EV Resources: Results Received for Shaw River Reconnaissance Sampling
Highlights:
- EV Resources has received results for the initial sampling undertaken during Due Diligence on the Shaw River Project.
- A number of pegmatite outcrops were observed and 31 samples were collected within accessible portions of the tenement, with only 20% of the tenement accessed.
- Pathfinder element results indicate fractionisation of the pegmatite host and potential for lithium mineralisation.
23 December 2021 – EV Resources Limited (ASX:EVR) (“EVR”, the “Company”), formally Jadar Resources Limited, is pleased to announce that results have been received for reconnaissance sampling undertaken within the Shaw River Project during the Due Diligence period.
The Company announced on 30th November that Due Diligence had been completed and the Company was moving towards completion of the acquisition. The Shaw River Exploration Licence 45/5849 comprises 22 sub-blocks or 70 square kilometres and covers several areas of historic tin-tantalum workings.
Figure 1. Shaw River sample locations,
Samples collected were predominantly from outcropping pegmatite, with four stream sediment and one float sample also collected. Maximum lithium value was 212ppm in two samples, both collected from outcropping mica-rich pegmatite. (see results, Table 1).
Lithium minerals are susceptible to surface weathering, with outcrop sampling often producing results that may not be representative of lithium content in the fresh portions of the host rock. In lithium exploration, k/Rb ratios are utilised as geochemical and metallogenic markers to determine fractionisation of the pegmatite host and location within the magmatic–hydrothermal transition zone. Fractionisation, or element zonation within the magmatic melt, is critical for the formation of economic pegmatite-hosted lithium mineralisation. As fractionisation of the parent melt increases, pegmatitic–hydrothermal evolution is characterised by increased substitution of K with Rb in micas and feldspars. Ratios of <30 and <20 in pure Feldspar and Muscovite respectively are considered as Rare Element Pegmatite and Spodumene-Subtype Pegmatite respectively. A cluster of k/Rb ratio values around 30 in the sample group in the western part of the tenure may be indicative of a highly fractionated pegmatite. A high Caesium value of almost 100ppm in sample Sh00024 and Sn to 267ppm in Sh00001 is also considered as evidence for a Rare Element Pegmatite.
Based on minimal sampling, with only 10 to 20 percent of the tenement visited to date, and the observed presence of numerous pegmatite occurrences in zones to over 15 metres width in conjunction with sample analyses that indicate fractionisation of pegmatite, with fractionisation of pegmatite important for lithium mineral concentration, the Company considers the Shaw River Project to have considerable potential to host lithium-tantalum mineralisation. It should be noted the results to date, whilst extremely encouraging, indicate potential, but do not confirm the presence, of economic lithium mineralisation.
The next stage of exploration at Shaw River will comprise geological mapping and systematic channel sampling across pegmatite outcrop, particularly in the Hillside and Upper Five Mile Creek areas where elevated K/Rb ratios were recognised. Satellite imagery will be utilised to determine the presence of pegmatite outcrop in other areas of the tenement that have not been visited, and mapping and detailed sampling of any observed pegmatite will also be undertaken.
Figure 2. Traditional model of regional zonation/fractionisation and rare metal enrichment of pegmatites.
ENDS
For further information, please contact:
Luke Martino
Non-Executive Chairman
Tel: +61 8 6489 0600
Adrian Paul
Executive Director
Tel: +61 8 6489 0600
evresources.com.au
311-313 Hay St Subiaco, Western Australia 6008
+61 (0) 8 6489 0600
This ASX announcement was authorised for release by the Board of EV Resources Limited (EVR).
Forward Looking Statement
Forward Looking Statements regarding EVR´s plans with respect to its mineral properties and programs are forward-looking statements. There can be nо assurance that EVR’s plans for development of its mineral properties will proceed as currently expected. Therе can also be no assurance that EVR will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of EVR’s mineral properties. The performance of EVR may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
Competent Person’s Statement
The information in this announcement that relates to 45/5849, Shaw River, is based on information compiled by Mr Erik Norum who is a Member of the Australian Institute of Geoscientists. Mr Norum is contracted to EV Resources. Mr Norum has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Norum consents to the inclusion in this announcement of the matters based on information in the form and context in which it appears.
Table 1. Shaw River sample results
