Significantly, numerous outcropping pegmatites were mapped over a broad area with up to 7.16% lithium oxide (White Rocks prospect) and 6.24% lithium oxide (Goosewing prospect) in surface sampling.
Furthermore, up to 1.92% lead, 115 g/t silver and 1.04 g/t gold were identified in surface sampling at the White Rocks prospect.
Prospective areas and zones of interest
PNX Managing Director James Fox said: “We are very encouraged by the results and information gathered during initial reconnaissance work at the Kilfoyle Project which provide strong justification for adding the project to our portfolio.
“The project is within a highly mineralised province of the NT, where historic mining has occurred.
“Surface sampling has confirmed the multi-commodity potential within the Kilfoyle leases including pegmatite hosted lithium-tantalum, VMS hosted base and precious metals and nickel-copper-cobalt in the Woolianna Gabbro.”
Kilfoyle is less than 80 kilometres to the west of PNX’s Hayes Creek Project
Fox added: “Our next steps at Kilfolye will include detailed surface mapping and systematic sampling followed by an aeromagnetic survey and drilling of key prospects once the aeromagnetic survey results have been interpreted.
“This work will commence this quarter.”