Tambourah stalks its biggest prey: Hard rock lithium in the Pilbara

Tambourah shares on the ASX quickly climbed more than 50% following the company’s latest quarterly report
The explorer will continue to circle hard rock lithium opportunities in the Pilbara
Exploration strategies incorporate historic tin and tantalum hunting grounds
The company is currently undertaking lithium sampling over a 4km trend south of Nullagine

Shares in Tambourah Metals climbed more than 50% today after the market reacted positively to the company’s continued plans to sniff out hard rock lithium in the Pilbara.

Tambourah Metals’ (ASX:TMB) quarterly report released to the market this week underscored the company’s continued plans to stalk the Pilbara for hard rock lithium, with six new exploration projects under its paw following a deal in July with Minrex Resources.

Tambourah’s plan of action is to search around historic tantalum and tin mines with first pass drilling already completed at the Shaw River and Tambourah Nth targets. Results are expected from 4-6 weeks from now.

Meanwhile, the company is undertaking lithium sampling over a 4km trend at the alluvial tin-tantalum dumps at its 300sq km Russian Jack project, 20km south of Nullagine.

Tambourah shareholders can look forward to results from a recent 2,200m RC drill program carried out at the company’s Tambourah gold project during the quarter just passed.

It comes at a time of buoyancy in the gold market as spot prices came within a whisker of US$2,000/oz this past month – a massive increase in pricing from this time last year.

Tambourah will release gold drilling results from the Worlds Fair target at the company’s namesake project in the next few weeks.

Achilles shows no weakness

Meanwhile, Tambourah is also working to unlock a new district-scale nickel sulphide camp in WA’s Goldfields, about 235km north of Laverton after identifying 22 conductors from detailed electromagnetic (EM) surveys at its Achilles project.

EM surveys map sub-surface changes in electrical conductivity and are a useful tool for finding nickel and copper sulphides, which are often more ‘conductive’ (allow electricity to travel through) than the surrounding rock.

Achilles is about 10km north of Cannon Resources’ 573,000t nickel deposit. The prospective ultramafic geology of that deposit extends for a strike length of 20km within TMB’s project area.

Encouragingly, Achilles is places in the same neighbourhood as Cannon Resources’ nearby 573Kt nickel deposit

Achilles project location map in Western Australia. Pic via Tambourah

Drilling to kick off next year

Tambourah has been selected as one of 36 recipients of the EIS co-funded drilling grants for the 2024 calendar year.

EIS drilling program funds will be used to progress Tambourah’s Achilles project where 3D modelling has demonstrated limited historical drilling failed to intersect the two main drill targets on site – Windidda South and Achilles.

The Government grant – set to co-fund 50% of the planned drilling and mobilisation costs up to a maximum of $180,000 – is designed to support exploration activity in underexplored areas with valid geological methodology.

“We would like to thank the Western Australian Government and the Department of Mines, Industry Regulation and Safety for their continued support of the exploration industry,” TMB executive chairperson Rita Brooks says.

“We are looking forward to commencing exploration at the Achilles Project.”

 

This article was developed in collaboration with Tambourah Metals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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