Ragusa Minerals Limited (ASX: RAS) has that it has successfully applied for three tenements prospective for lithium in the Northern Territory, Australia.
Known as the Litchfield Lithium Project (Exploration Licence application’s 33149 and 33150) and the Daly River Lithium Project (Exploration Licence application 33148), the tenements have been officially recorded by the Northern Territory Mineral Titles office.
The company identified the highly prospective project areas, with proven hard rock lithium deposits, within the Litchfield Pegmatite Belt in Northern Territory – host to discoveries including the neighbouring Core Lithium Finnis Project, Lithium Plus, Charger Metals and others.
The strategic Litchfield and Daly River project areas were selected as prospective for lithium from historical geological mapping works and the interpreted continuation of the geological rock-types found in the neighbouring lithium projects, indicating a high level of lithium prospectivity throughout the region.
Lithium bearing pegmatites within the Litchfield Pegmatite Belt are found within the Burrell Creek Formation (part of the Finnis River Group), adjacent to and within the contact aureole of late Proterozoic granites as the source of the LCT (Li- Cs-Ta) pegmatites in the area.
Lithological units found within the company’s new project areas all contain predominantly Burrell Creek Formation sediments adjacent to Late Proterozoic undifferentiated granites, providing the appropriate geological setting to contain LCT pegmatites.
The company’s new projects are located within this lithium exploration province, which broadly meets all the exploration criteria used in other word-class lithium provinces.
Ragusa Chairperson, Jerko Zuvela, said the company’s two new lithium projects are a significant opportunity for Ragusa to utilise its exploration and development experience to rapidly progress both projects, given their prime positions adjacent to major lithium projects in a Tier 1 jurisdiction.
“Planning works have commenced to identify prospective lithium targets from historical data. We look forward to advancing and further developing our project areas at a time of record lithium prices, and within a proven high-quality lithium area.”
Mr Zuvela said the company intends to conduct immediate initial reconnaissance exploration works to target outcropping pegmatite rocks, with this phase of works being used to develop a more detailed lithium exploration programme (subject to initial results).
For further information please visit: https://www.ragusaminerals.com.au/
