Caeneus to accelerate geophysical work program at Scotty’s South
Caeneus Minerals (ASX:CAD) is set to advance its exploration program at Scotty’s South deposit.
An announcement was made last week by Iconic Minerals regarding highly anomalous lithium results in the sediments within the Bonnie Claire project in the Sarcobatus Flats region. Proving the existence of lithium rich horizons outside of the Clayton Valley.
Iconic Minerals indicated the discovery of lithium in the drill cuts of up to 1410 ppm lithium at Bonnie Claire, with is located immediately north of CAD’s Scotty’s South project.
Please note that whilst the news is promising, it is yet to be proven that the same results will be found at CAD’s Scotty’s South deposit.
The Sarcobatus Flats area is around 1.5 times larger than the nearby Clayton Valley’s basin, increasing the potential value of the site and the volume of production resource.
CAD plans to conduct a more detailed local gravity survey at Scotty’s South, covering 10-15 line kilometres, to confirm the presence of a sedimentary basin with the potential to host lithium bearing brines.
At CAD’s other project Muddy Mountain a program of soil geochemistry is to be completed involving the collection of soil samples from various locations across the lithium prospective Horse Spring Formation.
Previous samples from the area have returned assays as high as 5,000 ppm lithium, that CAD is hoping to define a “district scale” multi-million tonne resource grading between 0.3% to 0.5% lithium.
The results from the geochemistry will be used to help define targets to follow up with drill evaluation for both lithium and borate.
Significant activity in the region may contribute to minor delays in the issue of exploration permits for CAD’s Lida Valley Project. Once permits are attained from the BLM, CAD will announce details about its upcoming drilling program.