FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Ragnar Ready to Commence Swedish Lithium Exploration

9 August 2023 12:59
ASX: RAG
Ragnar Swedish Lithium

Ragnar Metals (ASX: RAG) is primed to kick off an extensive exploration program across its recently acquired lithium portfolio in Sweden, with the Company targeting potential lithium in a number of outcropping pegmatites across the Hälleberget and Bergon Projects.

Hälleberget

At Hälleberget, work will follow up on an initial field visit which confirmed the 21 square kilometre project hosts muscovite-rich pegmatites that are variably tourmaline-bearing with trace amounts, with prominent pegmatite outcrops extending for at least 400 metres and being up to 30m in thickness.

null

Figure 1: Photograph muscovite-rich pegmatite at Hälleberget with 5% tourmaline (T)

Identification of widespread tourmaline, beryl and muscovite is significant as these minerals are typically trace mineral assemblage for Lithium-Caesium-Tantalum (LCT) bearing pegmatites, with later XRF readings of the pegmatites showing elevated grades of LCT-pegmatite pathfinder metals such as tin, niobium and tantalum giving further indication of highly fractionated and fertile LCT pegmatites.

Planned work at Hälleberget will comprise extensive sampling undertaken by experienced geologists from GeoVista and Axray Scientific over the known pegmatites, with the Company also lodging new applications to expand Hälleberget to 52 square kilometres following the identification of an additional 27 unsampled pegmatites to the Project’s south.

Bergom

Work at Bergon will be very similar to that at Hälleberget, with the Project also being confirmed to host tourmaline and beryl-bearing pegmatites which were indicated by XRF readings to potentially be fractionated and fertile LCT pegmatites.

null

Figure 2: Photograph of tourmaline-bearing muscovite-rich pegmatite at Bergom

Geologists from Geovista will conduct sampling work at Bergon and the Company is working to expand the Project’s tenue but far more significantly than at Hälleberget, with Ragnar having lodged applications to grow the Project from its current 25 square kilometre tenue to a considerable 75 square kilometres.

Ragnar’s move to expand Bergon is similar to its reasoning at Hälleberget, with the Company having uncovered an additional 20 outcropping pegmatite bodies that have yet to be sampled.

Looking Ahead

The commencement of exploration at the two lithium projects represents a major milestone for the Company following its shift in focus from sulphides to lithium and REEs following the sale of its flagship Tullsta Nickel Project to Australian mining giant BHP for $9.8 million and the acquisition of Bergon, Hälleberget and their sibling REE projects Olserum North and Gruvhagen.

Exploration has already commenced at the REE holdings, with the Company uncovering potentially 1.1km of heavy rare earth element mineralisation strike at Olserum North following the return of rock-chips grading up to 11,991 ppm total rare earth oxides.

The Company said it expects sampling at Hälleberget to commence on the 14th of August and at Bergon one week later on the 21st of August.

“After completing our rights issue and placement of the shortfall, we are now funded and excited to commence our extensive sampling programs across two highly prospective lithium projects in Sweden. Previous assays and recent fieldwork confirm the extensive potential for spodumene-bearing pegmatites across our extensive ground position,” Executive Director Eddie King said.

RAG’s Australian Stock Exchange-listed share price is currently selling at 2.1c (12:49 pm UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!

Share This