TG Metals Announces Lithium Pegmatite Find at Jaegermeister
- 09-Aug-2024 9:26 PM
- Journalist: Li Hua
TG Metals (ASX:TG6) has made a notable lithium pegmatite discovery at the Jaegermeister prospect, part of the Lake Johnston Lithium-Nickel-Gold Project in Western Australia. The company completed a reverse circulation drilling program, drilling 19 holes over a total of 3,472 meters. Most of the assay results have been received, revealing multiple intersections of spodumene-bearing pegmatites with lithium oxide grades reaching up to 2.68% and widths up to 10 meters.
The drilling also tested key lithium soil targets. Both targets A and B were found to contain lithium pegmatites, with thicknesses up to 10 meters. These findings suggest a larger pegmatite system than previously identified, extending in all directions and notably thickening towards the west. This is particularly significant as the results show potential for a pegmatite system comparable in size to the nearby Burmeister prospect.
TG Metals, with a market capitalization of $9.95 million, sees these results as a strong indicator of substantial lithium mineralization within Lake Johnston. CEO David Selfe highlights that the discovery of multiple lithium pegmatites at relatively shallow depths, with characteristics similar to those at the Burmeister deposit, reinforces the project's potential for developing a standalone spodumene lithium project. He notes, "These pegmatites appear to be thickening towards the west, an area that will be a priority target for the next round of drilling."
Drilling operations have been paused due to adverse weather conditions but are expected to resume at Burmeister when conditions improve. In the spring, TG Metals plans to carry out flora and fauna surveys at Burmeister and surrounding areas to advance resource development.
The upcoming drilling program will focus on exploring the down-dip and westerly extensions of the pegmatites, as well as northern extensions and linking the intercepts between targets A and B into a continuous, over 1,500-meter-wide zone. Concurrently, metallurgical testwork is progressing on previously drilled core from Burmeister, with initial results expected next month. At the Tay prospect, regional reconnaissance exploration will commence once weather conditions permit. As a junior mineral explorer, TG Metals continues to focus on uncovering lithium, nickel, and gold resources in Western Australia.
TG Metals, an ASX-listed company, is dedicated to exploring lithium, nickel, and gold at its wholly owned Lake Johnston Project in Western Australia, a stable mining jurisdiction. The Lake Johnston Project includes the high-grade Burmeister lithium deposit, the Jaegermeister lithium pegmatites, and several other nearby lithium prospects. Notably, Burmeister is situated near four lithium processing plants and several undeveloped deposits.