HIGHLIGHTS
Pegmatite intersections observed in both diamond drillholes, lithium confirmed with grades up to 0.7% Li₂O and a high-grade interval of 3.25m @ 630ppm tungsten
RC drilling planned for 2023 field season targeting newly discovered pegmatites from recent site reconnaissance works
Ridges prospect pegmatite contains visible tantalite +/- cassiterite minerals with grades up to 3,344ppm Tantalum and 700ppm Tin in rock chip sample (sample SM0051) over an approximate 150m (length) x 15m (width) outcrop
Ragusa Minerals Limited (ASX: RAS) (“Ragusa” or “Company”) is pleased to advise receipt of laboratory analysis results of its recent diamond drilling campaign from the Tank Hill prospect at the NT Lithium Project.
The analysis results achieved grades up to 0.7% Li₂O and mineralised intervals up to 10m at 0.32% Li₂O, confirming the presence of spodumene mineralization within the project area. The lithium results confirm fractionation of the pegmatites in the area to be in the right zone, and adequate distance from the lithium source granite, with all intersections to date fitting into the category of Lithium Cesium Tantalum (LCT) pegmatites.
Ragusa Chair, Jerko Zuvela said “The Company is excited to continue exploration drilling works at our NT Lithium Project, within a well-renowned lithium district in a Tier 1 jurisdiction close to major infrastructure. Recent site works have outlined additional target areas and the Company is preparing to commence field works. Ragusa looks forward to realising significant milestones in 2023 at a time of renewed strategic interest in exploration stage lithium projects.”