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Accelerate Resources Limited (ASX:AX8)

ALERT: Price-sensitive ASX Announcement for AX8
Current share price for AX8 : $0.005 -0.031 (-86.11%)+
Announcement
Release
2 Jul 2024 8:25AM
Price at Release
$0.036
Full Release
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Summary
Accelerate Resources Limited (AX8) has announced the expansion of its target areas within the Karratha Lithium Project, citing new surface geochemical results that have significantly expanded the mineralised footprint of their West Pilbara lithium province projects. New zones of lithium and caesium have been identified in the Prinsep, Sholl East, and Roebourne South project areas, with exploration efforts set to continue integrating with ongoing work programs. Results from initial drilling at Prinsep are expected by the end of July 2024.
Key Points
  • New surface geochemical results expand mineralised footprint of Accelerate’s West Pilbara lithium province projects.
  • Significant coincident lithium and caesium zone defined in mafic host sequence north and parallel to known Prinsep pegmatites.
  • New coincident lithium and caesium zones identified at Sholl East and Roebourne South project areas.
  • Planned exploration of new targets to integrate with work programs following initial Prinsep drilling results, expected end of July.
  • 640 sample ultrafine fraction (UFF) soil program tested four target areas revealing new untested lithium and caesium zones.
  • Expansion of surface mineralised zone to 1.4km x 1.4km at Prinsep.
  • New targets with significant strike lengths identified at Mt Sholl East and Roebourne South projects.
  • Further soil sampling, mapping, and rock chip sampling planned over the upcoming weeks.
  • Prinsep Lithium Project situated 15km south of Karratha and 35km west of SH Mining’s Andover Lithium Project.
  • Drill results from the phase 1 RC drilling program at Prinsep expected by late July 2024.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.