Marindi Metals Ltd’s (ASX:MZN) shares are trading higher after securing a prospect located immediately adjacent to Western Areas’ (ASX:WSA) lithium prospect which had a hit of 50 metres at 0.95% lithium during drilling.
The project package is located in the Forrestania Greenstone Belt of Western Australia.
While tenements at the Mt Hope Prospect lie within 1 kilometre of significant historical spodumene intercepts reported by Forrestania Gold Mines in 1987, including 9 metres at 1.87% Li2O.
The Forrestania district has come into prominence in the lithium sector recently with the start-up of production from the Mt Cattlin spodumene project owned by General Mining Corp Ltd (ASX:GMM) and Galaxy Resources Ltd (ASX:GXY).
Interestingly, numerous pegmatites are known within the Forrestania Greenstone Belt as a result of accidental intersections in drill holes dating back to the 1970s that were targeting gold and nickel.
Marindi’s total tenement package in the Forrestania Greenstone Belt includes an area of 850 square kilometres and a strike length of 90 kilometres.
While Marindi remains focused on zinc at its Newman Base Metal Project in Western Australia, it will concurrently commence ground-based exploration for appraising the lithium potential at the Forrestania Project.
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