Lanthanein Resources Ltd (ASX:LNR, OTC:FRNRF) has identified new gold, copper and nickel soil anomalies in a recently completed soil sampling program at the Lady Grey Lithium Project in the Forrestania Greenstone Belt of Western Australia.
A tenement-wide UltraFine+™️ soil sampling program was completed on a minimum spacing of 400 metres x 100 metres for 1,893 soil samples with the company identifying multiple coincident gold, copper and nickel anomalies including five highly anomalous gold soil anomalies representing areas with >50ppb gold.
Large gold anomaly
The largest gold anomaly extends over 2 kilometres of strike and is in a highly favourable structural setting with Lady Grey being directly adjacent to Covalent Lithium’s (SQM & Wesfarmers (ASX:WES)) Earl Grey Mine, 189 million tonnes at 1.53% Li2O at Mount Holland.
Encouragingly for Lanthanein’s gold prospects, the historic Bounty Gold Mine, which produced ~1.3 million ounces of gold, is also at Covalent Lithium’s project site.
Copper and nickel as well
The sampling returned a peak gold result of 256ppb, with a total of 87 samples returning ≥25ppb gold. There was a peak copper result of 170ppm with 300 samples returning ≥50ppm copper and a peak nickel result of 263ppm with 464 samples returning ≥100ppm nickel.
Lanthanein's technical director Brian Thomas said: “We are greatly encouraged by the identification of multiple new gold, copper and nickel anomalies picked up by the recent tenement-wide soil sampling program which adds another dimension to the project-wide prospectivity following the recent discovery of two large lithium anomalies, Godzilla and Avenger.
“Well known for gold”
"The Forrestania region is well known historically for its significant gold production with the old Bounty Mine producing ~1.3 million ounces, plus the region has proven nickel endowment with the IGO’s, Forrestania Operations ~30 kilometres to the south.
"We will now accelerate our work programs and approvals processes to be drilling these targets by mid-year.”
Samples were assayed at LabWest Minerals Analysis Pty Ltd (LabWest) using the Ultrafine+ technique and there appears to be strong spatial correlation between gold, copper, nickel and sulphur anomalism at Lady Grey.
UltraFine+ analysis is now an established approach to surface exploration analysis using proven geochemical methods to identify sensitive signals at surface, proving useful to help “see through” shallow to moderate cover.
Exploration reconnaissance and further geochemical sampling is planned to investigate the potential for magmatic sulphides and the presence of gossanous outcrop or subcrop.