Calidus Resources Lithium Pegmatite Strike Doubled

Calidus Resources Ltd (ASX: CAI)

Announced outstanding results from further rock-chip sampling and mapping by Pirra Lithium at its Spear Hill discovery announced in January 2022

Pirra Lithium is owned equally by Calidus and Haoma Mining.  […] 

 

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Calidus Resources ASX: CAI
Stage Production, exploration
Metals Gold, lithium
Market Cap A$342 m  @ A$0.85
Location Pilbara, Western Australia

 

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Calidus Resources - Pirra Lithium

Pirra Lithium – Lithium pegmatite outcropping at surface

 

 

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Calidus Resources – Pirra Lithium High-grade lithium pegmatite doubled to 2.5km strike

Latest assays up to 2.75% Li2O; Drilling scheduled to start within weeks

Calidus Resources Limited (ASX:CAI) is pleased to announce outstanding results from
further rock-chip sampling and mapping by Pirra Lithium at its Spear Hill discovery
announced in January 2022

Pirra Lithium is owned equally by Calidus Resources and Haoma Mining NL2

HIGHLIGHTS
• Calidus’ 50 per cent owned Pirra Lithium has extended the strike length
of the lithium pegmatite at Spear Hill in WA’s Pilbara to 2.5km
• Second batch of rock chips confirm lithium grades up to 2.75% Li2O
• Assays from a second parallel pegmatite returned up to 1.67% Li2O
• An application for a Programs of Work (PoW) has been lodged with DMIRS


Assays have been received for a further 70 rock-chip samples of the pegmatite and
adjacent country rocks. The samples were collected from the main pegmatite, to the
west-northwest of those reported earlier1 and from an interpreted fault offset of the
dyke to the north-east.

The assays confirm that the main pegmatite is lithium-bearing for more than 2.5km
along strike, and verify that a second, less well-defined pegmatite about 250m to the
north of the discovery pegmatite is mineralised with assays yielding 0.35-0.77% Li2O.

 

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Calidus Resources management comments

“These strong assays show clearly that we have a significant lithium pegmatite with high grades.

 

“In light of these results, we are gearing up for a maiden drilling program later this quarter.

 

“There is immense prospectivity across the large tenement package and rights owned
by Pirra Lithium. Our exploration to date has only scratched the surface of a small part
of the tenure”.

Calidus Resources Managing Director Dave Reeves

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To read the full news release, please click HERE

 

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If you need clarification of any information contained in this note, or have any questions about Calidus Resources, I will be delighted to assist – Please email andrew@city-investors-circle.com

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Disclosure

At the time of writing the author owns shares in Calidus Resources, bought in the market at the prevailing price on the day of purchase.

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