Lithium Australia hits Lithium one week after taking over Lake Johnston project
Lithium Australia’s new Lake Johnston project, 450km east of Perth, is already living up to expectations, with rock chip samples from reconnaissance exploration assaying almost 4% Lithium.
The ASX-listed lithium explorer and developer of disruptive processing technology swooped on Lake Johnston just a week ago by completing a mineral rights swap with newly listed Lefroy Exploration.
Lithium Australia already held one permit in the project area, but picked up two large adjacent permits under the deal with Lefroy. The dramatically expanded project area is just to the east of Kidman’s headline-grabbing Earl Grey project and adjacent to lithium-bearing pegmatites that were recently discovered by Poseidon Nickel.
Lithium Australia have wasted no time scoping out their new ground and reported some exceptional assay results from rock chip samples this week.
The best result from the Whitten Boundary prospect assayed at a remarkable 3.94% Lithium. Samples from the Whitten prospect included assays of 3.84%, 3.62% and 3.34%, whilst the Floyd and Bulldog prospects produced best results of 3.03% and 2.8% Lithium.
The Lake Johnston pegmatites are typically rich in lepidolite, but also contain a number of other lithium minerals, including zinnwaldite and high levels of caesium.
Lithium Australia’s CEO, Adrian Griffin, said “Lake Johnston has the right geological environment to produce abundant lithium pegmatites - it has large, fertile granites, adjacent to country rocks that have the most prospective physical characteristics for pegmatite emplacement. It is not surprising that our initial examination has revealed very prospective lithium pegmatites.”
The savvy rights swap that brought Lithium Australia into the Lake Johnston project is just the latest in a series of deals that have unearthed some hot lithium exploration properties for the company and its shareholders.
These include the Sonora project in Mexico, adjacent to ground that has already signed up Tesla in a world-class offtake deal and a portfolio of exciting properties in Canada that have been vended into the upcoming ASX IPO of MetalsTech.