De Grey Mining’s rock sampling discovers high grade lithium
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.
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.
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.