Premier1 Lithium Limited (ASX: PLC) is hoping to expand on predicted mineralisation at the Montague project in Western Australia, noting an abundance of new pegmatites while undertaking maiden fieldwork there.
The company is progressing exploration in the area through farm-in arrangement with Gateway Mining (ASX: GML), which was decided last May, through which Premier1 can earn up to 80 percent of the lithium rights on the project.
Located 70 kilometres north of Sandstone along the Gum Creek Greenstone Belt, the territory comprising Montague hosts a sequence of metamorphosed basalts and volcano-sedimentary rocks. The use of SenOre’s machine learning system has also predicted a large lithium target there.
The greenstone belt underlaying it has however, never been explored for lithium, although pegmatites have previously been mapped by the Geological Survey of Western Australia (GSWA).
The pegmatites found by Premier1 are located along a mafic-ultramafic and siliclastic sequence of the greenstone belt up to 1 kilometre west of the main granite contact to the east. Additionally, at least two areas of interest have been identified showing prospectivity for lithium-caesium-tantalum (LCT) pegmatites.
With field mapping and sampling underway, new pegmatites continue to be found, as well as some green mica: Premier1 now aims to move towards planning of targets to be drilled in the second half of the year, based on sampling results.
CEO Richard Taylor said the finds at Montague suggested the company had a whole range of projects from which to expect great things.
“While we wait for assays from our first phase drilling at Abbotts North, the team has quickly mobilised to Montague which is showing considerable prospectivity based on initial surface mapping of pegmatites,” he said.
“Montague is shaping up to be every bit as exciting as the other projects in our portfolio.”
Premier1 is trading at 3c.
