logo-loader
viewBMG Resources Ltd

BMG Resources defines strong lithium brine potential at Salar West project in Chile

The geophysics results represent significant risk mitigation and enables the identification of immediate drill targets.

1540279481_Chileflag.jpg
Salar West is about 185 kilometres from the major port city of Antofagasta

BMG Resources Ltd (ASX:BMG) has defined strong brine potential in a transient electromagnetic (TEM) geophysical survey at its Salar West Lithium Project in Chile.

The survey was conducted as part of the project's acquisition due diligence and confirmed a strong conductivity response indicating lithium brines across the 4,200-hectare southern area of Salar West.

'Significantly mitigates exploration risk'

BMG managing director Bruce McCracken said: "The geophysics undertaken at the Salar West Lithium Project as part of our due diligence assessment has delivered very encouraging results in what is the world's best lithium brine province.

"This significantly mitigates exploration risk with the results confirming the strong brine potential across a broad area of the project.

"We are continuing to assess the detail behind the results in order to define drilling targets and undertake 3D modelling of the brine target zones."

Defining drill targets

Salar West is a series of claims on the south-western margin of the Atacama Salar in Chile's Antofagasta region.

The Salar de Atacama is a closed drainage basin, with important fault systems on its western and eastern margins.

It is interpreted that brine from the salar continues south into the area of the geophysical survey, where brine may be hosted in clastic sediments which are older than the salt units within the salar.

A salar is a salt-encrusted depression that may be the basin of an evaporated lake.

Evaluation of the types of sediments coincident with the high-conductivity response is ongoing, together with 3D modelling of brine target zones, to define targets for drilling.

Quick facts: BMG Resources Ltd

Price: 0.007 AUD

ASX:BMG
Market: ASX
Market Cap: $4.7 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Animoca Brands' Yat Siu talks significant expansion of partnership with Atari

Animoca Brands Corporation Ltd's co-founder and chairman Yat Siu speaks to Proactive about an expansion to its existing license deal with classic gaming company Atari. The move gives Animoca access to an additional 15 Atari games through to 2035 as well as the right to develop and publish...

43 minutes ago

2 min read