PEAK ASSET: ARVO WRAP 16 February: ASX rises as WiseTech surges; Rio Tinto, Fortescue drop | $A posts fourth straight weekly gain before jobs data | Askari Metals Intersects Polymetallic Mineralisation in Phase 1 Trenching at Uis Lithium Project |

Askari Metals Intersects Polymetallic Mineralisation in Phase 1 Trenching at Uis Lithium Project

Askari Metals (ASX: AS2) has intersected high-grade tin, tantalum, lithium, caesium and rubidium in trenching at the DP pegmatite target within the Uis project in Namibia.

The Phase 1 program collected 2,098 one-metre channel samples from 135 trenches for a total of 7,269 metres across 10 pegmatites to provide critical information of the surface extent and mineralisation potential of each target.

A total of 39 trenches were completed at DP for 749m and 325 samples, delivering peak values of 3,360 parts per million tin, 1.25% lithium oxide, 364ppm tantalum, 3,370ppm rubidium, and 587ppm caesium.

The results complement previous field work at DP that revealed high-grade mineralisation with values of up to 0.89% tin oxide, 635ppm tantalum pentoxide, and 0.29% rubidium oxide with proximal pegmatites returning higher grades up to 4.05% tin oxide, 1,121ppm tantalum pentoxide and 0.44% rubidium oxide.

Askari’s historic reverse circulation drilling in the area returned high-grade intercepts of 4m at 0.16% tin oxide including 1m at 0.26%; 4m at 314ppm tantalum pentoxide including 1m at 695ppm; and 2m at 0.30% rubidium oxide including 1m at 0.38%.

Strong Historical Returns

The DP target is located on EPL 7345, contiguous to the south-western boundary of Andrada Mining’s Uis tin mine that boasts a mineral resource estimate of 77.51 million tonnes at 0.79% lithium oxide, 0.15% tin and 82ppm tantalum.

Historical exploration across EPL 7345 returned very high grades of tin, tantalum, lithium, and rubidium mineralisation from surface mapping, rock chip sampling, and two phases of reverse circulation drilling.

“These results materially strengthen our confidence in the scale and quality of the mineralised system at Uis and provide a clear technical foundation for drill targeting,” executive director Gino D’Anna said.

“Given the growing importance of tin, lithium, caesium, rubidium, and tantalum in global supply chains, we believe this project has the potential to emerge as a strategically significant polymetallic asset.”

‘Corridor of Interest’

The key targets of OP, PS, DP, and K9 all sit within a “corridor of interest” and display typical characteristics of fertile lithium-caesium-tantalum pegmatites.

These characteristics include a high degree of fractionation and zonation, as well as key lithium accessory minerals including sugary and cleavelandite varieties of albite, colored tourmaline and green mica.

The targets have been delineated and explored in detail while newly-identified pegmatite zones have been mapped but remain untested to date.

“We expect a steady stream of assays over the next period from the Phase 1 trenching program and this, coupled with the stream sediment and soil geochemical program at EPL 7626, will allow us to fast-track exploration on these highly prospective pegmatite targets,” Mr D’Anna said.

“In an environment where the tin price is approaching US$50,000 per ton and has been as high as US$55,000 per ton, the company looks forward to updating our shareholders as our exploration activities continue.”

Source: SmallCaps