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Lithium Australia NL continues to build lithium war chest

Rock chip samples graded up to 3.94% lithium oxide.

The pegmatites also contained rubidium and caesium mineralisation.

Lithium Australia NL (ASX:LIT) continues to add to its portfolio of lithium prospects by discovering lithium bearing pegmatites at its Lake Johnston project in Western Australia.

Rock chip samples grading up to 3.94% lithium oxide were identified during reconnaissance exploration.

The pegmatites also contained rubidium and caesium mineralisation.

The company recently consolidated lithium rights at Lake Johnston with Lefroy Exploration Ltd (ASX:LEX).

Adrian Griffin, managing director, commented:

“Lake Johnston has the right geological environment to produce abundant lithium pegmatites – it has large, fertile granites, adjacent to country rocks that have the most prospective physical characteristics for pegmatite emplacement.

“It is not surprising that our initial examination has revealed very prospective lithium pegmatites.”

Exploration results

Five lithium prospects have been identified to date at Lake Johnston being Whitten, Bulldog, Boundary, Trackside, and Floyd.

Twenty one rock-chip samples were collected and submitted for assay.

Highlights from rock chip assays included 3.03% lithium oxide, 3.84% lithium oxide, 3.62% lithium oxide, 3.34% lithium oxide and 3.94% lithium oxide.

The pegmatites are lepidolite rich but also contain a number of other lithium minerals, including zinnwaldite which, in some cases, contains high levels of caesium.

The configuration is similar to a number of other Western Australia pegmatite occurrences, including the recently discovered Earl Grey lithium deposit by Kidman Resources Ltd (ASX:KDR) located 70 kilometres away.

Similar discoveries have also been reported in the area by Poseidon Nickel Ltd (ASX:POS).

Lithium Australia portfolio

Lithium Australia has projects in the following jurisdictions:

- Western Australia: The Gascoyne; Pilgangoora; Ravensthorpe; Seabrook; Lepidolite Hill;
Greenbushes; Lake Johnston; and Widgiemooltha projects; 
- Northern Territory: Bynoe;
- Queensland: Cape York; and
- Mexico: A 25% interest in the Electra lithium project.

Within these projects the company has various corporate alliances and joint ventures with Pilbara Minerals Ltd (ASX:PLS), Focus Minerals Ltd (ASX:FML), Alix Resources Corp (CVE:AIX), Cazaly Resources Ltd (ASX:CAZ), Tungsten Mining NL (ASX:TGN), Venus Metals Corporation Limited (ASX:VMC) and Lefroy Exploration Ltd (ASX:LEX).

Quick facts: Lithium Australia NL

Price: 0.13 AUD

Market: ASX
Market Cap: $116.63 m

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