Kali Metals Limited (ASX:KM1) Reports Major Gold Anomaly Expansion
Kali Metals Limited (ASX: KM1) has reported a significant expansion of its gold anomaly at the Marble Bar Gold-Lithium Project in Western Australia. The gold-in-soil anomaly trend has increased by 80%, now measuring a coherent 9.5 km strike length following the assay results of 619 historical soil samples.
Exciting Gold Findings
Kali Metals’ latest exploration efforts have found promising results from its current focus areas, with the Tiger and Sherman Prospects revealing gold-bearing quartz veins on the surface. These veins range up to 7m in width and 120m in length, with surface assay results showing grades as high as 4.0 g/t gold.
Paul Adams, Managing Director of Kali Metals, shared his optimism regarding the results, stating, “The cumulative length of the anomaly is exciting at 9.5 km, and so far, we have mapped only 10% of that length in the field. The trend of the main soil anomaly matches the orientation of discovered quartz veins already recorded at both the Tiger and Sherman Prospects, giving us confidence in the soil results.”
Future Plans and Focus Shift
As the company moves forward, it plans to recommence fieldwork and ground-truthing of the soil anomaly within the first quarter of 2025 to identify potential drill targets. In light of these promising developments, Kali Metals is shifting its primary focus towards gold exploration, although lithium will remain a significant area of interest.
The Marble Bar Project, with a total area of 42 km², is located about 30 km east of Marble Bar and includes key geological formations essential for gold and lithium potential.
Lithium Exploration Update
In addition to gold exploration, initial results from the Panther Lithium Prospect have revealed channel samples returning grades of 0.14% Li₂O and 0.48% Li₂O. The findings justify the continuation of lithium exploration activities in the prospect.
Kali Metals remains committed to generating shareholder value by exploring and developing its mineral resources. The company’s focus on both gold and lithium highlights a strategic approach to its operations in Western Australia.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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