New Lithium Bearing Pegmatite Discovery
Drilling to date has covered approx. 12% of the Company's exploration area. The drilled strike of the 14 stacked pegmatites extends more than 1km SW-NE and some 400m down dip to NW.
The Company's ground position now covers more than 600 hectares of mining licences.
Size of the Arcadia High Grade Lithium Project
An approximate 500m spaced scout drilling programme is being prepared to determine the overall size of this large scale lithium bearing pegmatite system - Arcadia High Grade Lithium Project. Prospect intends to fast track the drilling of this new discovery as part of the wide spaced scout programme. This drill programme is expected to cover some 500 hectares of the claims area. RC drill rigs are scheduled to return to site in early October to carry out further resources definition holes. This programme is expected to aid in the siting for the processing plant, camp accommodation and ancillary equipment.
Assay results received from the next two RC drill holes* returned a peak grade of 2.57% Li2O. Significant intersections are summarised as:
- ACR020 - peak grade 2.57% Li2O
-- 2m @ 1.49% Li2O from 22m
-- 5m @ 1.76% Li2O from 35m
-- 19m @ 1.597% Li2O from 43m
- ACR021 - peak grade 2.43% Li2O
-- 4m @ 1.21% Li2O from 33m
-- 15m @ 1.42% Li2O from 66m
*The Company is awaiting results from holes ACR004-019, and holes ACR022-ACR032
Two diamond rigs are drilling metallurgical test holes. The first three diamond holes are complete with both holes intersecting thick pegmatites and the next two holes are underway. The first samples are en-route to FT Geolabs for test work.
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About Prospect Resources Ltd
Prospect Resources Limited (ASX:PSC) is based in Australasia with operations in Zimbabwe and is a publicly listed company. We are committed to creating value for Prospect's shareholders and the communities in which our company operates. Our vision is to build a Southern African based mining company of international scale.
Prospect Resources Ltd