PSC intercepts high grade lithium with all 16 drill holes

Published at Aug 3, 2016, in Small Caps

Drilling results are in from the 16 diamond drill holes at Prospect Resources’ (ASX:PSC) Arcadia high grade lithium project.

In total 1,170m was drilled with 16 holes, averaging a depth of almost 70m per hole.

All 16 drill holes intercepted pegmatites, with visible quantities of spodumene and petalite, with smaller amounts of eucryptite.

PSC drill holes

The drilling to date confirms the down dip extension on the main pegmatite exposed in the 1960’s Arcadia pit of which PSC has identified at least 14 pegmatite layers, 4 above the main pegmatite and 9 below.

The two main layers having an average 5.5m thickness, with some sections reaching 10m through the intersections.

The pegmatites were found to be flat laying and 80m below surface.

Further chip sampling was collected in one to two metre intervals in continuous traverses on the central eastern side of the weathered face of the Arcadia pit.

Results from chip sampling came back positive:

  • 6 samples returned > 4% Li2O
  • 28 samples returned > 3% Li2O
  • 95 samples returned > 2% Li2O
  • Peak grade of 4.37% Li2O

There is no guarantee that drilling results will result in positive investor returns, so apply caution when making any investment decision with regard to this stock and seek professional financial advice.

PSC lithium rock

At present 8% of PSC’s exploration area has now been drilled, with the next 15 planned drill holes set to double this land area.

An RC rig has been mobilised on the Arcadia lithium project site and is drilling the 15 holes.

PSC drilling

PSC will announce the results to the market once the remainder of the drilling has been completed.

Further in-depth analysis of PSC can be found here.

Please use this your due diligence when making any investment decision, there is no guarantee that drilling results will result in positive investor returns.

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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.

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