Quarterly Activities Report
Perth, July 31, 2023 AEST (ABN Newswire) - Delta Lithium Limited (
ASX:DLI) is pleased to provide the following report on activities undertaken during the June quarter, 2023.
June Quarter Highlights
- Completed Idemitsu Australia $46.4M Strategic Investment Agreement.
- Record metres drilled in the June quarter, comprising 82,589 metres completed (45,342m at Mt Ida, 37,247m at Yinnetharra). 8,894 samples currently with lab. Better drill results during the quarter include;
o Mt Ida Lithium Project
- 90.1m @ 0.95% Li2O from 650.8m in IDRD229W1
- 44.5m @ 1.2% Li2O from 357.3m in IDRD178
- 34.9m @ 1.3% Li2O from 398.3m in IDRD077
- 27.2m @ 1.2% Li2O from 430.4m in IDRD077W1
o Yinnetharra Lithium project
- 43m @ 1.22% Li2O from 66m in YNRD082
- 20m @ 1.29% Li2O from 28m in YRRD011
- 33m @ 1.9% Li2O from 218m in YRRD118
- 19m @ 1.6% Li2O from 190m in YRRD114
- 29m @ 1.5% Li2O from 205m in YRRD120
- Continued progress approval to commence mining at the Mt Ida Lithium Project expected in the 2H CY2023.
- Drilling results at Yinnetharra has now confirmed multiple mineralised pegmatites with commercial scale opportunity and strikes exceeding 1600 metres length.
- The company continues to recruit key people with extensive mine building and lithium experience to the team.
- Completed cooperation agreement with Mid West Ports in relation to supporting shipments out of Geraldton from 2H 2024.
Commenting on the June quarter, Chairman of Delta Lithium, David Flanagan said:
"The highlights tell the story. We are one of the most active explorers in the country right now. We are permitting a mine, building a terrific team, doing great deals and we are just getting started" "Yinnetharra continues to deliver over and over and Mt Ida is on track to be Australia's next lithium mining operation. There is going to be plenty of newsflow in the second half of 2023.
"Securing the support of Idemitsu Australia via a $46.4m placement. It is one of the largest ever investments by a traditional energy company in a critical minerals company. We are very pleased to have them on board and we see this as further support for the quality of the management team and our assets."
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/8T3W9UQ0
About Delta Lithium Limited
Delta Lithium Limited (ASX:DLI) is an exploration and development company focused on bringing high-quality, lithium-bearing pegmatite deposits, located in Western Australia, into production. With a strong balance sheet and an experienced team driving the exploration and development workstreams, Delta Lithium is rapidly advancing its Mt Ida Lithium Project towards production. The Mt Ida Lithium Project holds a critical advantage over other lithium developers with existing Mining Leases and heritage agreements in place. To capitalise on the prevailing buoyant lithium market, Delta Lithium is pursuing a rapid development pathway to unlock maximum value for shareholders.
Delta Lithium also holds the highly prospective Yinnetharra Lithium Project that is already showing signs of becoming one of Australia's most exciting lithium regions. The Company is currently undergoing an extensive 400 drill hole campaign to be completed throughout 2023.
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