Lithium anomalies identified at Marindi’s Forrestania project

Marindi Metals ASX MZN Forrestania lithium project

Lithium explorer Marindi Metals (ASX: MZN) has uncovered further pegmatite anomalies at its Forrestania project, near Kidman Resources’ (ASX: KDR) Earl Grey lithium discovery in Western Australia.

An ongoing major soil sampling program at the 600 square kilometre project has returned the results for 833 samples with further 435 sample assays anticipated later this month.

The assays have revealed pegmatite seven anomalies within the Mt Hope and South Ironcap prospects.

According to Marindi, the largest and strongest anomaly measures about 5km by 500m and remains open to the north and south.

However, no actual assay results were disclosed.

Marindi has its soil sampling crew scheduled to be back on site next week to complete the sampling program across its western tenements. Once that is complete, the crew will begin infill sampling, which the company anticipates will be substantial due to the “number and size of the soil anomalies outlined so far”.

In early December, Marindi announced a A$4.4 million placement to fund exploration across its gold, base metal and lithium projects in WA and the Northern Territory.

Marindi is actively exploring for zinc at its Newman project in the Pilbara and also owns the Bellary project where it recovered more than 60 gold pieces and nuggets from a single creek sampling site. The conglomerate-style nuggets ranged in size up to 6mm in size.

After the field trip uncovered the nuggets, Marindi elected to exercise its option to purchase the project from Bacome. At the end of November, Marindi payed Bacome A$400,000 and issued the vendor 80 million Marindi shares.

According to Marindi, the Newman zinc project also has conglomerate gold potential, which the company is actively reviewing in addition to its current exploration for zinc and base metals.

By late afternoon trade, Marindi’s share price was up more than 7% at A$0.015.

Filip has written in both Australia and abroad during his career, covering everything from the global economy, politics and geopolitical issues to commodities and small cap stocks on the ASX.