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Lithium Australia NL to reveal assays from Ravensthorpe in early August

Ravensthorpe has a strong similarity to the Mt Cattlin lithium mine.

Drilling has wrapped up at Ravensthorpe

Lithium Australia NL (ASX:LIT) has some major exploration news pending, following the company wrapping up a reverse drilling program covering 26 holes for 959 metres at the wholly-owned Ravensthorpe project in Western Australia.

The drilling program was designed to define the structural and geological setting of the Horseshoe pegmatite and to test for economic lithium mineralisation.

The pegmatite is flat-lying with a footprint of 800 x 800 metres, and contains both lepidolite and spodumene.

Adrian Griffin, managing director, commented:

"The large footprint, substantial thickness and shallow dip of the Horseshoe Pegmatite, provides an excellent target.

"The identification of lithium minerals within the Pegmatite clearly demonstrates the very strong similarity to the pegmatite being mined nearby at Mt Cattlin, by Galaxy Resources (ASX:GXY).

"The Ravensthorpe area is showing a lot of promise and we look forward to improved weather conditions later in the year to enable the resumption of drilling which will focus on Deep Purple."

Quick facts: Lithium Australia NL

Price: 0.13 AUD

Market: ASX
Market Cap: $116.63 m

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