HIGHLIGHTS
Thick 25.5m shallow pegmatite intercept identified from historic diamond drillhole at Tank Hill Prospect
Contains elevated lithium grades over 20m interval
Lithium grades correspond with logged spodumene from diamond drill-core
Ragusa Minerals Limited (ASX: RAS) (“Ragusa” or “Company”) is pleased to announce that it has recently received data from a historic diamond drill-hole in the Tank Hill Prospect area containing a significant pegmatite intercept with logged spodumene and corresponding elevated lithium from laboratory assay results from the Company’s NT Lithium Project (“Project”) – located in the highly prospective Litchfield Pegmatite Belt in Northern Territory, approximately 120km south of Darwin.
The diamond drill-hole (MDD004) was completed by May Drilling during 2019, with the assay and geological logging data only provided recently to Ragusa. The pegmatite drill-intercept starts and finishes well within the lithium depleted zone (top ~65m below surface), accounting for the anomalous Li2O grades intersected. Importantly, the Li2O grades correspond with the geological logging conducted, which describes much of the interval as containing spodumene and spatially with the surface outcrop containing abundant lepidolite (rock chip sample 140333)1. The surface expression of the pegmatite indicates an ~12m true thickness that is also supported by the downhole data (refer figure 1 in announcement).
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