iTech Minerals finds high-grade lithium in rock chips from Reynolds Range project
iTech Minerals (ASX: ITM) has discovered high-grade lithium at its Reynolds Range copper-gold project in the Northern Territory.
Multiple rock chip samples from the GMF pegmatite returned strong values of the critical mineral with the best lithium oxide results of 6.5%, 7.08%, 6.50%, 8.24%, 8.22% and 7.23%.
More than 60 kilometres of outcropping pegmatites have been interpreted on satellite imagery at Reynolds Range.
Preliminary identification
The pegmatite was sampled over an interpreted thickness of 90m and a mapped length of over 250m before disappearing under thin sandy cover to the north and south.
Preliminary identification has determined spodumene to be the lithium-bearing mineral.
The company is now awaiting confirmation by X-ray diffraction analysis.
Lithium province
Managing director Mike Schwarz said the latest results are believed to demonstrate the potential for the 70 sq km tenement package to be an unrecognised lithium province.
“From what we can determine, this is the first discovery of a lithium-bearing pegmatite in the Reynolds Range region,” he said.
“Given the abundant outcropping pegmatites across the tenement package, it may be a previously unrecognised lithium province.”
“Our team will be heading back into the field this week to sample a wider selection of pegmatites around this exciting new discovery.”
Mr Schwarz said it would take some time for the company to fully assess the project’s lithium potential.
Project licences
iTech is in the process of acquiring the three exploration licences that make up the Reynolds Range project.
Prodigy Gold (ASX: PRX) holds 100% equity in two of the licences and 80% in another, with the remaining 20% owned by private company Select Resources.
Reynolds Range covers 375 sq km of the Aileron Province, where Mr Schwarz and iTech director Gary Ferris visited in May to assess the potential for copper-gold mineralisation following a review of historical exploration data.
The trip aimed to field-check prospects identified by previous explorers, confirm the scale of the regional mineralising systems and sample outcropping mineralisation.