- Bulletin Resources (BNR) confirms a second high-grade lithium pegmatite trend at its Ravensthorpe Lithium Project in Western Australia
- The western pegmatite trend paralleled the previously identified eastern pegmatite trend
- The company conducted a sampling program on the Horseshoe pegmatite in the trend, which returned results of up to 4.5% lithium oxide.
- Going forward, the company remains well funded to advance exploration in western and eastern pegmatite trends.
- The shares were trading up 6.25% this morning at 17 cents each
Bulletin Resources (BNR) has confirmed a second trend of high-grade lithium pegmatite at its Ravensthorpe Lithium project in Western Australia.
The trend was confirmed to the west and parallel to the previously identified eastern pegmatite trend.
In the Western Pegmatite Trend, the company conducted a sampling program at the Horseshoe pegmatite.
This work was carried out at regular ten meter intervals along strike of a one meter wide and 50 meter long lepidolite-rich outcrop in the southern part of the Horseshoe pegmatite.
The results gave up to 4.5% lithium oxide with an average of 3.1% lithium oxide, 0.8% rubidium and 0.16% cesium.
Additionally, known lepidolite zones at the Horseshoe pegmatite remain to be tested.
The company plans to advance exploration in both the western pegmatite corridor and the eastern pegmatite corridor.
Bulletin said it remains well funded with $12.06 million in cash, receivables and liquid investments.
CEO Mark Csar said he was excited about the opportunity.
“Following the exceptional spodumene and amblygonite lithium rock chip assays recently reported at Big Pegmatite in the Eastern Pegmatite Trend, it is extremely pleasing to report high-grade lithium assays in the Eastern Pegmatite Trend. western pegmatite,” he said.
“We now have a great opportunity to advance two lithium deposits just a few kilometers apart in this incredibly prospective area with an operating lithium processing plant just 12 kilometers away.”
The shares were trading up 6.25% this morning at 17 cents apiece as of 10:50 a.m. AEDT.