Marquee (ASX:MQR) maps out fertile West Spargoville swarm

Marquee (ASX:MQR) maps out fertile West Spargoville swarm

April 4, 2024 Off By Jack Baker

Marquee Resources’ mapping and sampling has discovered a swarm of over 40 lithium-fertile pegmatites at its West Spargoville joint venture with Mineral Resources in the core of Western Australia’s Southern Yilgarn Lithium Belt.

Portable-XRF analysis confirmed spodumene in 10 of the collection, with rock chip sampling returning a best assay of 3.01 per cent lithium oxide amid numerous results exceeding 1%.

The explorer has also completed a highly detailed ground gravity survey over the priority area, with 3900 stations, to aid targeting at the untapped depths.

Marquee Resources Executive Chairman Charles Thomas said the company was very excited about the new mineralised swarm and could not wait to test its new targets in the coming months.

“Our interpretation is that the pegmatites mapped at surface may converge and potentially blow out at depth and the ground gravity survey is designed to assist with the targeting of these structures,” Thomas said.

“We are currently proceeding through the drilling approvals process with a view to begin drilling as soon as possible.”

Marquee is collaborating closely with Mineral Resources (ASX:MIN) on all facets of the project, and the lithium mine leader appears to be zigging against the zag of a lithium price downturn.

West Spargoville sits among a well-proven collection of spodumene deposits in the Goldfields-Esperance region, where Marquee’s major partner has continued to raise its stake.

MinRes’ own Bald Hill and Mt Marion mines, alongside Liontown Resources‘ (ASX:LTR) Buldania and Develop Global‘s (ASX:DVP) Pioneer Dome projects, all sit nearby, with the Covalent Lithium world-class Earl Grey deposit and the Allkem (ASX:AKE) Mt Cattlin Mine resting a little further away.

Mineral Resources intends to develop a newly acquired nickel concentrator at Lake Johnston as its third lithium processing hub in the Goldfields, envisioned to process ore from both its own discoveries and third-party ore.

It places companies like Marquee in a good position to keep exploring and making those discoveries alongside one of the best, and potentially progress projects like West Spargoville into large-scale assets.

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