Cavalier (ASX:CVR) digs into fresh Forrestania LCT targets at Ella’s Rock

Cavalier (ASX:CVR) digs into fresh Forrestania LCT targets at Ella’s Rock

April 22, 2024 Off By Jack Baker

Cavalier Resources has a large-scale maiden aircore drill campaign underway to get the first proper taste of the central lithium-caesium-tantalum targets at its Ella’s Rock project in the West Australian battery mineral hub of Forrestania.

The Fitzgerald and southern Baché targets sit among 277 dyke-like signals found last year by UltraMag Geophysics, which considered the tally to be a likely world record from a survey of that size.

Cavalier’s targets are believed to be similar in tenor to ones UltraMag likewise uncovered through a deep ground-penetrating radar survey at the nearby 12.1 million tonne, 1.3 per cent lithium oxide Mt Cattlin mine.

The Western Australian company will now undertake a 2500-metre drilling campaign to see if assays can pick up the same trail of world-class lithium.

Cavalier Executive Technical Director Daniel Tuffin said the company’s maiden program over untested anomalies at Ella’s Rock marked a major project milestone.

“The project, which is located between the world-class Mt Cattlin and Mt Holland lithium projects, has remained largely unexplored due to its remoteness and challenges associated with access,” Tuffin said.

“This initial campaign is the first step towards drill-testing some of the 277 LCT signals identified by UltraMag via their DGPR survey.

“UltraMag’s findings were promising as the signals not only exhibited correlation with the company’s previous geochemical surveys, but also matched historic signals that led to the discovery of further coarse-grained lithium-bearing pegmatites at the Mt Cattlin Lithium Project, located 90km to the south.”

The long-productive nickel territory of Forrestania now holds a greater allure for lithium in a Goldfields region Mineral Resources (ASX:MIN) considers to be the most lithium-prospective on earth.

Chris Ellison-led MinRes is planning to repurpose a nickel concentrator into a third lithium processing hub in the southern Goldfields at nearby Lake Johnston and fellow lithium heavyweight Pilbara Minerals (ASX:PLS) says it has seen a strong uplift in pricing after production cuts.

The developments support a strong appetite for exploration in the region, and an opportunity for companies like Cavalier to prove up prospectivity in territory encircled by the majors.

Tuffin was among six speakers at MarketOpen’s recent Stock Soirée held in Perth last Wednesday.

The Cavalier director told more than 100 investors the company was focused on embarking on its gold and multimetal exploration efforts while minimising shareholder dilution.

Future takeover target Cavalier expects to maintain its shareholders’ potential future upside by continuing to self-fund its initiatives or draw upon future debt funding opportunities.

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