Premier1 Lithium identifies abundant pegmatite outcrops in new field program at Montague
Proactive Investors
Published Mar 25, 2024 09:58
Updated Mar 25, 2024 10:30
Premier1 Lithium identifies abundant pegmatite outcrops in new field program at Montague
Premier1 Lithium Ltd (ASX:PLC) has launched its field campaign at the Montague Lithium Project, some 70 kilometres north of Sandstone, within Western Australia's Gum Creek Greenstone Belt.
Fieldwork has been initiated in a bid to earn up to 80% of the lithium rights at Montague, as part of a farm-in agreement with Gateway Mining in May 2023.
The plan is to delineate areas of interest through fractionation vectoring of previously mapped pegmatites and mapping extensive new pegmatites in the first phase.
This project area, previously picked out as a significant target by SensOre Ltd’s machine learning system, features a terrain dominated by metamorphosed basalts and volcano-sedimentary rocks, interspersed with monzogranitic to granodioritic intrusions.
Premier1’s recent exploration efforts have unveiled significant new pegmatite formations along the greenstone belt, revealing high fractionation levels indicative of lithium-caesium-tantalum (LCT) pegmatite potential.
Further analysis planned
The first phase of field mapping and sampling has led to the identification of numerous pegmatites in two main areas, with further analysis planned to refine drill targets for the second half of 2024.
“While we wait for assays from our first phase drilling at Abbotts North, the team has quickly mobilised to Montague which is showing considerable prospectivity based on initial surface mapping of pegmatites,” CEO Richard Taylor said.
“Montague is shaping up to be every bit as exciting as the other projects in our portfolio.”
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