First pass assay results from Ancasti lithium project.
At Reflejos del Mar in the Villisman group of concessions 14 holes have been completed over a length of approximately 900 metres. News released today related to samples of the first six holes which included 7 metres grading 2.17% lithium oxide.
All six holes had lithium grades in excess of 1%, and in three of the six, grades of up to 3 metres at 2.77% were recorded.
Management noted that five holes at Ipizca II intercepted the pegmatite dyke that is exposed at surface and within an old open pit and tunnel system, but only one interval returned significant grades of lithium oxide.
Drilling is nearing completion at Campo el Abra where eight holes have been drilled, and results are expected before the end of March.
The drill rig is moving to Santa Gertrudis this week where it will continue the first-pass program, the aim of which is to provide initial information on four of the eleven quality pegmatites that make up the Ancasti lithium project.
Summarising recent and upcoming developments, Managing Director Chris Gale said, “These first assays are extremely encouraging displaying high-grade spodumene at depth and this result is once again proving our theory that the historical lithium mines that we have secured are potentially very economic”.
It should be noted here that LRS is an early stage play and investors considering this stock for their portfolio should seek professional financial advice.
From a broader perspective, Gale also highlighted the fact that as well as getting off to a strong start, there is a significant amount of drilling to complete and a lot more assay results to come from LRS’s favoured targets.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.