JOHANNESBURG (miningweekly.com) – Junior miner Kidman Resources shares surged on Friday as the company announced the discovery of a second high-grade lithium-bearing pegmatite at its Mt Holland gold project, near Southern Cross, in Western Australia.
Kidman said assays from the Earl Grey pegmatite had returned sample grades of up to 3.94% lithium (Li2O) and highly-mineralised intersections over widths of up to 52 m. All holes had ended in mineralisation.
Other strategic metals such as tantalum (up to 255 parts per million (ppm) Ta2O5), caesium (up to 0.162% Cs2O) and niobium (up to 359 ppm niobium pentoxide) all showed enrichment in zones within the Earl Grey pegmatite.
Earl Grey was drilled by the project’s previous owner as part of a gold exploration programme. As a result, the RC chips were not assayed for lithium and the holes were terminated while still in the mineralised pegmatite.
The Earl Grey results followed last month’s discovery by Kidman of the Bounty spodumene bearing pegmatite at Mt Holland. Assays from Bounty included grades of up to 1.53% Li2O over 54.2 m.
Shares in Kidman rose 74% to A$0.27 on Friday, from the previous day’s closing price of A$0.18 a share.
Edited by: Creamer Media Reporter
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