De Grey Mining’s rock sampling discovers high grade lithium

Published at Oct 11, 2016, in Small Caps

Recent surface reconnaissance of rock chip samples with De Grey’s (ASX:DEG) 100% owned tenement at its Turner River Project has defined high grade lithium up to 4.22%.

Turner River (see map below) is located within a world class lithium-tantalum province, located just 40km from the Pilgangoora Lithium Tantalum Project, the $640 million Pilbara Minerals and 20km from its Tabba Tabba Tantalum mine, where recent drilling results yielded a peak result of 4.22% Li2O, and an average of 2.5%-0.15% Li2O.

Turner River is located within a world class lithium-tantalum province, located just 40km from the Pilgangoora Lithium Tantalum Project.

A rock chip sampling programme was undertaken along a newly discovered 7.5km long zone of relatively sparsely outcropping pegmatites and found the area prospective for Lithium-Caesium-Tantalum (LST) style pegmatite hosted mineralisation.

Anomalous rock chip results include:

  • Tantalum Pentoxide (Ta205) to 221.6ppm
  • Caesium (Cs) to 1605ppm
  • Niobium (Nb) to 146ppm
  • Rubidium (Rb) to 8420ppm (0.84%)
  • Beryllium (Be) to 23800ppm (2.38%)

Results look to be better than Pilbara Minerals Ta205 which sits at 138ppm.

Of course this sampling is still in its early stages and there is a long way to go before results become fully clear. If considering DEG for your portfolio take all external information into account and seek professional financial advice.

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.

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