Premier1 Lithium

Yalgoo Fieldwork Commences Over Main Target Areas

Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) is pleased to announce the commencement of fieldwork at its Yalgoo lithium projects. Target delineation work includes tenement - wide soil and rock chip sampling over the main target areas previously identified by machine learning (ML) in the northern part of the Yalgoo project and the southeastern part of the Yalgoo West project. A total of 930+ soil samples will be collected on a 200x200m grid for Yalgoo and on a 100x200m grid for Yalgoo West (subject to pending land access approvals).


HIGHLIGHTS

  • Fieldwork commenced at the Yalgoo lithium projects
  • Large scale soil and rock chip sampling program underway
  • First phase to test main ML targets with almost 1000 soil samples to be collected
  • Proximate to known lithium occurrences

The two projects are located within the northern part of the Yalgoo-Singleton greenstone belt (YSGB) in the Murchison province. Both sequences are typical greenstones consisting of submarine tholeiitic and high-Mg basalt lava flows, large intrusive gabbro bodies overlain by BIF and volcanic rocks with minor ultramafic and felsic rocks. The greenstone belt is intruded and bounded by granitoids, predominantly granodiorite and monzogranite to tonalite with minor syenogranite. Pegmatites associated with the granites are recognised throughout the project area and especially along the granite greenstone contacts.

Tectonically the greenstone is bounded by major faults and shear zones, with the major Mulloo and Wagga Wagga Shear Zones on the eastern contact covered by the Yalgoo project and the major Salt River Shear Zone covered by the Yalgoo West project. Premier1 (utilising SensOre ML technology) identified a large, predicted lithium target within a region not previously highlighted for its lithium exploration potential. During target analysis lithium mineralised LCT pegmatites were identified by a number of adjoining companies, including Firetail Resources and Zenith Minerals, validating the emerging potential of the area for LCT pegmatites.

At Yalgoo, the predicted target forms a large cluster of Li prospectivity that was previously unidentified and untested representing lithium potential over the northern portion of the greenstone belt. Additionally, the eastern portion of the project is prospective for VMS copper and zinc. At Yalgoo West another cluster of Li prospectivity predicted unidentified and untested lithium potential over the western portion of the greenstone belt.

The greater Yalgoo project area encompasses two joint ventures. In the eastern portion of the project area (Yalgoo), Premier1 has the rights to earn up to 70% of all commodities except Rare Earth Elements in a farm-in announced on 12 May 2023 with Venture Minerals (ASX:VMS). In the western portion of the project area (Yalgoo West), the Company is in a farm in with Firetail Resources (ASX:FTL) where Premier1 may earn 80% of lithium rights by spending announced 7 November 2023..

The next steps on the broader Yalgoo project involve extensive target delineation activities to generate drilling targets for the second half of 2024.

Figure 1: Regional geological map of the greater Yalgoo project area including identified ML targets.

Figure 2: Planned first phase soil samples over greater Yalgoo project area.


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
Premier1 Lithium

Premier1 Lithium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Premier1 Lithium

Premier1 Lithium


Keep reading...Show less
Pursuit Minerals

$2.5 Million Capital Raise for Continued Development of Rio Grande Sur

Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Company”) is pleased to announce that that it has received firm commitments from sophisticated and professional investors and Directors to subscribe for a placement of approximately 714 million fully paid ordinary shares (“Shares”) in the Company at an issue price of AU$0.0035 per Share to raise gross proceeds of AU$2.5 million (“Placement”). Each placement participant will also be issued one attaching option for every two Shares subscribed for in the Placement (exercise price $0.007; expiry date 3 years from their date of issue) (“New Options”).

Keep reading...Show less
International Lithium

International Lithium


Keep reading...Show less
Reach Resources

17.65% Niobium & Exceptional REE Results from In-Situ Source at Wabli Creek Project

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to advise that assay results from the latest field program at Wabli Creek have identified a primary source of high grade Nb/REE mineralisation previously only found in surface eluvial samples on site (Figure 2).

Keep reading...Show less
European Lithium Limited

Critical Metals Corp. to Acquire Tanbreez, One of the World’s Largest1 Known Rare Earths Assets

European Lithium Limited (ASX: EUR, FRA:PF8, OTC: EULIF) (European Lithium or the Company) is pleased to announce that Critical Metals Corp. (Nasdaq: CRML) (Critical Metals Corp), a mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners, today announced that it has signed a binding heads of agreement to acquire a 92.5% controlling interest in the Tanbreez Greenland Rare Earth Mine (the Tanbreez Project) from Rimbal Pty Ltd., a company controlled by geologist Gregory Barnes (Rimbal). European Lithium will retain its 7.5% ownership in the Tanbreez Project.

Keep reading...Show less
Electric vehicle charging.

Volvo's Battery Passport Seeks to Improve EV Supply Chain Accountability

Volvo (STO:VOLV-B) has introduced a new supply chain tracker for its line of EX90 electric SUVs

The Wall Street Journal reported on June 4 that the tracker will provide transparency about the origins of raw materials — such as lithium, cobalt and nickel — used in the Swedish carmaker's electric vehicle (EV) batteries.

Known as a "battery passport," the tracker is a digital record that contains verified information on the raw materials' origins, weight, size and chain of custody, as well as the recycled content within each battery.

Keep reading...Show less
Lithium-ion battery.

5 Top Weekly TSXV Stocks: European Energy Metals Powers to 71 Percent Gain

The S&P/TSX Venture Composite Index (INDEXTSI:JX) declined 23.41 points last week to close at 588.25.

Gold was under pressure following reports on Friday (June 7) that the People’s Bank of China paused purchases of gold in May, ending an 18 month spree. Central bank buying has provided critical support for gold in 2023 and 2024.

In the first quarter of the year, China added 189 metric tons (MT) of the yellow metal to its reserves, but as gold sector expert Jan Nieuwenhuijs notes in a May 22 article, much of the Asian nation's buying has gone unreported.

Keep reading...Show less
Premier1 Lithium

Premier1 Lithium Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×