METALSGROVE MINING LIMITED MetalsGrove Mining Limited announced that an extensive surface soil programme is underway at the Company's Upper Coondina Lithium Project in Western Australia. The programme will comprise approximately 2,500 samples on a grid spaced 50m x 200m covering 50% of the Upper Coondina Project area. The untested magnetic anomaly identified within the project area will be a key focus of these upcoming work programmes.
Upper Coondina Project Background: The Upper Coondina Project is located 85 km south-west of Marble Bar in the East Pilbara district of WA. The Project is located approximately halfway between the major mining regional service centres of Port Hedland and Newman, located approximately 200 km northwest and 180 km south-southeast of the project, respectively. The Project comprises a single granted Exploration Licence.
The tenement covers an area of approximately 6,363 ha and the maximum distance across the project is about 11 km eastwest and 8 km northsouth. Nearby lithium mines include the Wodgina, Pilbara Minerals and recent lithium developer Global Lithium. Historical Exploration Summary: The Greater Shaw Tin Field has attracted exploration interest since the discovery of tin in 1890 however most of the exploration and subsequent mining of tin and tantalum has been on the small scale.
The Shaw Tin Field, which has historically produced more than 6,500 t of tin concentrate, has attracted exploration interest since the discovery of tin in 1890. In 1968, Marble Bar Nickel carried out a rock chip sampling programme covering tenement E45/3699 of the current Hillside CRG (A1714). A 1972 stream sediment sampling programme by Anglo American Services Limited targeting Ni-Cu mineralisation identified a copper anomaly in ultramafic and pillow basalts and another in altered gabbro, both of which were subsequently found to be insignificant.
In early 1968, the field was largely abandoned after the shallow deposits were soon exhausted. Towards the end of 1968, a local resident discovered further cassiterite mineralisation in cemented alluvium within a largely concealed tertiary drainage channel. In 1983, CSR Limited explored for economic secondary concentrations of tin and tantalum in the area.
Their exploration program included follow-up on radiometric anomalies, stream sediment sampling and geological mapping. No discrete localities of anomalous tin could be identified. CSR Limited identified simple pegmatite veins as the sources of the tin.
No dedicated Li-focused exploration has been carried out within the project area, however given historical surface geochemical sampling has returned anomalous values up to 253ppm LiO2, MGA considers that this untested magnetic anomaly warrants follow-up exploration to determine its source. The exploration results that are referred to above were included in MetalsGrove's IPO prospectus dated 13 May 2022 (Prospectus). MetalsGrove is not aware of any new information in respect of these results and confirms that full details with respect to these results are included in the Prospectus.
