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Metal Hawk Reports New Lithium Targets at Yarmany

24 August 2023 10:22

Metal Hawk (ASX:MHK) has provided an update on its Yarmany Project, located 40km north-west of Coolgardie in WA, assigning new lithium pegmatite targets along the Ida Fault.

Yarmany Project

In July this year Metal Hawk signed an option to acquire the Yarmany Project which lies 282km2 across the Ida Fault, exposing the Company to key future facing lithium commodities and complementing its existing portfolio.

The exploration at Yarmany is primed to be be fast tracked following a successful capital raise of $1.2 million through a strongly supported placement, announced in July.

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Figure 1: Yarmany Project along the Ida Fault

Historic RC Drilling

Dimond drilling conducted in the 1970s on the Project reported thick pegmatites, reaching up to 49.7m downhole thickness, however these were never assayed.

Only limited nickel sulphide exploration has occurred at Yarmany since the 1970s, with the tenements receiving superficial assessment for pegmatite-hosted lithium-caesium-tantalum (LCT) mineralisation.

Metal Hawk has pinpointed the Reptile Dam Prospect at Yarmany’s northern end as a focal point, intending to examine both lithium and nickel sulphide mineralisation through testing.

Historical exploration from 1973 and 1974, involving four diamond drill holes totalling 643m, was conducted at the Reptile Dam Prospect to evaluate subsurface gossanous material, with this material interpreted as indicating possible mineralised ultramafic rock.

The Company has initiated the analysis and digitisation of this data, revealing the presence of numerous thick pegmatite units both within and neighbouring the targeted ultramafic rocks.

Notably, hole RD-DD1 was drilled to a depth of 246m and recorded intersections of ultramafic rocks with high MgO content, alongside several pegmatitic units. Among them, a significant interval of 47.7m of coarse-grained pegmatite from 122.6m to 172.4m was identified.

The Company has stated that none of this material underwent lithium detection assays, and the current whereabouts of the drill core are unknown.

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Figure 2: Reptile Dam nickel prospect showing historical diamond drilling over magnetics (TMI)

Metal Hawk is currently engaged in mapping, sampling pegmatites, and carrying out regional geochemical surveys. These efforts aim to identify elevated levels of lithium and other elements that signal the presence of lithium-caesium-tantalum (LCT) mineralisation.

Future Outlook

The Company hopes the geochemical surveys will aid in defining buried lithium-bearing pegmatite targets for drill testing.

Additionally, the recently identified pegmatite outcrops have undergone sampling and sent for laboratory assay.

In tandem to the lithium exploration activities at Yarmany, Metal Hawk has initiated nickel sulfide exploration on the Project, with airborne electromagnetic surveys due to commence shortly across the majority of the tenement.

Metal Hawk’s maiden drilling campaign at Yarmany is planned for the fourth quarter of 2023.

Commenting on the progress, Metal Hawk’s Managing Director, Will Belbin, expressed optimism about the developments.

“We have identified new walk-up lithium targets from historical diamond drilling which we’ll be testing with our first campaign of RC drilling at Yarmany. We are in the process of systematically mapping, sampling and prioritising drill targets for lithium and nickel sulphide mineralisation. The favourable lithologies present at Reptile Dam are very encouraging and warrant more drilling,” he commented.

MHK’s Australian Stock Exchange-listed share price has risen 18.18% and is currently trading at $0.13 (10.30am UTC+ 8 hours).

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