Monger Gold defines high-grade targets from soil assays at Scotty lithium project

Strong soil assay results of up to 540 parts per million lithium have defined a series of targets at Monger Gold’s (ASX: MMG) Scotty lithium project in Nevada, United States.

A total 643 auger samples taken across the project along with 3D modelling have demonstrated that each target has “standalone exploration potential”.

Approximately 177 samples (or 27% of the total) recorded lithium concentrations greater than 200ppm, while 89 samples (14%) recorded greater than 264ppm lithium, which is the maximum grade at the adjacent Bonnie Claire lithium deposit owned by Canadian company Iconic Minerals.

The inferred resource at Bonnie Claire comprises 3.4 billion tonnes at 1,013ppm lithium for 18.3 million tonnes of lithium carbonate equivalent from nine drill holes.

This equates to a hard rock deposit greater than 700Mt at 1% lithium oxide.

Exceptional results

Monger chief executive officer Adam Ritchie said the results are considered to be “exceptional” for the project.

“The results from this maiden program come from areas never sampled before,” he said.

“We have discovered higher than anticipated lithium assays over larger and more connected areas than expected with peak values of more than double that of the Bonnie Claire resource.”

Target zones

Monger said modelling of the enclosed basin in conjunction with the soil results defined five new target zones — three sediment zones at the north, east and west project areas and twin sediment and brine targets in the upper and lower south areas.

Target 1 is at the north of the project area and is considered to be a primary sediment target with assumed depth and mineralogy like Bonnie Claire.

Over 5.4 square kilometres have graded more than 164ppm lithium with the highest value in the northwest at 540ppm lithium.

Target 2 covers more than 10sq km in the mid-west of the project and showed grades of more than 165ppm lithium with a peak value of 448ppm.

This is more than 40% higher than maximum soils value found at the Bonnie Claire resource surface which occurs over an approximate 16sq km area at depth.

The lithium grades follow the lake surface and it is believed that recent alluvial fan material may have concealed finer-grained evaporites and clays beneath which contain lithium.

Target 3 is located to the east over an area of more than 2sq km grading more than 165ppm lithium with a highest value of 421ppm, while Target 4 is in the upper south grading more than 165ppm lithium and a highest value of 364ppm.

Target 5 contains the lowest lithium on surface however a distinct soil anomaly across alluvial fan sediments is believed to be concealing higher-grade lithium in evaporites and clays.

Monger said gravity and magnetotelluric data suggest the basin is deeper than originally thought and may contain substantial host sediments and brine at depth.