Getting some attention from the Media Kidman hits high on new...

Getting some attention from the Media

Kidman hits high on new results

KIDMAN Resources shares hit a three-year high today after drilling doubled the known strike length of the Earl Grey lithium prospect.

• Kristie Batten​
• 21 Sep 2016​
• 9:23​
• News​

Pegmatite core from Mt Holland.
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LithiumKidman ResourcesWestern Australia
Earl Grey has been extended to 1100m by 750m with an estimated true width of around 80m.
The growing prospect remains open in all directions.
Assays from latest five holes included 7m at 1.83% lithium oxide from 75m; 68m at 1.82% from 111m, including 4m at 3.22%; 14m at 1.55% from 93m; and 68m at 1% from 121m.
Two rigs are continuing drilling up-dip to the south, with an outcropping pegmatite sitting 400m from the southern-most hole, indicating a possible strike length of 1.5km.
Kidman is planning to release a maiden resource for Earl Grey by the end of the year.
Earl Grey is part of the Mt Holland project near Southern Cross in Western Australia.
Kidman acquired the project for $A3.5 million earlier this year for its 1 million ounce gold resource.
After receiving third party enquiries, a review of the lithium prospectivity identified the potential for spodumene-bearing pegmatites.
In late July, Kidman signed a memorandum of understanding with Poseidon Nickel over the possible use of Poseidon’s 1.5 million tonnes per annum Lake Johnson concentrator to process lithium ore from Earl Grey.
Earl Grey sits on a granted mining lease and the company said the project contains at least three more pegmatites.
The company raised $21 million last month to advance gold and lithium exploration at Mt Holland, while its other asset, the Burbanks gold mine, has been placed under review.
Shares in the company have more than tripled since July and are up by more than 60% so far this month.
The stock hit a three-year intraday high of 58.5c this morning but last traded at 56.5c, a 6% rise.