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NickelSearch close in on Carlingup lithium

13 March 2024 13:44

NickelSearch (ASX:NIS) has made a major step towards firing up the rig at its Carlingup Lithium Project in Ravensthorpe Western Australia, with the explorer having secured Land Access Agreements (LAA) which allows it to move forward with drill permitting activities.

Securing Lithium Land

Having secured the land agreements with a private landholder and two occupiers, the company is now able to submit an application to the Department of Mines, Industry Regulation and Safety to undertake the Project’s maiden drilling campaign.

Land covered by the LAA includes eight of the Project’s identified Lithium-Caesium-Tantalum pegmatite targets, with the Project now hosting a total of fourteen targets following the identification of several new targets via an extensive field campaign.

While Carlingup has potential to host nickel sulphides, the upcoming drill campaign will focus on its lithium pegmatite potential, targeting a number of identified LCT pegmatites across the 108 square kilometre Project.

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Figure 1: Plan showing the eight drill targets identified to date in the wider Quarry area. Assay results are from three previous announcements of soil assay results.

Particular focus will be placed on Project’s Quarry prospect, which has shown the potential to host a large-scale LCT pegmatite system with rockchip samples grading over 5 per cent Li2O collected in the Quarry’s proximity.

Located in Western Australia’s “Battery Belt”, Carlingup sits within a known “Goldilocks Zone” for LCT pegmatite formation, with the Project neighbouring several promising lithium projects including Allkem’s Mt Cattlin Lithium Mining Complex which lies just 10km south-west of Carlinup and boasts a annual lithium production of 131kt alongside a 12.1Mt at 1.3% Li2O mineral resource estimate.

Looking Ahead

Currently, the explorer is working to submit the LAA for approval and will then begin on a Program of Work for the upcoming drill campaign, finalising plans to test the eight lithium targets covered by the LAA.

Additionally, the company is also working to accelerate preparations for a drill campaign for targets located outside of the private land covered by the LAA where the NIS already holds an approved Program of Work.

The company is hoping to expand its already significant target base further, saying that follow up geological mapping, rock chip sampling and soil sampling is underway at the Project to test 30 areas of interest which hold the potential for further mineralisation.

“We are pleased to have reached an agreement with the private landholder and occupiers that will allow us to submit our application with DMIRS for our first drill program to test the high-priority LCT anomalies,” Managing Director Nicole Duncan said.

“Our team has completed highly encouraging geological mapping, rock-chip sampling and soil sampling that suggest the possibility of a large LCT system, 10km along the highway from the operating Mt Cattlin lithium mine.”

NIS’s Australian Securities Exchange-listed share price has risen 19.23 per cent today and is currently trading at $0.031 (12:00 pm UTC+ 8 hours).

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