Speciality Metals dishes up 'outstanding' Chilean lithium results
Speciality Metals InternationalLimited (ASX:SEI) today announced that its latest sampling program has yieldedsome impressive lithium results within its explorationconcessions over parts of Salarde Pintados and Salar Bellavista in theAtacama region of Northern Chile.
Sampling has focused on surfacesaline crusts showing strong evidence of evaporation of subsurface brines to the surface. In particular, a mainanomalous population ranging from 400 to 2360 parts per million lithium wasobtained from samples along the western margin of Salar de Pintados and thenorthern margin of Salar Bellavista.
These values fall within orexceed the range of lithium brine concentrations exploited by existing lithiumbrine producers and are one or more orders greater than lithium values insurface samples from Salar de Atacama, where a third of the world's lithium iscurrently produced.
The areas of very high lithiumvalues are surrounded by larger areas of strongly anomalous lithium valuesranging from 150 to 400 parts per million ppm. Confirmation of lithiumconcentrations in the subsurface will depend on drilling results. However, in themeanwhile, the sample results appear to strongly confirm SEI's explorationmodel.
SEI will likely apply for more concessions,given that sampling outside its existing concessions has indicated further lithiumdiscovery opportunities.
At the same time, the samplinghas obtained some highly anomalous boron values ranging up to 7000 parts permillion boron. Analysis of the sample data indicates that the boron values arenot related to lithium - that is,the boron values may indicate boron mineralisation separate to, and in additionto, potential lithium enrichment. Magnesium values in samples with high lithiumcontent indicate acceptable levels of magnesium, which, if evaporation is usedin any future lithium production, is potentially an important economic factorin lithium recovery.
Get the latest articles straight to your inboxkeep me postedThe next step in testing SEI'sresults will be a drilling program. Work is now focused on selecting a drillingmethod that will safely deliver reliable samples, and then identification ofdrilling contractors to tender for the work. The recent sample data andgeophysical work will greatly assist planning for drill testing.
It should benoted that SEI is an early stage company and investors should seek professionalfinancial advice if considering this stock for their portfolio.
SEI executive chairman, RussellKrause, said: "The Board is extremely pleased with the latest sampling results,given that they not only appear to strongly confirm the company's explorationmodel and geological theories, but it has also led to the identification otherhigh-grade indicators outside of our existing concessions which the companywill seek to secure over the coming months.
"The Board will now actively worktowards finalising and fine-tuning the targets for its upcoming drillingprogram and will seek to secure a drilling contractor to undertake this work inthe near future.
"The Board and its geological teamare confident that mineable quantities of lithium and other valuable mineralresources are still waiting to be discovered in Northern Chile, something thatSpeciality Metals is hoping to achieve as part of its exploration model.
"This is an exciting time for thecompany as it continues to prove-up and build upon its diversified explorationportfolio. We look forward to releasing further details regarding our Chileanexploration/drilling activities in the near future," added Krause.
Location of SEI's concessions innorthern Chile
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