Capital Mining to drill test areas of high grade lithium assay results at Wolfhound
Capital Mining (ASX: CMY) announced on Friday that the next phase of exploration at its Wolfhound lithium project in the Republic of Ireland will start immediately with the program testing areas that delivered high-grade assay results during the first phase field program.
The Wolfhound project is located adjacent to International Lithium Corp’s (ILC) joint venture Avalonia lithium project with China’s largest lithium producer, Ganfeng Lithium. Management also noted today that due diligence on its recently announced prospective cobalt acquisition (Scotia cobalt nickel project located in Western Australia) is progressing well, with a market update imminent.
Confirmation of the acquisition of Scotia should be well received by investors given the sharp share price response as illustrated below when the purchase was flagged on March 9.
It should be noted that historical data in terms of earnings performance and/or share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
Looking specifically at the Wolfhound project, CMY’s maiden exploration program was successful in identifying lithium bearing pegmatites at the priority Ballon and Borris prospects.
Assay results from the first phase field work included an outstanding high grade rock chip assay of 2.47% lithium dioxide at the Borris prospect.
Should the company be able to provide further assay results in the vicinity of 2%, it is likely that the Wolfhound project will attract the interest of investors looking for an early stage project in the lithium space.
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
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.