Yinnetharra Lithium Project Maiden Mineral Resource Estimate
Perth, Dec 27, 2023 AEST (ABN Newswire) - Delta Lithium Limited (
ASX:DLI) is pleased to announce a Mineral Resource Estimate for its 100% owned Yinnetharra Project in the Gascoyne region of Western Australia.
Highlights:
- Delta Lithium is pleased to report a maiden Mineral Resource Estimate (MRE) at the Yinnetharra Lithium Project:
o combined Inferred and Indicated Mineral Resource Estimate of:
25.7Mt @ 1.0% Li2O (at a 0.5% Li2O cut off)
o 26% of the MRE in higher confidence Indicated category: 6.7Mt @ 1.0% Li2O
- The Malinda prospect, at which this MRE has been reported, is the only prospect to have been drilled to date at Yinnetharra but is one of many with confirmed Lithium-caesium-tantalum mineralisation.
- The rapid definition and delivery of this Mineral Resource Estimate in just over 12 months from acquisition paves the way for subsequent development activities for the project to commence.
- Permitting activity and baseline environmental studies are already underway at Yinnetharra.
- The Jamesons Tenement, E09/2621 has been granted and heritage surveys will begin as soon as possible in the new year to pave the way for drilling programs to follow up mineralised pegmatite outcrops
- An enhanced drilling program at Yinnetharra is scheduled to commence in January.
- The addition of the Yinnetharra Mineral Resource Estimate takes Delta's combined Inferred and Indicated Lithium Mineral Resource Estimate to: 40.4Mt @ 1.1% Li2O (at a 0.5% Li2O)
The independent Mineral Resource Estimate has been prepared by Snowden Optiro for the Yinnetharra Lithium Project.
Commenting on the results Managing Director, James Croser says;
"This is a fantastic milestone for the development of our Yinnetharra Lithium Project. The speed with which this Mineral Resource Estimate has been defined since the acquisition of the Project in late 2022 is a true credit to the teamwork and tenacity of Delta's staff. Yinnetharra was a blank canvas 12 months ago, and our people have overcome many challenges to punctuate the end of 2023 with its release.
"This Mineral Resource Estimate is the foundation from which a mining lease application, scoping studies and further growth at Yinnetharra will proceed, with real potential now to support a significant lithium mining operation of large open pit scale. We believe that this is just the beginning for the Yinnetharra Project, with multiple mineralised Lithium-caesium-tantalum prospects yet to be tested over the massive project area.
"After a short break for the holidays, we will commence 2024 with renewed energy to build on this confidence, and for while this weakness in lithium prices may persist the Company will prioritise investment spend at Yinnetharra to explore for the significant upside potential. Ultimately, our work at Yinnetharra strives to deliver outstanding value for shareholders, which remains our enduring goal."
The Mineral Resource Estimate
The maiden independent Lithium Mineral Resource estimate was prepared by Snowden Optiro on the M1, M36, M42, M47, M69, pegmatites at the Company's wholly owned Yinnetharra Lithium Project in the Gascoyne Region of Western Australia. Delta has drilled 498 holes for 115,317 m providing the basis to report the maiden Mineral Resource Estimate. Other than those results referred to as new in Appendix 1*, including: YDRD018 68.9m @ 1% Li2O from 127.9m all results have previously been released to the market as detailed in the bibliography.
Lithium mineralisation at the Malinda Prospect is predominantly spodumene hosted, contained within multiple shallowly south and north dipping pegmatites that intrude folded mafic-sediment stratigraphy adjacent to the Proterozoic aged Thirty-Three suite granites.
Pegmatites dykes have a sheet like morphology and pinch and swell with thick parts of the pegmatites mineralised. The pegmatite dykes follow the folded stratigraphy. More than 5km combined strike length of pegmatites have been defined at Malinda to date.
Next steps for the Yinnetharra Lithium Project
Extensional and exploration drilling at the Yinnetharra project will continue to search for additional material to include in mining studies.
Drilling will also aim at infilling the existing Mineral Resource Estimate at Yinnetharra in a staged approach with the aim of converting potentially economic material into Indicated resource to underpin advanced studies and a mineable reserve.
Delta Lithium has an extensive program of mapping, geochemical sampling, heritage surveys, environmental surveys, to support further drilling, resource growth, studies and permitting in 2024 across the extensive tenement package at Yinnetharra of over 1,300 km2.
Engineering, metallurgical and geotechnical studies will commence in early 2024.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/98C50P3P
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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