Dark Horse bolts into lithium drilling at Las Tapias after securing permit
Energold Argentina SA diamond core drilling rig to be used at the Las Tapias lithium mine.
Dark Horse Resources (ASX: DHR) has secured a permit to kick-off drilling at its Las Tapias lithium mine in Argentina, with the two-to-three-month campaign due to start shortly.
With a positive outcome anticipated for several weeks, Dark Horse has already begun preparing the site for drilling including vehicle access and drill pad.
Dark Horse has awarded a minimum 3,000m drilling contract to Energold Argentina, which will comprise about 24 holes to maximum 150m depths.
Las Tapias mine
The first holes will test the lithium-rich spodumene zones found in the underground caves where two 30m sections have been taken and returned average lithium grades of 2.47% and 1.11% each.
These two 30m sections hosted continuous mineralisation and yielded several 2m high-grade intervals of 5.63% lithium, 5.74% lithium and 4.93% lithium.
According to Dark Horse drilling will explore this mineralising along strike and at depth to gain a better understanding of its width and grade.
Dark Horse managing director David Mason said he anticipated the drill cores would “mirror” the high-grade lithium found during the underground cave sampling.
“This rich zone will be followed along strike and down dip to define its volume and grade, moving the project towards a maiden JORC-compliant resource estimate,” he confirmed.
Dark Horse is earning up to a 100% of Las Tapias through its subsidiary Pampa Litio SA.
San Luis lithium projects
Las Tapias is part of the company’s Argentinian lithium asset portfolio with reconnaissance geological fieldwork focussing on the San Martin licence over the past four weeks.
Permits for more detailed exploration across the portfolio, including Sam Martin, have been submitted and remain pending for El Totoral, Novillo Negro and Leon Herido.
As part of its development strategy, Dark Horse is attempting to acquire a strategic partner to support and fund its work programs from resource definition though to operation.
The company is targeting global players in lithium production, battery, electric vehicle and electronic manufacturing sectors.
Dark Horse also noted it was on the hunt for new project deals.
By mid-afternoon trade, Dark Horse’s share price was down almost 5% to A$0.02, after the company enjoyed an early morning run which saw it rise almost 20% to its morning peak of A$0.023.