NickelSearch Uncovers Broad Lithium Anomaly at Carlingup Project
NIS (NIS) Share Update August 2024 Thursday 1st
NickelSearch Identifies Significant Lithium Anomaly at Carlingup Project
NickelSearch Limited (ASX: NIS) has announced promising results from its regional Ultrafine Fraction soil sampling program at the Carlingup Project, highlighting a significant lithium-caesium-tantalum anomaly.
Instant Summary:
- New broad-scale lithium, caesium, and tantalum anomaly identified.
- Anomaly covers an area of approximately 4 km x 1 km.
- Peak lithium values of 190ppm Li (409 ppm Li2O) detected.
- Seven of the top ten highest lithium values at Carlingup found within this anomaly.
- Anomaly coincides with key pathfinder element gallium.
Discovery of the Anomaly
NickelSearch Limited's regional Ultrafine Fraction (UFF) soil sampling program has identified a significant new broad-scale lithium-caesium-tantalum (LCT) anomaly at its Carlingup Project, located in the Ravensthorpe district of Western Australia. The anomaly spans approximately 4 km by 1 km and exhibits peak lithium values of 190ppm Li (409 ppm Li2O).
This newly discovered anomaly is both larger and of higher amplitude than the previously defined anomaly at Quarry North. Of all the UFF soil samples collected at Carlingup to date, seven of the top ten highest lithium values occur within this anomaly, with lithium results greater than 115 ppm (247 ppm Li2O).
Methodology and Context
The UFF method provides a high-quality multi-element geochemical dataset applicable to lithium, base metals, and gold exploration. The sampling program aimed to explore areas with no previous lithium-focused exploration and to provide greater resolution of previously identified anomalies. Approximately 20 km of granite-greenstone contact remains unexplored for LCT mineralisation, all within a short distance from the Mt Cattlin Mine.
The regional reconnaissance soil sampling was completed on a nominal 200m x 400m grid, identifying features on a regional scale most warranting follow-up. The 4 km x 1 km anomaly can be divided into two discrete zones, with the western zone providing the most continuous and compelling results.
Next Steps
NickelSearch plans further infill sampling and mapping to place the new anomalies in context and provide greater definition to a drill design and targeted permitting survey process. The company is in advanced discussions with Landscape Ecologists to complete the DEMIRS requested flora survey during the coming spring months, which will include the area identified in this release.
The discovery of a significant lithium anomaly at Carlingup is a positive development for NickelSearch. This could lead to increased investor interest and a potential rise in the company's stock price as the market reacts to the potential for substantial lithium resources. The proximity to the Mt Cattlin Mine further enhances the strategic value of this find.
Investor Reaction:
Analysts are likely to view this discovery favorably, given the growing demand for lithium in battery production. The identification of such a large and high-amplitude anomaly could position NickelSearch as a key player in the lithium market, attracting both investor interest and potential strategic partnerships.
Conclusion:
Investors should keep an eye on NickelSearch's upcoming exploration activities and the results of further sampling and mapping. The company's strategic approach to exploring and developing this anomaly will be crucial in realizing its full potential. Stay informed on NickelSearch's progress and consider the long-term implications of this discovery for your investment portfolio.