Matsa Resources Limited (ASX: MAT) has discovered two new lithium provinces hosting widespread lithium bearing pegmatite outcrops and float at Kanchanaburi and Ratchaburi in western Thailand.
Highlights:
• Significant new lithium bearing pegmatites discovered in Kanchanaburi and Ratchaburi Provinces, central western Thailand
• LIBS analyser testing has confirmed 3.45% Li (7.4% Li2O) in lepidolite bearing pegmatites at Kanchanaburi. Assays from a Perth based commercial laboratory are awaited
• Extensive lithium has been mapped at:
o Kanchanaburi – identitified lepidolite and polylithionite
occurrences over a 6km strike by 1km wide area
o Ratchaburi-multiple polylithionite occurrences have been mapped over an approximate 2km strike by 500m wide area
• Matsa has acquired six new SPLAs (Special Prospecting Licence Applications) comprising 90sq. km which have been accepted by the Thailand government to capture the new lithium bearing pegmatites. The SPLAs are in close proximity to the railway line linking Thailand to China
• Four producers in the Jiangxi province, China, (referred to as the lithium capital of Asia) produce lithium carbonate exclusively from lepidolite: Yongxing Material, Jiangte Motor, Nanshi Lithium and Feiyu New Energy. Lepidolite and spodumene both produce lithium carbonate end products
• Select Special Prospecting Leases (SPLs) are being fast tracked for full grant to enable Matsa to conduct drilling operations and test for continuity, extent and depth of the identified lithium pegmatites
• These new projects build strongly on Matsa’s 2022 lepidolite discovery at Phang Nga where assays for samples are expected shortly
Extensive lithium bearing discoveries cover an area of approximately 6km strike by 1km wide at Kanchanaburi and 2km long by 0.5km wide at Ratchaburi. These discoveries build on Matsa’s recently announced lepidolite discovery in the Phang Nga province some 600km to the south.
Matsa is now arguably one of the larger holders of tenure, prospective for lithium in south-east Asia and with these new discoveries, Matsa has an impressive pipeline of lithium projects.
These discoveries are highly significant, in that it opens up new lithium provinces at Kanchanaburi and Ratchaburi where lithium bearing pegmatites have not previously been recorded, in contrast to the Phang Nga province, where the British Geological Survey mapped known lithium bearing pegmatites at Reung Kiet, Khata Tong and Bang I Tun in the 1970s.
The Kanchanaburi project comprising four SPLAs covering 62.5sq. km have been lodged and accepted by the Thailand government and is characterized by widespread occurrences of both coarse grained lepidolite and polylithionite pegmatitic outcrop and float.
In Ratchaburi, two SPLAs have been lodged and accepted by the Thailand government where Matsa has identified fine grained polylithionite bearing pegmatites.
The lithium mica polylithionite has been confirmed via XRD work by Thailand’s Department of Mineral Resources on Matsa samples.
Matsa’s SPLAs for lithium in Western Thailand now covers a total of 1,160sq. km
“What an excellent result, 6km of lithium bearing rocks in an unexplored region is an explorer’s dream. We believe we have discovered a new lithium province,” Executive Chairman, Paul Poli, said.
“The area has a huge scattering of coarse grained lepidolite and abundant polylithionite. We’ve only just started to scratch the surface here and with our discovery at Phang Nga, that makes three new discoveries in quick succession. We really don’t know at this point how big these discoveries could be.
“These are very exciting times for Matsa, lithium exploration in Thailand and our exploration team who are starting to reap rewards for their laborious but diligent work. It’s not every day that you can claim to discovering not one but three new significant lithium projects.
“We have a fantastic ground position in the western granite belt that is second to none and I’ll repeat what I’ve said before, Thailand will deliver. We can’t wait to start drilling.”
For further information please visit: https://www.matsa.com.au/
