta
  • Green Flame Prospect KCSA043 1.27% Li20, 41 ppm Ta
• Initial assays from rock chip samples at the Mt Henry Project returned a lithium result of 1.02% Li20, <10 ppm Ta in sample KCSA039
• First pass soil sampling program completed at Spargoville and Widgiemooltha Projects
• Ongoing soil sampling programs planned to cover all eight Projects in 2024
• Reverse circulation (RC) drilling program at the Spargoville Project is scheduled to commence in the first half 2024, the first lithium-focused drilling undertaken in the area.

In late December 2023 a first pass soil sampling program was completed across the Spargoville project and the northern section of the Widgiemooltha project area. Assay results pending.

Stuart Peterson, General Manager Geology commented:

“The Higginsville Lithium District portfolio has already proven to be prospective for lithium exploration with spodumene identified in multiple locations. Our exploration team, who have extensive lithium exploration experience, have set up ongoing exploration pathways for identifying new lithium discoveries across what is an impressive, district scale tenement holding.

I look forward to updating the market as the Higginsville Projects progress, along with regular updates from the Company’s other lithium Projects in the Pilbara region of Western Australia and the Lachlan Fold Belt in Australia’s eastern states.“

Further large-scale geochemical soil sampling programs have been planned across the entire Higginsville Lithium District, utilising a rolling soil sampling program to cover the prospective ground across the eight Projects.

A targeted RC drilling program is expected to commence at the Spargoville Project in the first half of 2024 to drill test a number of the outcropping LCT pegmatites.

Higginsville Exploration Strategy

The Higginsville Lithium District covers approximately 1,571 km2 of land holding with Kali owning 100% of the lithium and associated battery mineral rights across these tenements.

Within the Higginsville Lithium District portfolio, eight Projects (Figure 1) have been identified as having a prospective geological setting to host LCT pegmatites. Some of these areas have existing mapped outcropping pegmatites with spodumene identified, while in other areas, pegmatite occurrences have been logged within the existing drilling intercepts throughout the extensive historical gold drilling database.

The Kali exploration team has developed a specific exploration program for each Project, to be implemented throughout this year in order of prospectivity.

This approach allows the implementation of systematic exploration programs across the Company’s entire tenement holding in the Higginsville Lithium District.

Large-scale geochemical sampling programs have been completed across the Spargoville and Widgie Projects. Additional programs are planned following further analysis and a comprehensive understanding of the area’s potential. Assay results from these additional programs are pending.

Higginsville Early Results

Rock chip samples taken during the Companies first field trip have returned grades greater than 1.0% Li20 across multiple Projects. These samples were taken from outcropping lithium, cesium, and tantalum (LCT) pegmatites during the initial site visits. Highlighted results below:

Spargoville Project (Figures 2 and 3)

• Parker-Grubb Prospect KCSA049 3.69% Li20, 349 ppm Ta
• Flynn-Giles Prospect KCSA037 1.63% Li20, 258 ppm Ta
• Flynn-Giles Prospect KCSA030 1.24% Li20, 136 ppm Ta
• Green Flame Prospect KCSA043 1.27% Li20, 41 ppm Ta

Mt Henry Project (Figure 6)

• Dave’s Claim Prospect KCSA039 1.02% Li20, <10 ppm Ta

Commencement of Drilling at Spargoville

With the early field success at the Spargoville Project, the Company is planning a maiden drilling program to test the Flynn-Gyles and Green Flame LCT pegmatites. The program is expected to consist of approximately 10,000m of RC drilling and will focus on known spodumene occurrences and outcropping tends, expanding to step-out drilling along strike and down dip. The Company has the capacity to extend the drilling program as required.

The drilling program will be the first lithium-focused exploration undertaken on the Company’s Spargoville pegmatites.

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