RR1 -Reach Resources Limited today closed up 36% to finish at 1.9c on $3.6m stock traded. The reason they were up today was because they announced exploration results from its Morrissey Hill Lithium Project located in Yinnetharra, WA.
Multiple new, wide and strike extensive pegmatites have been identified during recent mapping, increasing the potential strike to over 10km.
Individual pegmatites extend up to 2km in strike length and over 30 metres in width, with the same sequence which hosts Delta Lithium’s neighbouring Malinda Lithium Deposit(DLI.asx).
There is that name again.......
Rock chip sampling and an extensive geochemical soil sampling survey, which has proven to be an effective method so far for identifying potentially mineralised pegmatite systems, is now underway across all these areas.
Some details on today's news are listed below:
NEWLY IDENTIFIED, MULTIPLE OUTCROPPING PEGMATITES DISCOVERED PROVIDE POTENTIAL STRIKE > 10km
HIGHLIGHTS- Multiple new, wide and strike extensive pegmatites1 have been identified during recent mapping at the Morrissey Hill Lithium Project, Yinnetharra WA.
- The new target areas significantly increase the scale of opportunity at Morrissey Hill.
- Morrissey Hill has now demonstrated to host more than 50 previously unrecognised pegmatites with a combined cumulative strike length in excess of 10km.
- Individual outcropping pegmatites show strike lengths of up to 2kms and widths of up to 30m. The majority occur within a mixed package of sediments & mafic volcanics (greenstones).
- A comprehensive rock chip and geochemical soil sampling survey is already underway.
- Heritage surveys have been completed for the majority of newly identified targets.
- All samples from Phase 1 drilling at the Bonzer Prospect are now at the lab, with results expected early October.
- Phase 2 drilling remains set to commence this year pending receipt of regulatory approvals.
Reach Resources Limited is pleased to advise that recent mapping at the Company’s 100% owned Morrissey Hill Lithium Project, Yinnetharra WA has identified multiple, previously unrecognised, wide and strike extensive pegmatite swarms.
Jeremy Bower CEO commented:
“Our maiden drill program at Morrissey Hill has been extremely encouraging. Not only have we intersected significant pegmatite widths below surface and stacked down hole to ~400m, the extended time on site has also allowed the team to map some seriously good outcropping pegmatite targets right across the project area.
Most importantly, these pegmatites are hosted within greenstones (mafic volcanics) and/or sediments of the Leake Springs Metamorphic package rather than simply granite as is indicated on the regional scale GSWA map sheets.
These are the same rocks that host the lithium mineralisation at Delta Lithium’s Malinda Project right next door.
Our new target areas are a significant development as they potentially extend our strike length at Morrissey Hill to over 10km across all the target areas.
This 10km does not include the “blind” pegmatites that we know are on site, based on our intersections during the maiden drill campaign. The Future is within Reach.”
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