Mt Ida Drilling Update
Perth, Aug 8, 2023 AEST (ABN Newswire) - Delta Lithium Limited (
ASX:DLI) is pleased to announce an update for activities at both its 100% owned Lithium Projects at the Mt Ida Lithium Project in the Goldfields region of Western Australia.
Highlights:
- The Mt Ida Lithium Project in the Goldfields region of Western Australia, remains on track for approval to mine later this year.
o Initial Maiden Resource Estimate of 12.7Mt @ 1.2% Li2O reported in October 2022
o Granted Mining Lease, heritage and Mining Proposal submitted with objective to potentially commence a DSO Lithium mining operation before Christmas 2023
- Newly reported drilling results include:
o 27m @ 1.3% Li2O from 848m in IDRD245
o 21.2m @ 0.5% Li2O from 561.1m in SPRD045
o 20.9m @ 1.4% Li2O from 675.4 m in IDRD036N2
o 17.8m @ 1% Li2O from 477.9m in SPRD041N2
- 5 Rigs demobilised leaving 3 rigs continuing with exploration, engineering, metallurgy and hydrology holes, whilst the Resource Update is prepared.
Resource drilling is slowing down at Mt Ida in preparation for a Mineral Resource Update scheduled for September 2023. Exploration drilling is ongoing with complete results for the western portion of the granite expected soon. Three drill rigs will remain at Mt Ida undertaking exploration, sterilisation, engineering, metallurgy and hydrology drilling.
Commenting on the results Executive Chairman, David Flanagan said;
"This is now bringing us towards the end of the resource drilling to support a new mining operation from Q4 2023. Mt Ida is the only lithium project in the current Western Australian mines department currently under consideration. It is going to be the next lithium mine in WA.
The team have worked unbelievably hard and I am so proud of them all. Very few mining companies have achieved so much with so few.
A true speed to market strategy requires running multiple tasks in parallel accross mining, marketing, approvals, process engineering and exploration. Its not just moving quickly its about being attentive, responsive and making lots of decisions.
That means our shareholders get the best opportunity for exposure to the highest possible pricing" To date the Company has completed 471 holes for 97,965 metres (within calendar year 2023) at Mt Ida.
This announcement relates to results received from 28 Diamond Drill holes (DD). A further 40 holes from the Mt Ida Project are in the process of being assayed with results due in batches throughout the next few months.
Infill results from Mt Ida further demonstrate quality Lithium intercepts from the Mt Ida Project.
An aggressive program of infill and extensional drilling is coming to a close at Mt Ida. Much of the drilling has been designed to upgrade the resource from inferred to indicated classification.
Results received from Sister Sam and Timoni continue to demonstrate consistent high-grade lithium mineralisation. These results are progressively increasing confidence in the mining plans that are under development in advance of the final granting of the Mining Proposal that has been submitted to the Western Australian Department of Mines, Industry Regulation and Safety (DMIRS).
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/573G3ZC7
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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