Midas Minerals hits early-stage of proof of lithium at WA goldfields Lake Seabrook venture - Earning Funda

Midas Minerals hits early-stage of proof of lithium at WA goldfields Lake Seabrook venture


Pathfinder components for lithium and tantalum have been detected by Midas Minerals (ASX:MM1) whereas out within the area at its WA goldfields-based Lake Seabrook venture, roughly 33km from trucking landmark and mining city favorite Southern Cross. 

Midas has a number of tenements equaling simply in need of 700km2 in a 200km of Southern Cross, with lithium and gold being the secret(s). Lake Seabrook is 94km2 throughout two tenements. 

The massive factor to notice: pegmatite mineralisation dominates the realm. 

Midas now discovering drill targets

Geochemical surveys led Midas’s exploration workforce to smell out the early-stage proof that Seabrook could maintain industrial portions of lithium. 

Midas will now transfer forward with extra geochem assessments, in addition to area mapping, to tell the route 2023 Lake Seabrook drilling will take, with boots again on the bottom in Q1 of subsequent 12 months. 

In 2009, the realm was additionally proved to be optimistic for uranium mineralisation by a now de-listed explorer.

In sure environments, lithium and uranium can happen collectively, and is kind of properly understood however not exceedingly frequent. That is the case for a minimum of one different ASX-listed venture—Aurora Vitality Metals’ (ASX:1AE) acreage in Colorado. 

Drilling simply makes senses 

“We plan to finish additional mapping in early 2023 to grasp the mineralogy of the pegmatites, distribution of greenstone remnants and variability of the granite,” Midas MD Mark Calderwood stated, speaking rock and stone.

“Lake Seabrook’s clusters of anomalous LCT path-finder components in geochemistry are encouraging and require additional work to refine and prioritise targets.”

Busy 12 months for multitasking Midas 

As of final month, Midas had 1,030 assay samples due again to it from the most recent drilling on the (comparatively) close by WA Newington lithium venture.

The corporate additionally continues to develop its WA Weebo venture, looking for gold, in addition to the Barracuda nickel-copper-PGE play

Oh: Midas can also be fairly certain it’s bought platinum deposits on the Challa venture, too. 

A quick glance at the six month chart for Midas

A fast look on the six month chart for Midas
Disclaimer: Market Index helps small-cap ASX listed corporations join with Australian traders via clear and concise articles on key developments. Midas was a shopper on the time of publishing. All protection incorporates factual data solely and shouldn’t be interpreted as an opinion or monetary recommendation.



Leave a Reply

Your email address will not be published. Required fields are marked *