Hot off its $5 million dollar IPO earlier this month, Australian Critical Minerals has wasted no time getting to work at its critical metals focus portfolio, having kicked off mapping and sampling of its Cooletha Lithium Project in Australia’s renowned Pilbara region.
Hitting The Ground Running
Being the Company’s first exploration activity since listing, the extensive mapping and sampling program will target 10km of the Project’s 30km strike of outcropping pegmatite swarms with the objective of evaluating this high-priority area and defining high-priority targets for future drilling programs.
Figure 1: Mapped pegmatites across Cooletha
ACM’s field team will primarily focus on several high-priority targets across the 10km area where a number of pegmatite swarms with spodumene-bearing rock chips have been identified, with the Company planning to use a diamond saw to cut channel samples at the surface to retrieve high-quality samples up to JORC standards.
The program will be undertaken on a two weeks on, one-week off rotation, with ACM anticipating that initial results will be returned six weeks after the first rotation is complete.
Promising Pilbara Portfolio
In addition to the 30km of pegmatites already mapped by the explorer, Cooletha comprises an excess of 100 square kilometres of lithium prospective land, with the pegmatite swarms hosted by the Project outcropping up over several hundred metres and being up to a hundred metres wide.
Further compounding the Project’s potential is its prime position within Western Australia’s Pilbara, which is quickly emerging as a powerhouse for lithium exploration with a number of explorers big and small developing promising projects around Cooletha.
Figure 2: Cooletha and surrounding projects
The Project sits just south of a number of significant discoveries such as Pilbara Minerals 223Mt @ 1.25% Li2O Pilgangoora Lithium Project and MinRes’ 259Mt @ 1.17% Li2O Wodgina Lithium Project.
Particularly compelling is the Project’s proximity to Trek Metal’s Tambourah Lithium Project which lies just 30km to Cooletha’s North, where a 3,800-metre maiden drilling campaign has commenced following up on rockchip results up to up to 3.02% Li2O.
This sampling program is just the first step in an extensive exploration program ACM has planned for its critical metal portfolio, with the Company also planning to fire up the rig for a maiden drilling campaign of its Rankin Dome Rare Earth Element Project following the completion of Coolethas mapping and sampling.
The planned 40-hole campaign will target an eight square kilometre REE anomaly that has shown auger sampling grades up to 1080ppm total rare earth oxides, testing for ionic clays and bedrock-hosted REE models across the surface anomaly.
The Company said it is committed to advancing its exploration efforts and unlocking the potential of its projects.
“Following our successful IPO this month, focus has turned immediately to undertaking systematic exploration across our portfolio of projects. We are excited that our initial efforts as a listed company will be at the Cooletha Lithium Project in the Pilbara, a region that hosts a number of significant lithium mines and recent exploration successes,” Managing Director Dean de Largie said.
“With preparations completed for the three-week mapping and sampling program, we expect to significantly improve our data set and understanding of the underlying geological characteristics across our tenements. With results due later this quarter, this will enable us to plan our first drilling campaign at Cooletha later this year.”
ACM’s Australian Stock Exchange-listed share price is currently trading at 19.5c (12:19 pm UTC+ 8 hours).