The JV between Everest Metals and Stelar Metals has wasted no time in declaring the duo’s Trident Project has potential to host economic quantities of Greenbushes-style lithium.
Stelar has commenced discussions with stakeholders and is planning field mapping and surface sampling within weeks. The company is researching geophysical techniques to identify those that can potentially map the size, shape and location of pegmatites at depth to optimise lithium drill targets.
The explorer plans to conduct an initial shallow drilling program in mid-2023 to confirm pegmatite orientation, mineralogy and lithium distribution. The results will feed into planning for a more comprehensive deeper drilling program with a view to evaluating resource potential.
Stelar has identified the pegmatites at its Everest Metals joint venture ground at Broken Hill as being lithium-caesium-tantalum, or “LCT” type. Hard-rock lithium deposits mined from LCT-type pegmatites include the world-class Greenbushes mine in WA and contribute more than half of the world’s lithium production.
The area is no stranger to tin mining where the mineral has been produced for more than a hundred years. When operating, tin mines produced cassiterite, tantalite-columbite and lithium-bearing minerals such as the lithium phosphate amblygonite, the lithium mica lepidolite and lithium mineral spodumene from pegmatites. Pegmatite was mined for small quantities of amblygonite ore at the Trident mine in the 1950’s. Stelar has immediately focused on Trident as being a walk-up drill target despite the fact there has been no previous drilling into the LCT pegmatites at the project.
The Trident lithium project extends over the Euriowie tin field with 15km of strike and more than 250 known mineral occurrences according to NSW Geological Survey records. Stelar says there are numerous pegmatite swarms recorded with visible lithium minerals in outcrop.
Earlier this month, Everest Metals signed a binding joint venture agreement with Stelar Metals covering all its large Broken Hill NSW projects. The deal gave Stelar a 90 per cent interest in the Trident, Midas and Perseus projects at Broken Hill covering over 750sq km of tenements. Everest retains a 10 per cent free-carried interest until the delivery of a feasibility study and decision to mine.
With its 10 per cent free carried interest Everest Metals can cheer from the sidelines whilst Stelar Metals goes hammer and tongs looking for the next big lithium find in NSW. Whilst Everest is focusing on its core gold and lithium projects it will be hoping Stelar can unlock value via some drilling success at Broken Hill.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
