Delta Lithium Limited (Delta) has provided an update on activities at both its 100 per cent-owned lithium projects at the Mt Ida Lithium Project in the Goldfields region of Western Australia.
Newly reported drilling results include:
- 27m at 1.3 per cent lithium oxide from 848m in IDRD245
- 21.2m at 0.5 per cent lithium oxide from 561.1m in SPRD045
- 20.9m at 1.4 per cent lithium oxide from 675.4 m in IDRD036N2
- 17.8m at one per cent lithium oxide from 477.9m in SPRD041N2
Five rigs have been demobilised, leaving three rigs continuing with exploration, engineering, metallurgy and hydrology holes whilst the Resource Update is prepared.
The Mt Ida Lithium Project remains on track for approval to mine in 2023. An initial Maiden Resource Estimate of 12.7Mt at 1.2 per cent lithium oxide was reported in October 2021.
Resource drilling is slowing down at Mt Ida in preparation for a Mineral Resource Update scheduled for September 2023. Exploration drilling is ongoing with complete results for the western portion of the granite expected soon.
Three drill rigs will remain at Mt Ida, undertaking exploration, sterilisation, engineering, metallurgy and hydrology drilling.
Delta Executive Chairman, David Flanagan, said, “This is now bringing us towards the end of the resource drilling to support a new mining operation from Q4 2023. Mt Ida is the only lithium project in the current Western Australian mines department currently under consideration. It is going to be the next lithium mine in Western Australia.
“The team has worked unbelievably hard and I am so proud of them all. Very few mining companies have achieved so much with so few.
“A true speed to market strategy requires running multiple tasks in parallel across mining, marketing, approvals, process engineering and exploration. It’s not just moving quickly, it’s about being attentive, responsive and making lots of decisions.
“That means our shareholders get the best opportunity for exposure to the highest possible pricing,” Mr Flanagan said.
Delta has completed 471 holes for 97,965m (within calendar year 2023) at Mt Ida.
This announcement relates to results received from 28 diamond drill (DD) holes. A further 40 holes from the Mt Ida Project are in the process of being assayed with results due in batches throughout the next few months.
