16/08/2021 - 19:30

Okapi uncovers 2km lithium target in WA Goldfields

16/08/2021 - 19:30

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ASX-listed Okapi Resources has uncovered a 2-kilometre-long lithium target from a recently completed soil program at its newly acquired Lake Johnston project 450km east of Perth in Western Australia. Lithium in soil results have graded up to 86 parts per million and bear strong similarities with nearby results recently announced by joint venture partner Charger Metals at the adjoining Mount Day project.

Lake Johnston. Credit: File

ASX-listed Okapi Resources has uncovered a 2-kilometre-long lithium target from a recently completed soil program at its newly acquired Lake Johnston project 450km east of Perth in Western Australia. Lithium in soil results have graded up to 86 parts per million, or “ppm” and bear strong similarities with nearby results recently announced by joint venture partner Charger Metals at the adjoining Mount Day project.

Okapi says the soil program comprised 664 samples on a 200 metre by 50m grid. Anomalous results above 25 ppm for lithium were highlighted over 2,000m of strike with a peak lithium-in-soil result of 86 ppm lithium. The company said the lithium anomalism was also coincident with caesium and rubidium – metals typically suggestive of the presence of a lithium-caesium-tantalum, or “LCT” pegmatites.

Boots on the ground mapping by the company’s technical team has noted the presence of several pegmatites that point to the lithium potential of the area.

Okapi Resources Executive Director, David Nour said: “At this early stage of exploration on the project, we are very pleased to be receiving encouraging results on both gold and lithium. We will be looking to fast track exploration by confirming the on-ground expression of the structures and pegmatites hosting these metals, and working towards receiving the necessary clearances as soon as possible to drill these targets.”

The region is attracting considerable attention following the discovery of the Earl Grey/Mt Holland lithium deposit by Kidman Resources and is now being developed by Wesfarmers and SQM approximately 70km west of the Lake Johnston Project. Mt Holland is understood to be one of the largest undeveloped hard-rock lithium projects in Australia with estimated reserves of 94.2 million tonnes at 1.5 per cent lithium oxide.

In addition to the encouraging lithium-in-soil anomalism, Okapi also reported gold-in-soil anomalisms with peak values of 78 parts per billion. According to the company, the anomalism confirms and extends historically reported anomalisms over 5km of strike and coincides with interpreted structures in proximity to intrusive felsic rocks on the tenement.

Interestingly, the gold anomalism accompanies a zone of silver, bismuth and tungsten which the company says is indicative of a gold mineralised system.

Gold anomalisms continue along strike north-west from gold targets on the adjoining Mount Day project.

In total, the company has confirmed a significant 15km of prospective strike length of gold-in-soil anomalisms at the project now.

Historical rock chip sampling over the tenement have thrown up values up to 10.7 grams per tonne gold and previous drilling within the area immediately adjacent to Mount Day intercepted a gold-bearing structure that returned gold values in several holes up to 2m going 11.04 g/t gold from 26m depth.

It is early days for Okapi at its newly acquired Lake Johnston project however with initial exploration efforts being met with early success, the company is well blooded for the hunt now.

 

 

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

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