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Pinnacle Minerals Advances Canadian Lithium Exploration

9 February 2024 09:48

Pinnacle Minerals (ASX:PIM) has received assay results from its latest exploration campaign, carried out in the tail end of 2023, announcing the identification of a fractionation trend at Adina East, laying the foundation for future targeted exploration programs.

Hard Exploration Program

The sampling program was carried out during the Canadian winter, creating a plethora of issues for Pinnacle as it worked through harsh conditions.

Despite this, the Company still identified a trend in K/Rb ratios at the Adina East Project, reducing the further north/northwest the sample is located.

Spodumene fields typically occur where the K/Rb ratio < 100 and Cs > 500ppm or Rubidium > 1000ppm.

One of the samples returned at Adina East, and three at Lac Rug were within the spodumene potential K/Rb ratio, with most samples demonstrating potential for rubidium and caesium.

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Table 1: Assay results for select pegmatite outcrop and boulders sampled at Adina East

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Table 2: Assay results for select pegmatite outcrop and boulders sampled at Lac Rug

Assay Results

Although the rock chip samples at both Project locations did not return lithium enrichment, Pinnacle is not deterred from ongoing exploration.

The Adina East key ‘fractionation ratios’ of K/Rb below 100 suggest the potential for a spodumene-bearing pegmatite to have been generated, trending northwest into the project’s metasedimentary rocks.

This development is particularly encouraging for the Company, as it shares the same geological setting as PIM’s neighbour, Loyal Lithium’s (ASX:LLI), Trieste discovery. Notably, the Trieste discovery has yielded significant drilling intercepts including up to 40.0 metres at 1.2% Li2O, located just 5 kilometres to the west.

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Figure 1: K/Rb Ratios – Adina East

The samples also returned significant rubidium enrichment up to 0.12%, obtained on some granites, demonstrating the intense magmatic fractionation at the Project.

This magmatic fractionation is often indicative and a precursor to lithium fractionation, and will enable Pinnacle to vector in on any highly fractionated pegmatites that would have the potential to host lithium-rich minerals including spodumene.

The Company plans to use this fractionation ratio data in conjunction with the other exploration techniques like LIDAR and Orthophotos to assist in a targeted field work program, set to commence in the second and third quarter’s of 2024.

Future Exploration

Pinnacle has initiated the engagement of consultants and contractors in anticipation of its northern summer field season at the Adina East Project, slated to commence in May or June.

The season will kick off with a comprehensive LIDAR survey covering the entire project area. These LIDAR readings will be pivotal for future exploration efforts, enabling the creation of a digital elevation model (DEM) through high-resolution orthophotos captured concurrently with the LIDAR data.

The DEM facilitates the identification of potential pegmatite outcrops, often appearing as conspicuous white elevated areas.

With the receipt of LIDAR imagery, prospecting at Adina East is scheduled to begin in the second and third quarters of 2024.

Although Pinnacle currently possesses a limited dataset, the forthcoming LIDAR acquisition will significantly aid in pinpointing targets for field follow-up.

Company Comments

Pinnacle Minerals Managing Director Nic Matich commented on the results.

“The Pinnacle team is excited for what 2024 brings,” he said.

“With numerous opportunities in several key commodities including Lithium, Uranium and Mineral Sands.”

“Whilst no lithium discovery was made in Canada during the first pass reconnaissance programs, it must be understood that the field team only scratched the surface for less than five days prior to the onset of the snow cover.”

“Pinnacle remains confident of its flagship Adina East Project and has begun formalising the 2024 field campaigns which aim to cover the entire claim package to maximise the likelihood of exploration success.”

“Field work is expected to start as soon as the snow cover is melted, likely in late May.”

PIM’s Australian Stock Exchange-listed share price is currently trading at $0.09 (9.45am UTC+ 8 hours).

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