Tambourah Metals welcomes SQM’s commencement of drilling at Mogumber

Tambourah Metals (ASX: TMB) has welcomed news that farm-in partner SQM has commenced drilling for lithium at the Mogumber project in Western Australia.

In early July 2023, SQM Australia – a wholly-owned subsidiary of global lithium giant Sociedad Química y Minera de Chile – signed a farm-in agreement with Tambourah to earn an initial 50% interest in the Julimar Nth project, which includes Mogumber.

The agreement provides SQM with the right to earn-in up to a maximum of 70% across six of Tambourah’s Julimar Nth projects by sole funding a minimum of $1.5 million and up to $3m of exploration and development activities.

Historical anomaly

Tambourah, which received an initial $350,000 from SQM for previous expenditure, has completed gravity, electromagnetic and magnetotelluric surveys at Julimar Nth since listing in August 2021.

SQM is now testing a historical geochemical anomaly identified from auger sampling.

While the geological interpretation is all granite, Tambourah says regional aerial magnetics and geochemical assessment of the auger samples suggest that several structural corridors exist plus indications that mafic-ultramafic stratigraphy might exist under cover.

Tambourah believes this provides the joint venture (JV) with an encouraging conceptual target.

“We are pleased to have this drill program commence with our strategic partner SQM in the Julimar Nth region,” executive chair Rita Brooks said.

“SQM’s technical expertise in lithium exploration will provide new knowledge of untested pegmatites within the region.”

SQM is one of the world’s leading lithium producers with its main assets in Australia being a 50% JV interest in the Mt Holland Lithium Project, as well as other lithium-related investments and early-stage exploration activities.

Lithium-focused program

The agreement with SQM is part of Tambourah’s rapidly-expanding lithium exploration and development strategy in WA, where it has seven lithium projects in the Pilbara region.

The company has been particularly active in this space in recent months, with highly-anomalous lithium identified in assay results from Tambourah North, Shaw River and Haystack Well.

Field sampling completed in February comprised 142 samples that have extended exploration coverage over areas where Tambourah’s mapping had previously identified numerous pegmatites associated with historic alluvial workings for tin and tantalum.

At Haystack Well, individual assays reported up to 1% lithium oxide.

Samples from Shaw River reported up to 0.48% lithium oxide and samples from Tambourah North reported up to 0.19% lithium oxide.