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Lithium Australia NL encouraged by initial Lake Johnston survey results

Lithium Australia NL (ASX:LIT) recently completed an infill airborne magnetic and radiometric survey over a portion of the Company’s Mt Day and Lefroy Exploration (ASX:LEX) Lake Johnston Project, 120 kilometres west of Norseman.

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LIT holds the lithium rights on the LEX Lake Johnston Project.

LIT holds the lithium rights on the LEX Lake Johnston Project.

The survey area covered areas of the Lake Johnston Greenstone Belt where the Maggie Hays Formation has been intruded by lithium-tantalum bearing pegmatites.

Previous airborne geophysics was not detailed enough to understand the geological and structural setting of the pegmatites.

LIT said based on the current 400 metre line spaced data, pegmatites in LIT’s project areas are interpreted to be associated with broad magnetic highs which are faulted.

In addition, the known lithium-tantalum occurrences lie on or proximal to a potassium anomalous ring structure.

The completed 50 metre line spaced aeromagnetic and radiometric survey will help to clarify the structural setting of the mineralisation.

The survey was completed in collaboration with Lefroy who holds the gold and nickel rights over E63/1777.

Further exploration activities are planned for 2017.

Adrian Griffin, managing director for LIT, commented:

"Lithium Australia continues to develop its outstanding lithium exploration projects to ensure an accessible pipeline of potential lithium feed.

"We are encouraged by these initial Lake Johnston survey results and are pleased with our collaboration with Lefroy Exploration Ltd."

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Price: 0.13 AUD

ASX:LIT
Market: ASX
Market Cap: $116.63 m
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