Kidman Resources announced that it has completed resource drilling at the Earl Grey lithium-bearing pegmatite within its Mt Holland project.
Kidman said the completion of the resource drilling program places the company on track to publish a maiden JORC Resources estimate in December.
“Kidman has outlined mineralisation at Earl Grey over an area measuring 1.4km by 750m with an estimated average thickness of 70-80. The pegmatite outcrops at the southern end and is a relatively flat structure,” the company told the ASX.
“Earl Grey, which is part of the Mt Holland project near Southern Cross, also remains open in several directions and drilling continues with the aim of expanding its known parameters beyond the initial Resource estimate.”
In parallel with the Resource estimate, Kidman is also updating the environmental, metallurgical and mining studies at Mt Holland.
The company is also preparing to drill the extensive Prince of Wales pegmatite at Mt Holland, which sits on the same geological structure as Earl Grey and is located just 4km away. According to Kidman, this pegmatite has been outlined by historical drilling over an area measuring 2.2km by 340m.
“The pegmatite has been intersected within 5km from surface,” reads the company’s statement.
“However, this drilling was part of a gold exploration program and therefore no lithium assays were conducted.”
Kidman said applications are also being prepared for drilling at the very large Texas pegmatite at Mt Holland, which has been outlined by historical drilling over a 6.3km strike length. As with the Prince of Wales pegmatite, no lithium assays were conducted for the Texas pegmatite.
Kidman Managing Director Martin Donohue said the results from Earl Gray and the outstanding potential of the other known pegmatites meant the Company was now well on track to achieving its goal of being a major, low-cost lithium producer.
“The scale, the grades, the shallow nature of the pegmatites and the fact that they sit of an existing Mining Lease all support our strategy to rapidly develop a low-cost operation,” Mr Donohue added.
“With the JORC Resource now being estimated, we can advance on several fronts at the same time. This approach will combine further exploration drilling at Earl Gray and Prince of Wales, various development studies and other work aimed at accelerating the production timetable.”
