Prospect continues to return high-grade assays
Finfeed presents this information for the use of readers in their decision to engage with this product. Please be aware that this is a very high risk product. We stress that this article should only be used as one part of this decision making process. You need to fully inform yourself of all factors and information relating to this product before engaging with it.
Prospect Resources (ASX: PSC) has released further promising assay results from its Arcadia project located in Zimbabwe. These come on the back of impressive grades announced earlier in the month, providing management with further confidence that the group has only scratched the surface of its mining licenses which cover an area of more than 600 hectares.
The exploration target is up to 18 million tonnes at between 3% and 5% lithium dioxide and the positioning of its tenements in reasonably close proximity to other prominent deposits suggest the company is already impressive strike rate may continue.
As management highlighted recently a maiden 48 hold drill program intercepted lithium bearing pegmatites and more recently assay results from the first three drill holes returned a peak grade of 4.37%.
Assay results released today returned a peak grade of 3.1% lithium dioxide including some robust widths such as 22 metres grading 1.7% and 26 metres grading 1.4%. The following map highlights the most important results released today.
It should be noted that PSC is a high risk stock operating in an area where there is sovereign risk. Seek professional financial advice if considering an investment in the stock.
Only 20% drilled to date
Looking at the bigger picture, drilling to date has now covered approximately 20% of the company’s mining license area. The drilled strike of the 14 horizontally stacked pegmatites extends more than 1.7 kilometres south-west to north-east and some 700 metres down dip to the north-west, and they remain open along strike and down dip.
Looking at future share price catalysts, the company currently has five drill rigs on-site which are carrying out a range of test work to determine the best location for a mine processing plant and tailings storage facility.
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.