Strong soil assay results of up to 540ppm Li have helped Monger Gold Limited (ASX:MMG) defines new targets at its 78.1 sq. km Scotty Lithium project in Nevada, USA.
“These exceptional assay results from this maiden programme across areas never sampled before, discovered higher than anticipated lithium assays over larger and more connected areas than expected on our Scotty Lithium Project. The peak value over the Bonnie Claire Resource is 264ppm lithium, however on Monger Gold’s claims the peak value is more than double this at 540ppm lithium,” CEO, Mr Adam Ritchie, said.
“These results have greatly assisted in finalising our next steps and represent a key milestone in the advancement of the Scotty Lithium Project.”
Highlights
643 soils samples taken across the Scotty Lithium Project with:
o 177samples (~27%) recording greater than 200ppm Li
o 89 samples (~14%) recording greater than 264ppm Li, the maximum
recorded at the adjacent Bonnie Claire Lithium Deposit
• 3D modelling of the enclosed basin in conjunction with the soil results has produced five target zones
o Three sediment target zones – North, East, West
o Two twin targets (sediment and brine) – Upper South and Lower South
• Soil geochemistry was used effectively in the discovery and delineation of Iconic Minerals Limited’s adjoining Bonnie Claire Lithium Deposit, where Inferred Resources comprise 3.4Bt @ 1,013ppm Li for 18.3Mt of LCE1 resource from 9 drill holes2
o Equivalent to a Hard Rock deposit greater than 700 Mt @ 1% Li20
• Magnetotelluric (MT) surveys within each zone will now be commissioned to define the basin extent and optimise subsequent drilling programmes
For further information please visit: http://mongergold.com.au/
