Assays Uncover 2km Lithium Target at Lake Johnston Project
Perth, Aug 16, 2021 AEST (ABN Newswire) - Okapi Resources Limited (
ASX:OKR) (26O:FRA) is pleased to announce that assays have been returned from the recent soil sampling program on Okapi's 100% owned tenement E63/2039 at its Lake Johnston Project. The tenement is located in the central Lake Johnston Greenstone Belt (Figure 1*). The belt hosts the Maggie Hays and Emily Ann underground nickel mines. Tenement E63/2039 is located approximately 450 km east of Perth, Western Australia and lies adjacent to Okapi's Mount Day Joint Venture Project (Farm-in to earn 75%) in the Lake Johnston Greenstone Belt.
Okapi's Executive Director, Mr David Nour said, "At this early stage of exploration on the project, we are very pleased to be receiving encouraging results for both gold and lithium. We will be looking to fast track exploration by confirming the on-ground expression of the structures and pegmatites hosting these metals, and working towards receiving the necessary clearances as soon as possible to drill these targets."
Okapi's program comprised 664 samples on a 200m x 50m grid, to infill and complement historical results. A strong lithium target has been generated from the soil program, with anomalous results recorded in lithium (Li), caesium (Cs) and rubidium (Rb) - metals typically associated with lithium-bearing (LCT) pegmatites.
An anomalous lithium zone above 25 ppm Li over 2,000 m of strike length has been recorded by Okapi from the results of this program (Figure 3*). A peak lithium-in-soil result of 86 ppm Li compares well with the nearby results on E63/1903 announced by Charger Metals NL (ASX:CHR) on 28th July 2021.
It was noted from basic mapping conducted during the soil program that several pegmatites were recorded in the zones of LCT mineralisation. The extent of these pegmatites will be confirmed in the near future with more detailed mapping and sampling, with a view towards finalising drilling positions.
Gold anomalies have also been determined that provide a robust confirmation and extension of historically-reported anomalism. Significantly, the anomalism extends over 5km on E63/2039 along interpreted structures where they lie under shallow soil cover and are predominantly not associated with the historic Maggie Hays Hill gold workings (Figure 4*). Most of the currently identified anomalous gold trends have not yet been tested by drilling.
The semi-continuous gold anomalies are present above highly metamorphosed intrusive mafics and ultramafics and are accompanied by a zone of silver (Ag), bismuth (Bi) and tungsten (W) anomalism supportive of a gold mineral system. The highest assay values (up to 78 ppb Au) correlate well with zones of shearing and deformation observed in outcrop.
Okapi's results reinforce the presence of elevated gold-in-soil anomalism along interpreted structures and in proximity to intrusive felsic bodies on the tenement. The anomalies also lay north-west along strike from gold targets on the adjoining tenement E63/1903. In total, the recent work has confirmed the presence and tenor of gold-in-soil anomalism over nearly 15km of strike length on the project tenements. It was also noted that the gold anomalism is open to the north, past the end of the soil sampling program.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/IMS3QKH0
About Okapi Resources Limited
Okapi Resources Limited (ASX:OKR) recently acquired a portfolio of advanced, high grade uranium assets located in the United States of America and in the Athabasca Basin, Canada.
Assets include a strategic position in one of the most prolific uranium districts in the USA - the Tallahassee Creek Uranium District in Colorado. The Tallahassee Uranium Project contains a JORC 2012 Mineral Resource estimate of 27.6 million pounds of U3O8 at a grade of 490ppm U3O8 with significant exploration upside. The greater Tallahassee Creek Uranium District hosts more than 100 million pounds of U3O8 with considerable opportunity to expand the existing resource base by acquiring additional complementary assets in the district.
The portfolio of assets also includes an option to acquire 100% of the high-grade Rattler Uranium Project in Utah, which includes the historical Rattlesnake open pit mine. The Rattler Uranium Project is located 85km from the White Mesa Uranium Mill, the only operating conventional uranium mill in the USA hence provides a near term, low-capital development opportunity.
In January 2022, Okapi acquired a portfolio of high-grade exploration assets in the world's premier uranium district, the Athabasca Basin. The Athabasca Basin is home to the world's largest and highest-grade uranium mines.
Okapi's clear strategy is to become a new leader in North American carbon-free nuclear energy by assembling a portfolio of high-quality uranium assets through accretive acquisitions and exploration.
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