White Cliff (ASX:WCN) prove up prospectivity at Lake Johnston SouthNovember 29, 2023
The review over White Cliff Minerals dominant land position at Lake Johnston South has confirmed the tenements to be highly prospective for pegmatites and cover a large portion of a Lake Johnston Greenstone Belt and associated magnetic trends abuzz with activity.
A high-profile TG Metals Burmeister discovery validated a small collection of juniors’ interest in the region, and Rio Tinto did not waste time joining the fray, signing into a JV agreement with Charger Metals.
White Cliff would be remiss to not investigate newly acquired tenements lying so close, and Government open file coarse magnetic data indeed indicated a continuation of the greenstone belt onto its own territory and a tantalising exploration opportunity.
White Cliff Chairman Roderick McIllree said the company has been undertaking a top-to-bottom portfolio review while acquiring large-scale high-grade Canadian copper and uranium projects and was delighted to have uncovered a stunning lithium prospect in a proven province.
“Given the several large discoveries by the adjacent TG Metals (TG6.ASX), and Rio Tinto Exploration and Charger Metals (CHR.ASX) commercially significant transactions, we have enormous confidence in the potential value of the Project,” Mr McIllree said.
“We look forward to getting our exploration underway during December, intending to drill subsequent targets in early 2024.”
More sampling and mapping are now firmly on the agenda for the remainder of the year, and a Program of Work for drilling will be submitted in the New Year as TG Metals, Charger, Bryah, Rio, White Cliff and potentially a couple of regional nickel explorers dig into Australia’s newest lithium hot spot.
Even through a price downturn lithium producers remain steadfast on lofty evaluations and immense future demand, and TG Metals and Charger’s capital raisings have shown there is always interest in drilling for a major discovery.
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