Business
Initial Canegrass Exploration Program Begins
Initial Canegrass Exploration Program Begins.
About this update from Corcel Plc
[{"type":"text","content":"\n\nCorcel PLC\n(\"Corcel\" or the \"Company\")\n \nInitial Canegrass Exploration Program Begins\n22 November 2023\nCorcel Plc (London AIM: CRCL), the Angolan focused exploration and production company, announces the beginning of initial exploration efforts at the Company's 100% owned Canegrass lithium project, in Western Australia. \nAntoine Karam, Executive Chairman of Corcel, commented: \"We are excited to have our initial field team on site at Canegrass in Western Australia. With lithium remaining extremely attractive across Australasia and meaningful potential for nickel at the project, we expect these results to inform and guide our next steps at the site. Whilst we continue to build momentum in our operations in Angola, we still believe material shareholder value exists in our Western Australian assets and look forward to progressing this activities on the ground.\" \nExploration Programme:\nThe Company has engaged APEX Geoscience (\"APEX\") out of Freemantle, Australia, to conduct initial exploration activities at the Company's Canegrass lithium project. The programme includes a first pass ground truthing programme designed to verify the interpreted pegmatite swarms originally delineated from satellite imagery analysis. The goal of the program is to investigate and confirm both the lithium and nickel prospectivity of the project. \nAPEX has conducted a desktop review of the historical surface and drilling geochemical data in order to highlight potential target areas for lithium and nickel mineralisation. Rock chip samples will be collected from each target area and these samples will be analysed in the field using a pXRF for Ni and lithium pathfinder elements including Rb, Sn, Cs, Ta, and K/Rb ratios. Geological observations of each pegmatite will be recorded, including the approximate dimensions of each outcropping pegmatite, visual abundances of minerals and if lithium minerals (spodumene, petalite and lepidolite) are present. \nAll rock chip samples will be submitted to ALS Global in Perth, Western Australia, to confirm field generated pXRF results. Multi-element analysis of the pegmatite samples will be completed using sodium peroxide fusion (ALS code MS-ME89L). Multi-element analysis of the remaining samples will be completed using four ac...