Bulletin Resources Limited ('Bulletin', 'BNR') is pleased to provide an update on its Ravensthorpe Lithium project following a review of historical exploration data.
The 57km2 tenement is located 12km southwest and along strike of Galaxy Resources Limited's Mt Cattlin Lithium Mine. The tenement contains known lithium bearing pegmatites and has potential for gold.
Bulletin believes the area is underexplored and pegmatite exploration targets comprise: Outcropping pegmatites that have had little or no previous exploration
Non-outcropping or buried pegmatites
Lithium at depth below the outcropping Horseshoe pegmatite that has been previously drilled
Additionally, the potential for gold is yet to be tested
Greenstones at the Ravensthorpe Lithium Project host a swarm of pegmatites, loosely referred to as the Cocanarup Pegmatites. The pegmatites are considered LCT (Lithium-Caesium-Tantalum) type pegmatites. Outcropping pegmatites have been initially tested by rock chip sampling by past explorers. Only one pegmatite outcrop has had follow up exploration with a costean and a small drill program. Costean sampling of the lepidolite-spodumene mineralised Horseshoe pegmatite returned a result of 10m @ 1.1% Li2O including 1m @ 2.91% Li2O (refer ASX: Lithium Australia (LIT) releases dated 26 May 2017 and 1 September 2017).
Unexplored Potential of other Outcropping Pegmatites
Outcropping pegmatites in the tenement area that have yet to be drilled include Deep Purple, Quarry and Eastern. Deep Purple and Deep Purple South pegmatites lie either side of the eastern boundary of the tenement. The pegmatites dip moderately west into Bulletin's tenure. Both spodumene and lepidolite mineralisation is reported in mapping with the northern Deep Purple pegmatite recording a 20m long lepidolite core. Mapping at Deep Purple also reported a weathered spodumene rock chip sample grading 6.6% Li2O. The Quarry pegmatite is recorded as being up to 22m thick, gently dipping to the west. The pegmatite was originally mined for tantalum with unconfirmed production of 750kg of tantalite (a tantalum bearing mineral) from 1,500t of pegmatite. Lithium mineralisation at Quarry is hosted in massive zinnwaldite and lepidolite where these minerals are reported to constitute up 30% of the rock. The Eastern pegmatite trends north for 1km and is approximately 80m wide at the surface and dips 40 degrees west giving a true thickness of approximately 40m. Minor rock chipping of the pegmatite has shown minimal elevated lithium grades to date. Weathering of the pegmatite may have leached out near surface lithium mineralisation and further exploration is warranted.
Non-outcropping or Buried Pegmatite Potential Mapping by previous explorers supports the potential for additional pegmatites that have yet to be explored as they are not outcropping and buried by scree. Spodumene float was noted upstream of the Horseshoe pegmatite in the central part of the tenement. An outcrop with green spodumene, similar to the spodumene type of the Mt Cattlin deposit, has also been recorded in a creek bed west of the Deep Purple pegmatite. The Phillips South area is an immediate target for additional pegmatites that is largely obscured by colluvium and scree. It is west of a mapped pegmatite located near the eastern boundary of the tenement. The area is relatively untested and anomalous lithium grades in rock chips to 1.2% Li2O have been recorded. The area of interest is 600m wide and 1,300m long. Although the outcrop is limited, green muscovite which is indicative of lithium mineralisation, has been recorded in mapping.
Non-outcropping or Buried Pegmatite
Potential Mapping by previous explorers supports the potential for additional pegmatites that have yet to be explored as they are not outcropping and buried by scree. Spodumene float was noted upstream of the Horseshoe pegmatite in the central part of the tenement. An outcrop with green spodumene, similar to the spodumene type of the Mt Cattlin deposit, has also been recorded in a creek bed west of the Deep Purple pegmatite. The Phillips South area is an immediate target for additional pegmatites that is largely obscured by colluvium and scree. It is west of a mapped pegmatite located near the eastern boundary of the tenement. The area is relatively untested and anomalous lithium grades in rock chips to 1.2% Li2O have been recorded. The area of interest is 600m wide and 1,300m long. Although the outcrop is limited, green muscovite which is indicative of lithium mineralisation, has been recorded in mapping.
Contact:
Paul Poli
Tel: +61 8 9230 3585
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