Exterra Resources announced grant of exploration license at Moolyella Lithium Project

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Moolyella Lithium Project Tenement Location Plan Image credit: Exterra Resources ASX release

Perth-based gold exploration and development company Exterra Resources has edged closer to commencing systematic on-ground exploration activities at the Moolyella Lithium Project in the Pilbara region of WA, with the grant of Exploration Licence E45/4462.

Moolyella Lithium Project Tenement Location Plan Image credit: Exterra Resources ASX release
Moolyella Lithium Project Tenement Location Plan
Image credit: Exterra Resources ASX release

The Moolyella Lithium Project, which is located just 23km ENE of Marble Bar, covers 86km2 and holds a substantial position in a highly mineralised lithium, stannum and tantalum district in the Pilbara.

Earlier this year, Exterra secured an option to acquire to purchase 90% interest in the project (E45/4462).

The company has commenced a review of the project which confirmed reconnaissance rock chip sampling during 2011/12 over an area of 2 km2 recorded the presence of highly anomalous lithium in a significant number of samples analysed.

Exterra also completed a field visit during March 2016 which confirmed the location of previous RC drill holes and the presence of drill cuttings containing pegmatite lithologies, which have not previously been assayed for lithium.

According to the company, drill cuttings will be reviewed and re-sampled where pegmatites are recorded and pegmatite locations mapped in preparation for drilling.

Managing Director John Davis said the results reported during the March field visit confirmed the potential of the Moolyella Lithium Project to host significant lithium bearing pegmatites.

“Now that Exploration Licence 45/4462 has been granted, we can focus on commencing systematic exploration activities on the ground, which is supported by the broad distribution of anomalous lithium mineralisation from previous first pass exploration,” he said.

“We can then determine the potential for significant lithium mineralisation in the Moolyella Li/Ta/Sn mineral field.”