Red Dirt Metals Limited (ASX: RDT) first assays returned from on drilling at the Yinnetharra Lithium Project in Western Australia have identified that the company had intersected M1 pegmatite over 55.6m at 1.12% Li2O.
The results confirm November 2022 reports that Red Dirt had identified visual spodumene as the Diamond Drill holes were completed. The result for hold YNRD005 has been returned, delivering a significant intercept and high-grade lithium.
Executive Chairman, David Flanagan, said this initial assay result is further evidence of the significant lithium mineralization at the Yinnetharra Project and the exciting potential of the ground the company will be aggressively exploring during 2023.
“This is a cracking result for the company’s first drill hole assay at Yinnetharra,” Mr Flanagan said.
“This result demonstrates we have grade, we have width, we have strike, it comes to surface and it is just the first target. We have high expectations for this Project and when combining these intercepts with the geology we see in the core and outcrop the team is very excited.
“The company firmly believes Yinnetharra could host a deposit of global significance and we are well funded to execute our strategies to test that theory during 2023.
“Receiving such fabulous results in such a short period of time is a huge achievement for our team and testament to their exploration skill. This result is from the first of the 16 diamond drill holes completed in late 2022 and we are already back underway at Yinnetharra with operations at site ramping up significantly since the start of 2023. The team has been measured and careful in their chosen exploration approach and we are highly appreciative of all their efforts.”
The company continues to progress the diamond drilling as well as infill and expansion RC drilling programmes across the Project which will cover more than 400 holes and 90,000m in 2023. More than 50 Lithium pegmatites have been identified at the Malinda Prospect and will be progressively investigated during the year. Extensional RC drilling is due to begin at the M1 pegmatite in the coming weeks, with ~one km strike of anomalism from drilling, soils and outcrops to undergo testing in this pegmatite alone.