Capital Mining starts next exploration phase at Irish lithium projects

26 March 2017 (Last Updated March 26th, 2017 18:30)

Capital Mining has started the next phase of exploration at its Wolfhound Lithium Projects in the Republic of Ireland.

Capital Mining has started the next phase of exploration at its Wolfhound Lithium Projects in the Republic of Ireland.

The first exploration programme conducted at the site identified lithium-bearing pegmatites at the priority Ballon (PL 2930 & PL 2931) and Borris (PL 3559, PL3211 & PL 1597) prospects.

Assay results from the first phase included high-grade 2.47% Li2O rock chip assay at the Borris Prospect.

Positive results of the maiden exploration campaign motivated the company to start a more detailed exploration programme at the property to define drilling targets at the region. The drilling campaign is expected to start in the next quarter.

Wolfhound managing director Thomas Corr said: "To be confidently back out in the field is a significantly encouraging step so early in the Wolfhound Project’s exploration cycle.

"To be confidently back out in the field is a significantly encouraging step so early in the Wolfhound Project’s exploration cycle."

"After a highly positive first pass exploration programme which confirmed the project area’s potential to host additional lithium-bearing pegmatites of significant economic value, the company is eager to expedite works immediately and lay the foundations for the maiden drilling programme at Wolfhound."

In the second phase, the company intends to perform a systematic geochemical sampling programme, including further rock chip and soil sampling, from the higher grade areas.

The exploration campaign will also include an extensive ground magnetometer survey.

Last year, Capital Mining acquired the Wolfhound Lithium Project from Wolfhound Lithium Limited. The site is understood to contain lithium-rich spodumene-bearing pegmatites.

The project includes an area of 270km² and is situated in the highly prospective Leinster Granite in the south-east of Ireland.