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Neometals Ltd ABN 89 099 116 631
Neometals Ltd (ASX: NMT) ("Neometals") refers to Mineral Resources Limited (ASX: MIN) ("MIN") Quarterly Activities report announced 29 September 2015 containing drill results for the first 46 RC drill holes of a 335‐hole resource infill and extension program at the Mt Marion Lithium Project in the Goldfields region of Western Australia.
During the December Quarter, 46 RC holes were drilled at the No.6 Deposit, for a total of 2,324 metres and 9 (83mm‐PQ) Diamond holes were drilled for a total of 693.2 metres on Deposits 1,2 and 2West. A typical cross section is below and a summary of significant intercepts is below.
The infill and extension drilling program has prioritised the near surface mineralisation. The drilling to date has identified that the mineralisation is laterally wider to the east, open to the north and east and possibly faulted off to the west. Generally the ore horizon is thicker than previously reported by Mineral Resources.
All the right elements
The first phase of the resource infill and extension project is targeted at extending the size and increasing the classification of the existing resources at Deposits 1,2,2West and 6, and newly acquired lithium, rights on part of Hampton Location 53 (see plan below). Mt Marion's current total Indicated and Inferred Mineral Resources are 23.24Mt at 1.39% Li2O and 1.43% Fe2O3, at a cut‐off grade of 0% Li2O (Appendix A).
A 30‐hole diamond drilling program for metallurgical and geotechnical purposes has been completed in January and the RC drill program continues with completion expected around the end of the March. New mineral resource and ore reserve estimates are planned for completion in the June and September Quarters respectively.
Hole_ID | MGA94Z51_Easting (m) | MGA94Z51_Northing (m) | AHD_RL (m) | From (m) | To (m) | Apparent Thicknes s (m) | Li2O (%) | Lithology |
MMRC0001 | 354367 | 6559436 | 385 | 45 | 63 | 18 | 1.76 | Pegmatite |
MMRC0002 | 354398 | 6559461 | 385 | 21 31 | 27 42 | 6 11 | 0.85 1.87 | Pegmatite Pegmatite |
MMRC0003 | 354421 | 6559488 | 385 | 25 35 | 31 52 | 6 17 | 1.39 1.69 | Pegmatite Pegmatite |
MMRC0004 | 354449 | 6559522 | 385 | 21 | 42 | 21 | 1.76 | Pegmatite |
MMRC0005 | 354478 | 6559552 | 384 | 10 | 28 | 18 | 1.24 | Pegmatite |
MMRC0006 | 354505 | 6559577 | 383 | 7 | 15 | 8 | 0.55 | Pegmatite |
MMRC0007 | 354365 | 6559488 | 386 | 54 | 73 | 19 | 1.69 | Pegmatite |
MMRC0008 | 354394 | 6559517 | 387 | 3 42 | 7 60 | 4 18 | 0.44 1.74 | Pegmatite Pegmatite |
MMRC0009 | 354424 | 6559548 | 386 | 34 | 51 | 17 | 1.49 | Pegmatite |
MMRC0011 | 354476 | 6559604 | 385 | 10 | 18 | 8 | 1.22 | Pegmatite |
MMRC0012 | 354394 | 6559519 | 387 | 78 | 96 | 18 | 1.47 | Pegmatite |
MMRC0013 | 354365 | 6559545 | 389 | 62 | 78 | 16 | 1.29 | Pegmatite |
MMRC0014 | 354393 | 6559573 | 387 | 47 | 66 | 19 | 1.42 | Pegmatite |
MMRC0015 | 354422 | 6559375 | 383 | 0 | 27 | 27 | 0.92 | Pegmatite |
MMRC0016 | 354452 | 6559407 | 383 | 6 26 | 24 40 | 18 14 | 1.78 1.55 | Pegmatite Pegmatite |
MMRC0017 | 354481 | 6559438 | 383 | 0 | 30 | 30 | 1.43 | Pegmatite |
MMRC0018 | 354506 | 6559467 | 383 | 0 | 24 | 24 | 1.10 | Pegmatite |
MMRC0019 | 354535 | 6559497 | 382 | 0 | 9 | 9 | 0.81 | Pegmatite |
MMRC0021 | 354424 | 6559324 | 382 | 4 | 31 | 27 | 1.60 | Pegmatite |
MMRC0022 | 354451 | 6559354 | 383 | 0 | 27 | 27 | 0.27 | Pegmatite |
MMRC0023 | 354480 | 6559375 | 382 | 0 | 15 | 15 | 0.15 | Pegmatite |
MMRC0024 | 354505 | 6559409 | 381 | 1 | 23 | 22 | 0.08 | Pegmatite |
MMRC0026 | 354456 | 6559296 | 381 | 0 | 20 | 20 | 0.83 | Pegmatite |
MMRC0027 | 354484 | 6559323 | 381 | 0 | 19 | 19 | 0.18 | Pegmatite |
MMRC0028 | 354509 | 6559355 | 381 | 0 22 | 11 30 | 11 8 | 0.09 1.06 | Pegmatite Pegmatite |
MMRC0029 | 354538 | 6559382 | 380 | 1 | 12 | 11 | 0.05 | Pegmatite |
MMRC0038 | 354336 | 6559582 | 390 | 72 | 89 | 17 | 1.70 | Pegmatite |
MMRC0039 | 354305 | 6559545 | 389 | 5 39 | 18 56 | 13 17 | 1.12 1.18 | Pegmatite Pegmatite |
MMRC0040 | 354370 | 6559606 | 389 | 28 58 | 35 75 | 7 17 | 0.67 1.84 | Pegmatite Pegmatite |
Hole_ID | MGA94Z51_Easting (m) | MGA94Z51_Northing (m) | AHD_RL (m) | From (m) | To (m) | Apparent Thicknes s (m) | Li2O (%) | Lithology | |
MMRC0041 | 354393 | 6559629 | 389 | 44 | 64 | 20 | 1.33 | Pegmatite | |
MMRC0042 | 354417 | 6559663 | 388 | 30 | 42 | 12 | 1.32 | Pegmatite | |
MMRC0043 | 354422 | 6559605 | 387 | 36 | 51 | 15 | 1.40 | Pegmatite | |
MMRC0044 | 354447 | 6559640 | 386 | 22 | 32 | 10 | 1.39 | Pegmatite | |
MMRC0045 | 354309 | 6559612 | 391 | 38 68 | 47 83 | 9 15 | 1.51 0.75 | Pegmatite Pegmatite | |
MMRC0046 | 354333 | 6559636 | 391 | 32 79 | 40 97 | 8 18 | 0.50 1.61 | Pegmatite Pegmatite |
*Significant intercept: Interval of continuous pegmatite >= 4m
**Li2O grades: Weighted average using assay interval length
For further information, please contact:
Chris Reed MediaManaging Director Richard Glass / Michael Weir
Neometals Ltd Citadel‐MAGNUS
T: +61 8 9322 1182 T: +61 8 6160 4900
E: info@neometals.com.au
COMPETENT PERSON'S STATEMENT
The information in this report that relates to Exploration Results is based on information compiled by Derrick Kettlewell, who is a full time employee of Mineral Resources Limited, operator of the Mt Marion Lithium Project. Mr Kettlewell is a Member of The Australasian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. The Competent Person consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Mt Marion Resource Table for 0% Li2O cut‐offCategory (JORC, 2012) | Tonnage (Mt) | Li2O (%) | Fe2O3 (%) |
Indicated | 10.05 | 1.45 | 1.33 |
Inferred | 13.19 | 1.34 | 1.5 |
Total | 23.24 | 1.39 | 1.43 |
Neometals Ltd. issued this content on 01 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 January 2016 22:40:27 UTC
Original Document: http://www.neometals.com.au/reports/643-MM290116.pdf