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Marindi Metals to drill for lithium in Forrestania greenstone belt

Marindi Metals (ASX:MZN) will commence drilling at the Gem Pegmatite mining lease, part of the Forrestania Lithium project north of Ravensthorpe in Western Australia.
Marindi Metals to drill for lithium in Forrestania greenstone belt
Marindi Metals to drill for lithium in Forrestania greenstone belt

The company’s program of work has been approved by the Department of Mines.

The drilling is planned to commence on 9 December 2016 and is expected to take about two weeks to complete.

The initial phase of drilling will test the pegmatite zone over a strike length of circa 1.5 kilometres to determine dip, strike and thickness.

Significantly, historic drilling and recent field mapping and soil sampling by Marindi has identified lithium pegmatites at several localities within the Gem Pegmatite mining lease.

The Forrestania greenstone belt, which hosts the highly successful Bounty Gold Mine and Flying Fox Nickel deposits, was recognised historically for its strategic metals potential.

However, it has had virtually no exploration for these commodities since the 1970s.

Marindi’s applications build on information gathered from previous field experience working in the belt in the 1980s.

The company also owns the Newman Zinc Project in the Capricorn Orogen of Western Australia.

The project represents a potentially large base metal occurrence with structurally controlled base metal, gold and uranium deposits.

The company’s share price has increased by more than 30% during the past three months, last trading at $0.017.

Marindi had a cash balance of $2 million as at 30 September 2016.

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