{"id":3073,"date":"2023-12-12T03:43:23","date_gmt":"2023-12-12T03:43:23","guid":{"rendered":"https:\/\/economicherald.net\/?p=3073"},"modified":"2023-12-12T03:43:23","modified_gmt":"2023-12-12T03:43:23","slug":"pegs-abound-as-reach-resources-unlocks-potential-scale-of-morrissey-hill","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3073","title":{"rendered":"Pegs abound as Reach Resources unlocks potential scale of Morrissey Hill"},"content":{"rendered":"

Reach Resources intersects multiple, thick stacked pegmatites across several targets at Morrissey Hill
\nDrilling also finds previously unrecognised package of the Leake Springs rock sequence at Morrissey Hill South
\nLeake Springs hosts Delta Lithium\u2019s Malinda lithium project and Jamieson lithium prospect
\nRocks previously thought to be found only in the northern third of Morrissey Hill<\/p>\n

\u00a0<\/p>\n

Special Report:<\/em> The intersection of multiple thick, stacked pegmatites across several targets has significantly elevated the potential scale of lithium mineralisation at Reach Resources\u2019 Morrissey Hill project in Yinnetharra, WA.<\/strong><\/p>\n

Morrissey Hill contains the same system of rocks as neighbour Delta Lithium\u2019s (ASX:DLI)<\/a> Malinda project, where numerous hits such as 56m at 1.12% lithium sparked a regional pegging rush.<\/p>\n

Its potential was enough for Reach Resources (ASX:RR1)<\/strong><\/a> to expand its landholding in October through the acquisition of an adjacent mining lease<\/strong><\/a> to lock up more of the prospective pegmatites while providing a quicker route to production.<\/p>\n

More recently, analysis of the Phase 1 drilling<\/strong><\/a> over the Bonzer prospect indicated that while these holes had intersected highly-fractionated and fertile pegmatites indicative of a lithium system, the program could have struck the halo of a higher-grade lithium zone.<\/p>\n

This led the company to launch a Phase 2 reverse circulation drill program to follow the plunge of mineralisation at Bonzer and test other pegmatite targets.<\/p>\n

\u00a0<\/p>\n

Pegmatites found within previously unrecognised area
\n<\/strong><\/h2>\n

RR1 has completed 57 holes totalling 5,282m to date under Phase 2, most of which intersected multiple stacked pegmatites over substantial widths within favourable metasedimentary and lesser mafic volcanic rock types across a number of targets.<\/p>\n

Morrissey Hill pegmatite targets. Pic: Supplied (RR1).<\/p>\n

This includes a previously unrecognised package of the Leake Springs Metamorphics rock sequence, which also hosts DLI\u2019s Malinda lithium project and Jamieson lithium prospect immediately to the east and west of Morrissey Hill, at Morrissey Hill South.<\/p>\n

For RR1, this discovery is hugely significant as the Leake Springs Metamorphics was previously thought to only be present within the northern third of the project.<\/p>\n

Phase 2 drilling is also limited to areas where heritage surveys have been previously completed, and with a focus on testing depth continuity of outcropping pegmatites at the Morrissey Hill and Peggy Sue targets, including limited infill and extensional drilling at the Bonzer prospect.<\/p>\n

\u201cWe are excited that our Phase 2 campaign which has been designed to test new targets to the south of Bonzer has confirmed the presence of multiple thick, stacked pegmatites within a previously unrecognised package of the Leake Springs Metamorphics,\u201d RR1 chief executive officer Jeremy Bower said.<\/p>\n

\u201cThese are the same rock types that host Delta\u2019s Malinda lithium project to our east and the Jamieson lithium prospect to our west.<\/p>\n

\u201cDetailed geological mapping by our geological team identified the area as a potential Malinda \u2018look alike\u2019 with a large number of wide, strike extensive pegmatites occurring within a mixed package of older country rocks, including metasediments and mafic volcanics which we interpret as a previously unrecognised corridor of the Leake Springs Metamorphics.\u201d<\/p>\n

Bower added that confirming an extension of the Leake Sprins package is a major breakthrough in advancing the potential and scale of the opportunity at Morrissey Hill as it is far more favourable for pegmatite fractionation and the development of significant lithium mineralisation.<\/p>\n

\u00a0<\/p>\n

Future activity<\/strong><\/h2>\n

RR1 has identified a pipeline of 33 priority targets that will be methodically evaluated in 2024 once all regulatory approvals have been received.<\/p>\n

Results from this part of the Phase 2 Drilling campaign are expected to be received in early 2024, with all samples already sent to the laboratory for analysis.<\/p>\n

The company expects to complete heritage surveys for Morrissey Hill and Wabli Creek in February\/March 2024, recommence Phase 2 drilling at Morrissey Hill in March\/April 2024 and potentially start Phase 1 drilling at Wabli Creek in April\/May 2024.<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Reach Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n

\u00a0<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Pegs abound as Reach Resources unlocks potential scale of Morrissey Hill<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Reach Resources intersects multiple, thick stacked pegmatites across several targets at Morrissey Hill Drilling also finds previously unrecognised package of the Leake Springs rock sequence [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3074,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nPegs abound as Reach Resources unlocks potential scale of Morrissey Hill - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=3073\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pegs abound as Reach Resources unlocks potential scale of Morrissey Hill - 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