Widgie Nickel Ltd (ASX: WIN) has discovered a new lithium prospect, named Trainline, as well as the definition of additional lithium mineralization at depth at its Faraday lithium prospect at its Mt Edward Project.
The Faraday-Trainline Lithium Project area is located on mining lease M15/102, 4km from the town of Widgiemooltha. Faraday and Trainline are central to Widgie’s Mt Edwards Project, covering a significant land holding within the “Lithium Corridor” between Mt Marion and Pioneer Dome.
“Widgie’s lithium endowment shows it has exceptional growth potential with wide spaced intercepts at Trainline showing excellent promise in addition to the expanding Faraday deposit,” Widgie Nickel managing director, Steve Norregaard, said.
“Our next steps will be to infill Trainline and the Faraday down dip extensions. Ongoing evaluation of offtake partnership options is nearing a logical conclusion, with interest levels high. The Faraday-Trainline Lithium Project has all the hallmarks of a very low-cost development able to be commercialized in the very near term.”
Drill results indicate a strong potential to increase current lithium resources at the Mt Edwards Project and analysis reports spodumene as the exclusive lithium bearing mineral identified from the samples taken.
Highlights include:
Trainline Discovery
- 23MERC118 2m @0.86% Li2O from 4m and 9m @0.82% Li2O from 17m incl. 4m @1.19% Li2O from 22m
- 23MERC114 10m @0.68% Li2O from 43m incl. 7m @0.79% Li2O from 43m
- 23MERC113 7m @0.61% Li2O from 30m incl. 3m @0.94% Li2O from 30m
Faraday Extension
- 23MERC129 1m @0.89% Li2O from 23m and 3m @0.63% Li2O from 92m
- 23MERC131 3m @0.63% Li2O from 99m incl. 1m @1.20% Li2O from 100m and 4m @0.47% Li2O from 105m
- 23MERC132 2m @0.55% Li2O from 130m and 5m @0.69% Li2O from 137m incl. 3m @0.87% Li2O from 137m
The mineralization is hosted within Lithium-Caesium-Tantalum (LCT) pegmatites associated with fractionated late-stage granitic intrusions. The stacked pegmatites veins have intruded the steeply dipping mafic/ultramafic country rock dipping shallowly and are found to be outcropping in places.
Further work and infill drilling is required to understand the mineralization of the LCT pegmatite at Trainline. Additional infill drilling down dip at Faraday is required to expand the boundaries of mineralization and inform an updated MRE.
For further information, please visit: www.widgienickel.com.au
