Dakota Minerals - Highest Grade Results to Date at Lynas Find Lithium Project
Dakota Minerals’ latest results from maiden drilling at its Lynas Find lithium project, in the proven Pilgangoora region of WA, have boosted the overall weighted average grade of the intersections from 1.75 to 1.78% Li2O. Exceptionally high grade results included 21m @ 2.64%, 26m @ 1.96% and 26m @ 2.08% Li2O. Dakota has received analyses of 13 of the 26 holes drilled, with further results expected in the coming weeks and phase 2 drilling scheduled to commence in later this month.
- Latest drilling analyses yield highest grades to date, including 21m @ 2.64% Li2O
- Overall weighted average grade of drilled intersections so far has risen to 1.78% Li2O
- Drilling results give further indication that Lynas Find represents a high grade sector of the overall Pilgangoora Lithium District
- Mineralisation still open along strike and down-dip
- Further drilling results expected in the coming weeks
- Follow-up drilling expected to commence late May, following successful capital raising(1)
(1) DKO announcement, 2/05/2016
Dakota Minerals Limited (“Dakota”, “DKO”, or “Company”) is pleased to announce the latest results from its maiden drilling programme at the Lynas Find Lithium Project, in the Pilgangoora region of Western Australia. Exceptionally high grade results include 21m @ 2.64%, 26m @ 1.96% and 26m @ 2.08% Li2O, raising the overall weighted average grade intersected to date to 1.78% Li2O. These results give further indication that Dakota’s Lynas Find Lithium Project represents a high grade sector of the Pilgangoora Lithium District, which is currently the second largest hard rock lithium deposit in the world and growing rapidly.
Further results are expected in the coming weeks, and drilling is expected to recommence in late May at Lynas Find.
Lynas Find Lithium Project: Drilling Programme Details
From the maiden reverse circulation (RC) drilling campaign at Dakota’s Lynas Find Lithium Project, thirteen holes out of a total of 26 holes have now been analysed, with the remainder of the analyses ongoing and due to be released in the coming weeks. The drilling was mainly focused on initial testing of the Lynas Find Central pegmatite, with some reconnaissance holes also drilled in the north-east and western extensions. Drilling totalled 1,635m (not including a 35m re-drilled hole), less than initially planned, due to a lower angle of dip of mineralisation than expected. Thisis considered to be a positive result, as it lowers exploration cost, and improves the economics of any potential open pit mining scenario. A total of 877 samples, including QA/QC, have been dispatched to the lab, of which 578 have so far been reported. Of the thirteen holes analysed so far, all holes contained significant intercepts of greater than 1% Li2O, with the overall weighted average grade of the intersections now increased from 1.75 to 1.78% Li2O. The highest grade significant intercept to date was from 16LC008, with an exceptional 21m @ 2.64% Li2O from 17m (Table 1). The results are indicative of a higher grade mineralised area in Dakota’s Lynas Find Project compared to the regional average in the Pilgangoora Lithium District. Mineralisation is still open along strike and down dip. Further work at Lynas Find will include drilling to expand the known area of lithium mineralisation, expected to commence at the end of May.
Lynas Find Lithium Project
Dakota’s Lynas Find lithium project, to which Dakota has 100% rights, is located on and in the vicinity of an extensive lithium-tantalum bearing pegmatitic dyke swarm. Peer activity in the immediate area known as Pilgangoora, includes Pilbara Minerals Limited (ASX:PLS) and Altura Mining Limited (ASX:AJM), which have both discovered significant lithium and tantalum resources in recent times. Pilbara Minerals has identified a total Indicated and Inferred resource of 80.2Mt @ 1.26% Li2O and 32.9Mt @ 0.022% Ta2O5. On a neighbouring property, Altura Mining has identified an Indicated and Inferred resource of 35.7Mt @ 1.05% Li2O. Following recent exploration activity, the Pilgangoora area has been confirmed to contain one of the world’s largest hardrock lithium deposits, mostly in the form of the mineral spodumene