Premier1 Lithium Releases Robust Maiden MRE for Yalgoo’s Wadgingarra Gold Prospect

Premier1 Lithium (ASX: PLC) is considering various fast-track development options for the Wadgingarra asset at its Yalgoo gold project in Western Australia after unveiling a robust maiden mineral resource estimate (MRE).

Recent drilling success and new studies have confirmed Wadgingarra’s potential and led to the release of a MRE total of 150,000 tonnes at 2.7 grams per tonne for 13,000 ounces of gold.

Premier1 is confident it has only scratched the surface at Wadgingarra, with the MRE constrained within an optimised pit shell work so far limited to shallow drilling.

Commercialisation Review

The company is now reviewing various options for commercialisation of the mineral resource, and has commenced mining lease preparation for additional drilling to confirm historic datasets and test extensions at depth and along strike.

At the same time, it is progressing metallurgical test work to refine commercial opportunities and toll treatment potential.

Premier1 announced the results of its first drilling program at Yalgoo in May, which comprised 27 reverse circulation holes for a total of 3,126 metres across the broader Wadgingarra area targeting structural extensions to the known gold mineralisation at the Olive Queen, Crescent and Carlisle Prospects as well as new exploration areas at Crescent East and west of Olive Queen.

This program delivered some of the highest-grade gold intercepts on the project to date, including 7m at 4.3g/t and 3m at 31.5g/t in the Crescent South zone.

Services Partnership Potential

Premier1 is also advancing a services partnership study to strengthen and fast-track the commercial pathway for Wadgingarra .

The company says a services partnership may provide access to mining and processing expertise, while creating a framework for evaluating development options through low-capex toll treatment scenarios.

The current and future work is supported by a $180,000 WA Government grant, which will partly fund drilling to test additional high-priority targets at the Yalgoo project including the highly prospective Mt Kersey prospect.

“Progressing a services partnership also allows us to focus more of our efforts on further exploration at Abbotts North and elsewhere at Yalgoo, where the upside remains significant,” Mr Froud said.

Significant Exploration Upside

Mr Froud said the maiden MRE results highlight the strong potential for expansion at depth and along strike as drilling progresses.

“The Wadgingarra resource […] gives us great confidence in the growth potential and represents the first commercial opportunity within the company’s portfolio,” he said.

“The outcome confirms the presence of a genuine open pit gold resource at favourable grades providing a tangible foundation for near-term development.

“With historical drilling averaging only 46m depth over a limited area, the upside for expansion through further exploration is clear.”