Greenpower Energy discovers further high-grade lithium at Morabisi

Greenpower Energy ASX GPP lithium Morabisi Guyana trench
Trench 4 at Greenpower Energy's Morabisi project in Guyana.

Greenpower Energy (ASX: GPP) has uncovered more high-grade lithium oxide at its Morabisi lithium-tantalum-rare earths project in the South American country of Guyana.

More than 1000 grab samples were taken from the Turesi Ridge, Robello and Heavy Creek prospects during a second exploration program at the project.

The company reported today that the majority of the Turesi Ridge grab samples had been received, with just 36 samples remaining for analysis at MS Analytical in Vancouver, Canada.

Assay results had returned values as high as 2.21% lithium oxide, Greenpower stated.

In addition, more than 70 samples from a lithium-rich zone at the Turesi Ridge prospect returned values of 1% lithium oxide or greater.

Greenpower Energy also confirmed the presence of a lithium-rich pegmatite zone with consistent grades over 500m which remains open to the east.

The company stated further work would include trenching to more accurately determine the pegmatite orientation.

Greenpower Energy also said there was sufficient data from the current exploration phase to plan a drilling campaign.

In October, the company announced grab samples taken from the Turesi Ridge prospect grading up to 2.63% lithium oxide. At the time, Greenpower Energy executive chairman Gerard King had likened the Morabisi project to Pilbara Minerals’ Pilgangoora lithium project in Western Australia, which is due for commissioning in early 2018.

The company provided another update in December, upon the completion of its second exploration phase, with samples returning with up to 2.03% lithium.

The Morabisi project covers 3848 square kilometres in a mining district of Guyana, about 150km southwest of the capital city of Georgetown. Guyana is the only official English-speaking country in South America and is renowned as a mining-friendly jurisdiction.

Greenpower Energy holds a 74% stake in the Morabisi project with private Canadian company Guyana Strategic Metals holding the remaining interest in the joint venture.

Shares in Greenpower Energy were up 11.8% on the news by early afternoon trade.

Danica has extensive experience writing and editing business news in the Oceanic and Southeast Asian regions. She has written across a range of industries including oil and gas, mining, energy, science and research, retail and travel. Danica has covered small and large cap companies listed on the Australian, Singapore, Hong Kong, Indian, London and Toronto exchanges.