Soils Program Completed at Scottys Lithium Project Nevada
Perth, Aug 12, 2022 AEST (ABN Newswire) - Monger Gold Ltd (
ASX:MMG) is pleased to announce the completion of its auger soils sampling program at its Scotty Lithium Project in Nevada, USA. A total of 699 samples have been submitted to laboratory ALS, Reno Nevada. Assay results are expected in approximately 6 weeks.
Highlights:
- Extensive auger soils program now completed across the entire Scotty Lithium Project in Nevada, USA which covers 19,280 acres
- Historically, less than 3% of the Scotty Lithium Project has been tested previously with soil sampling - yet extremely strong and coherent anomalism over the sampled area
- Scotty Lithium Project is located 70km from Albemarle Corp's Clayton Valley (Silver Peak) Lithium Mine - the only producing lithium mine in the USA and 330km from Tesla's Gigafactory
- Assay results anticipated in approximately 6 weeks which will assist in the definition of drill targets for the maiden drilling program scheduled for the coming months
An extensive auger soil sampling program commenced in June covering the entire Scotty Lithium Project on 400m spaced traverses with samples taken at both 400m and 200m intervals along traverses. Historically, less than 3% of the total area of the project area had been previously soil sampled. Previous sampling completed returned extremely strong and coherent anomalism within the sampled area.
Monger's Chairman, Mr Peretz Schapiro, said:
"We are delighted to have completed this soils program within only 8 weeks of completing the acquisition of the Scotty Lithium Project. In conjunction with the recent appointment of our highly experienced CEO, Adam Ritchie, Monger is now poised to maximise shareholder value as it enters its next phase of growth. We look forward to announcing the first assay results shortly."
The new soil sampling program results will assist Monger in defining targets to test in the maiden drilling program, scheduled to start in the coming months. Previous soil sample programs were effective in delineating the adjacent Bonnie Claire Lithium Deposit, and as such Monger has anticipated that its soils program will greatly assist in its own lithium discovery.
The Company believes that there is a high probability that the project contains extensions of high-grade lithium mineralisation, similar to that delineated at the adjacent Bonnie Claire Deposit.
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About Loyal Lithium Limited
Loyal Lithium Limited (ASX:LLI) is a well-structured listed resource exploration company with projects in Tier 1 North American mining jurisdictions in the James Bay Lithium District in Quebec, Canada and Nevada, USA. Through the systematic exploration of its projects, the Company aims to delineate JORC compliant resources, creating value for its shareholders.
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