Dynamic Metals has kickstarted a lithium soil-sampling program at its Spargos East and Franks Far Southeast prospect at Widgiemooltha in Western Australia’s Goldfields region, as part of a wider campaign across its portfolio.
The company is also awaiting assays from completed augur sampling at its Pioneer Dome project and is ramping up work, including data compilation, at its recently-acquired Lady Jane tenement.
Dynamic expects its recent applications for five exploration licences, covering some 100 square kilometres of highly prospective ground, to be granted next year. The tenements neighbour Ora Banda Mining’s Davyhurst project, which was the subject of a recent $26 million lithium-focused joint venture (JV) farm-in transaction with Wesfarmers Chemicals, Energy & Fertilisers.
The company is focused on advancing a highly-prospective portfolio of future-facing critical minerals projects in Australia, with its immediate attention set on completing reconnaissance soil sampling at the Spargos East and Franks Find Southeast lithium prospects. The purpose of the soil sampling programs is to assess the lithium-caesium-tantalum (LCT) pegmatite potential of the two prospects, with the sampling anticipated to take 10 days to complete.
The prospects were identified by the company as having residual or outcropping geology and are in an emerging lithium belt.
As part of its long-term growth strategy, Dynamic says it continuously reviews available exploration ground for opportunities to build up additional prospective ground. That strategy has led to the recent application for five exploration licences that will comprise its new Lady Jane project.
In October, management revealed results from a significant first-pass soil-sampling campaign at Pioneer Dome, identifying a 2.8km lithium-enriched trend at the prospect. In total, about 1900 soil samples were taken as part of the reconnaissance exploration program, with the area considered highly-prospective for LCT pegmatites.
The program tested 12km of strike along the western side of Pioneer Dome, adjacent to Essential Metals’ Dome North lithium project which hosts a mineral resource of 11.2 million tonnes at 1.2per cent lithium oxide. The highly-successful Mt Marion lithium mine, in addition to the well-known Bald Hill and Buldania projects, are also all within 25km of Dynamic’s tenure.
Three lines of follow-up auger sampling were carried out last month, with the much-anticipated assays pending.
The company completed a successful initial public offering in January this year, raising $7 million to fully fund an aggressive exploration program across its portfolio. Its flagship Widgiemooltha project covers an extensive area of about 880sq km extending between Norseman and Kambalda. The region is well known for its many nickel and gold mines, but has more recently emerged in significance for its lithium mineralisation and prospectivity.
There is an expectation that lithium will play an important role in the energy transition in the coming decades. Lithium forecaster Fastmarkets, for example, is predicting the lithium supply of some 800,000 tonnes this year will need to increase to 2 million tonnes by 2030 to meet the expected demand.
So, Dynamic will be hoping its focused attack on the lithium potential at its various projects will produce the type of results that enable it to prosper from that rampant demand.
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