Octava eyes drilling after WA pegmatite discovery

Newly listed explorer Octava Minerals has outlined a suite of new pegmatite targets at its Pinnacle Well lithium prospect in the Pilbara region of WA after a field reconnaissance program.

The campaign was headlined by the detection of a 1.5km long east-west running outcrop about 10km north of Global Lithium Resource’s 10.5 million tonne Archer deposit.

The company says its Pilbara battery metals hunt is centred around its discovery of a rare class of assets known as lithium–cesium-tantalum or “LCT” type pegmatites.

LCT pegmatites are renowned for their high concentrations of lithium and represent a similar class of assets that make up Global Lithium’s nearby deposit.

Outside of the banner discovery the program light up a handful of additional pegmatite outcrops including a northwest striking system with visible lithium mineralisation. Notably, management says the northwest striking outcrop appears to be part of a larger structural feature at Pinnacle, which forms part of its bigger Talga project.

Octava completed mapping and rock sampling across the target areas and says it has since outlined a wider zone for more detailed exploration work.  The company considers the outcrops extremely prospective for lithium mineralisation and is now looking to wheel in the drill rig pending a series of mandatory regulatory hurdles.

According to the company, its wider Talga tenure has yet to be probed for lithium mineralisation – a trait it plans to remedy after recently nailing down a heritage survey at Pinnacle Well.

Octava’s Managing Director Bevan Wakelam said:, “Getting the Octava team on the ground conducting field reconnaissance over the priority lithium targets identified continues the systematic approach we are taking to the large Talga project holding. We were pleased to observe the sizeable pegmatite at Pinnacle Well, but also the multiple NW striking pegmatites nearby that appear to be part of much larger structural features at Talga.”

The Pilbara was once exclusively celebrated for its iron ore mineralisation but in recent years has become a hub of activity for players in the battery metals space.

The rise and rise of the region’s battery metals potential is perhaps best illustrated by two of the world’s most notable hard rock lithium plays; Pilbara Minerals’ Pilgangoora asset and Mineral Resources’ Wodgina deposit which sits about 120km West of Talga.

Pilgangoora claims a total resource of 309 million tonnes at a grade of 1.4 per cent lithium oxide whilst Wodgina offers an inventory of more than 250 million tonnes.

According to the US Geological Survey, Australia is at the top of the leaderboard when it comes to lithium production followed by South America and China.

Notably, Geoscience Australia says roughly 95 per cent of Australia’s lithium resources are held within five WA-based deposits.

Talison Lithium’s Greenbushes operation about 200km south of Perth leads the pack in terms of inventory and grade with Pilgangoora and Wodgina following behind.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au