Presentation - Reung Kiet Lithium Project
Perth, Feb 21, 2017 AEST (ABN Newswire) - Viking Mines Limited (ASX:VKA) is pleased to provide the Company's latest Presentation on Reung Kiet Lithium Project.
Reung Kiet Lithium Project is one of the few projects in the hard rock peer group which is positioned in a low cost, advanced industrial economy, and is close to all required infrastructure. It has exceptional access for all required inputs, and is in close proximity to the lithium end markets. Therefore, it has real prospects for lithium carbonate and hydroxide manufacturing.
Acquired Argo Metals Group Limited (Argo):
- 75% interest in the Reung Kiet Lithium Project.
- Orientation and reconnaissance soil and rock chip sampling, and mapping programs, delivering consistently strong results.
Combined strike based on pits, exposures and rock chips of ~2.5km:
- One of longest in peer group.
- Average rock chip grades of 1.55% Li2O, one of the highest in the peer group.
- Drill ready, drilling contract close to agreed.
- Licensing process in final stages, proceeding well with very strong support from local community and government.
- Project fits nicely into Thai Government industrial policy objectives, has support.
- Company underwritten by asset value and and/or $8m in cash receipts from the Akoase Gold Project sale.
Reung Kiet Lithium Project (VKA 75%)
The SE Asian tin-tungsten granite belt has globally significant production and history:
- A late 1960's major study identified lepidolite in pegmatites, then being mined for tin.
- Lepidolite was found to contain 3-4% Li2O.
- Significant focus on Reung Kiet (RK) and Bang I Tum (BIT) trend, the survey stated:
i."the pegmatites at Reung Kiet and Bang I Tum may well be the largest un-zoned lepidolite pegmatites yet recorded" and
ii."lepidolite is fairly evenly distributed both along the length of the pegmatite and from wall to wall. In places there is local enrichment of massive lepidolite"
- Old open cuts now contain water:
i.Reung Kiet: pit ~450m long, <120m wide, 30m deep, and sits in a +1km strike.
ii.Bang I Tum: several old mines along a 1.5km strike, main pit ~650m long, <130m wide, 30m deep.
Viking has additional applications in process, which capture that portion of the prospective trends that are available.
Reung Kiet Prospect
Work to date has identified a new significant lepidolite pegmatite trend:
- Work includes rock chip sampling, soil sampling, geological mapping and other observations.
- The Main Trend extends southwest along strike and exhibits excellent exposures of several lepidolite pegmatite dykes in a swarm of ~30m wide.
- Previous rock chip and channel sampling returned results of up to 1.9% Li2O (see Figure 2 in the link below).
- The second, new Eastern Trend is ~65-75m east of the Main Trend, ~1km long and runs parallel to Main Trend. Minor historical workings are present with individual dykes up to 4m wide.
i.Rock chip sampling indicates Li2O grades of 0.99% to 1.49% (see Figure 2 in the link below).
- Subtle lithium and rubidium anomalism suggest both lepidolite pegmatite trends are open to the North of the historical tin mine.
- Project is drill ready, subject to standard permissions.
Bang I Tum Prospect
The Bang I Tum project was a relatively large scale open pit tin mine.
- Mining for tin continued into the 1980's.
- The open cut is approximately 650m long and up 100-125m wide.
- Mining of weathered pegmatites reportedly extended to about 40m below surface.
- Additional smaller scale mining extended further along strike and the area is host to extensive alluvial and eluvial mining in many drainages.
- Previous rock chip sampling has yielded grades between 0.9 to 1.8% Li2O plus accessory tin (Sn) and tantalum (Ta2O5).
- A second trend has been located approximately 350m east of, and parallel to the Main trend with a length of approximately 1km.
- Several narrow pegmatite outcrops have been identified approximately 3km and 6km along trend, southwest of Bang I Tum.
To view the presentation, please visit:
About Viking Mines Limited
Viking Mines Ltd (ASX:VKA) (FRA:AVI) was established in 2007 to explore for, develop and mine mineral deposits in Ghana, West Africa. The Company holds more than 250 sq km of ground in two project areas, West Star/Blue River and Akoase East and West. Both projects are located in southern Ghana within the Ashanti Gold Belt, one of the most highly gold endowed and tightly held geological provinces in the world. Numerous multi-million ounce gold deposits are located within and on the margins of the Ashanti Gold Belt, including two of the largest gold deposits in the world, Obuasi and Tarkwa.