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HIGHLIGHTS
The drill programme of up to ~9,000m is anticipated to commence in mid-May and will take up to 2.5 months to complete, subject to rig scheduling and drilling rates. The results will underpin an update to the current 11.2Mt @ 1.21% Li2O Dome North Mineral Resource Estimate, scheduled for early December Quarter 2022.
Cade Deposit: 11 holes planned in three phases. The first phase of up to 8 Reverse Circulation (RC) pre-collared holes with diamond tails (RCD holes) will be drilled at a vertical depth of ~100-200m below the lower boundary of the current lithium Resource. The positioning of the first phase holes aligns with the plunge of the thicker and higher-grade central zone within the Cade deposit. The second and third phase holes will be drilled above and below the Phase 1 holes, based on geological observations from these holes.
Davy Deposit: 11 holes planned, designed to test three zones. Three RCD holes will be drilled ~100m below the lower boundary of the current lithium Resource. Six RC holes will test the northern strike and two holes will test the southern strike of the Davy deposit.
Assays from the recently completed exploration and metallurgical diamond drill programme1 are expected by end-May with metallurgical test work to follow upon receipt of the assays. The test work results and updated MRE will underpin a Scoping Study due in the December Quarter 2022.