Premier1 Lithium strikes high-grade gold in maiden drilling campaign at Yalgoo

Premier1 Lithium (ASX: PLC) has recorded an impressive start to its maiden drilling program at the Yalgoo gold project in Western Australia.

The company tested extensions to known gold mineralisation at Olive Queen, Crescent and Carlisle, along with first-pass drilling at new target areas identified through recent geochemical sampling, drone magnetics and a comprehensive litho-structural study.

The program has now hit high-grade gold at multiple prospects.

Multiple intersections

Premier1 intersected 10 metres at 3.1 grams per tonne gold from 19m, including 7m at 4.3g/t gold at the Carlisle target.

At Crescent South, it drilled exceptional gold intercepts featuring 3m at 31.5g/t gold from 97m, including 1m at 91.9g/t gold.

It also identified a new mineralised system west of Olive Queen, where first-ever drilling in the area intersected 1m at 1.5g/t gold from 96m.

Best intercepts so far

“The drilling has delivered some of the highest-grade intercepts recorded on the project to date,” managing director Jason Froud said.

“The confirmation of high-grade gold at Carlisle […] highlights the untapped potential of historically overlooked areas, while the intercept […] at Crescent South demonstrates the potential for high-grade gold along trend from known mineralisation.”

Mr Froud said the new target area west of Olive Queen, along with associated pathfinder element anomalism, opens a new exploration front with strong structural and geochemical support for further discovery.

Integrated approach

According to Mr Froud, the results underscore the effectiveness of the company’s integrated exploration approach and support its belief that Wadgingarra has significant potential to host multiple gold-bearing structures.

“We look forward to building on this momentum with follow-up drilling and continued refinement of our geological models as we work towards defining a robust pipeline of targets for future resource development,” he said.

Premier1 is planning to test along strike and down-dip of the intersected mineralised zones, as well as the high-priority Mt Kersey and Central Block prospects targeting gold and base metals identified in a recent litho-structural study.

The company will apply the $180,000 grant it recently received from the WA government for co-funded drilling.