Lithium Australia NL takes advantage of data to identify lithium...

Lithium Australia NL takes advantage of data to identify lithium
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09:30 27 Jan 2017
Lithium Australia NL (ASX:LIT) has used newly acquired airborne geophysics data to identify known and possibly buried lithium-tantalum bearing pegmatites at the Mt Day and Lake Johnston projects, located 420 kilometres east of Perth.
Lithium Australia NL takes advantage of data to identify lithium
Based on the new 50 metre line spaced data, the majority of the known lithium-tantalum bearing pegmatites are coincidental with ring-like, potassium radiometric anomalies.
Pegmatite outcrops defined through satellite imagery interpretation and field reconnaissance, confirm that many of the pegmatite outcrops are circular in outcrop and are possibly related to late-stage ring fractures.
It is further interpreted that the low to moderate amplitude potassium anomalies without any rock expression are related to shallowly buried pegmatites.
Adrian Griffin, managing director, commented: “Lithium Australia continues to develop its outstanding lithium exploration projects to ensure an accessible pipeline of potential lithium feed.
“We are encouraged by these initial Lake Johnston survey results and are pleased with our collaboration with Poseidon and Lefroy.”
The survey was completed in collaboration with neighbouring tenement holders Poseidon Nickel (ASXOS) and Lefroy Exploration (ASX:LEX), who also hold some nickel and gold rights in the area.
Lithium Australia shares are trading up 40% over the past month, currently priced at $0.19.
http://www.*.com.au/companies/news/...ntage-of-data-to-identify-lithium-172258.html