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Cazaly Resources Limited (ASX: CAZ, Cazaly, or the Company) is pleased to provide an exploration update for the Sundown lithium project, located in the James Bay lithium province, Quebec, Canada.
Highlights
- The Sundown project comprises a very large holding of ~260km2 with over 200 documented outcropping pegmatites
- Large areas containing clusters of potential pegmatite outcrops, with several exposures up to 1.5km in length, have been identified as priority exploration targets to be assessed during initial exploration activities
- Helicopter supported inaugural exploration program scheduled for early September
The Sundown project represents a significant acquisition for the Company, comprising 510 mineral claims covering an area approximately 260km2 with over 200 documented outcropping pegmatitesa.
The large tenement holding is strategically positioned (Figure 1) between Allkem’s (ASX:AKE) James Bay deposit with a lithium resource of 110.2Mt @ 1.30% Li2Ob, and Patriot Battery Metals (ASX:PMT) Corvette Lithium Discovery with a lithium resource of 109.2Mt at 1.42% Li2O within a 214km2 land packagec.
Figure 1. Sundown lithium project location relative to significant lithium projects with quoted mineral resources.
Target generation and planned fieldwork
Targeting potential pegmatites in outcrop has been refined using data extracted from Québec’s SIGÉOM database including geofiche and compilation outcrop data, geological mapping, and various satellite imagery including multi-spectral data, and digital terrain models.
Target ranking of potential pegmatites is based on satellite imagery, geological observations of pegmatite occurrences made by the geologists of the Québec Ministry of Natural Resources and Forestry (MERN), elevated levels of lithium in lake bottom sediment samples, and proximity to the Gladman Suite, a new lithium prospective zone identified by MERN geologists in 2022. The Gladman Suite is characterised by the presence of numerous E-W trending pegmatitic granite dykes and the presence of tourmaline, garnet and muscovite in these rocks indicates a hyper aluminous composition suitable for the development of lithium mineralisationd. For a comprehensive list of all outcropping pegmatite locations on the property, please refer to Cazaly’s ASX announcement dated 31 May 2023.
The western half of the property has significant exposure of outcrop and as such targeting in this area has identified two large priority areas to initially test for lithium bearing pegmatites. Two priority target areas were also identified on the eastern side of the property (Figure 2).
Figure 2. Sundown lithium project with priority sample areas 1-4 circled in black.
Priority target areas have been defined in order to focus initial efforts for rock chip sampling among the +200 observed pegmatites on the property. The priority areas include clusters of potential outcropping pegmatites with several exposures up to 1.5km in length (Figures 3 and 4).
Click here for the full ASX Release
This article includes content from Cazaly Resources, 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 Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
Click here for the full ASX Release
This article includes content from Asian Battery Metals PLC, 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.
