From Sto>>khead announcement Reach picks up new mining licence,...

From Sto>>khead announcement

Reach picks up new mining licence, expands lithium landholding at ‘Delta lookalike’ Morrissey Hill

“From my point of view this was a strategic acquisition two-fold: the mining lease (ML) contains potential lithium bearing pegs and as an ML is a much quicker path to production,” Reach CEO Jeremy Bower says.

“Plus securing this tenure rather than a competitor ensures greater control of our operations.”

Pic: Morrissey Hill lithium project showing the location of M09/101. Source: RR1.

Reach Resources has acquired a new mining lease (M09/101) right next door to its Morrissey Hill lithium project in WA, where all-important Phase 1 drilling assays are pending.The project hosts more than 50 previously unrecognised pegmatites – the host rock for lithium mineralisation – across a combined strike length in excess of 10km.It is also in the right area of a big discovery, being in the same system of rocks as neighbour Delta Lithium’s (ASXLI) Malinda project, where numerous hits like 56m at 1.12% lithium sparked a regional pegging rush.Rock chip assays at RR1’s Bonzer prospect have already confirmed up to 2.3% Li2O across a monster 1.5km long pegmatite.Subsequent Phase 1 drilling identified individual outcropping pegmatites with strike lengths of up to 2kms and widths of up to 30m.Not to mention, diamond drill cores have shown multiple pegmatite intersections consistent with the geology at Malinda. Assays are pending.