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Marquee Resources

Airborne Magnetic And Radiometric Survey Begins At WSP

Marquee Resources Limited (“Marquee” or “the Company”) (ASX:MQR) is pleased to provide an update to the market regarding the ongoing exploration activities at the West Spargoville Project (“WSP” or “Project”). The WSP Project is a JV between Marquee Resources (75%) and Mineral Resources Limited (ASX:MIN) (25%).

The Company has engaged Thomsons Airborne Pty Ltd to complete a 2,258 line-km airborne magnetic and radiometric survey over the Project extents, with the survey expected to commence on the 14th of September. The aim of the geophysical survey is to map in high-resolution geophysical anomaly patterns related to structures and stratigraphy that could host potential lithium bearing pegmatites. Following the completion of a 37,843m reverse-circulation (RC) and aircore (AC) drilling campaign in Q4-2022, the Company and Mineral Resources geologists have been busy interpreting and modelling the data to delineate priority targets for follow-up work. The acquisition of high-resolution geophysics will greatly enhance the understanding of the subsurface and guide the planning of the next drill campaign.

Following completion of the airborne magnetic and radiometric survey and processing of the geophysical survey data, the Company, in conjunction with Mineral Resources Limited (ASX:MIN), will provide an update with future work plans.

Executive Chairman Comment:

Marquee Executive Chairman, Mr Charles Thomas, commented:

“The Marquee and Mineral Resources teams have been working diligently together to try and uncover the next lithium deposit in one of the world’s premier lithium districts. This airborne magnetic and radiometric survey will assist the teams in gathering valuable information on the WSP Project and help generate further targets for our next drilling campaign.”

The West Spargoville Project

The West Spargoville Project is located in the core of the Southern Yilgarn Lithium Belt, an area that is well known for spodumene deposits that include; the Bald Hill Mine, the Mt Marion Mine, the Buldania Project and Essential Metals Pioneer Dome Project. Marquee and Mineral Resources entered into a JV agreement earlier this year over the lithium rights at the West Spargoville Project (refer ASX Release dated 09 June 2023).

Figure 1: Airborne magnetic and radiometric survey plan – WSP E15/1743

Click here for the full ASX Release

This article includes content from Marquee Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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