The first rush assay results from Tearlach Resources’ (TSXV: TEA) initial drilling program on the Gabriel lithium project in Nevada have confirmed a discovery last year by Blackrock Silver (TSXV: BRC) at grades up to 85% higher than first thought.
Tearlach’s core drill holes delivered grades ranging from 40-85% higher than the corresponding original reverse circulation intercepts Blackrock drilled, which expanded the mineralized zone at the project.
The results from the first five out of 11 drill holes show grades higher than 1,000 parts per million (ppm) lithium, held in thick mineralized zones, Tearlach said in a news release Tuesday.
The company reported the highest primary intercept of 802 ppm over 18.6 metres in hole 018. The highest grade for an included intercept is 1,196 ppm over 10.1 metres, including 1,460 ppm lithium in hole 012.
Gabriel is in west central Nevada along the emerging Tonopah lithium belt, abutting American Lithium’s (TSXV: LI; US-OTC: LIACF) TLC discovery of April 2019.
American Lithium’s TLC and American Battery Technology’s (US-OTCQB: ABML) Tonopah Flats projects, also on the Tonopah lithium belt, have emerged as globally significant deposits.
“With Tearlach’s team seeing many similarities, Gabriel could quickly advance to a similar state of development with a resource planned by year-end,” Tearlach CEO Morgan Lekstrom said in a release. “The recheck assay program is a simple solution developed in collaboration with our resource modellers and geologists that allow us to utilize the BRS program in our resource modelling, low-cost, high-impact work.”
Tearlach holds an option to acquire, in two stages, up to a 70% interest in the lithium in specific unpatented mining claims forming a portion of Blackrock’s Tonopah North project.
Blackrock said in a separate statement that Tearlach’s step-out drilling had expanded the footprint of mineralization across a general area of 1.5 x 2.75 km and delivered the highest-grade intercepts yet.
Assays for the remaining six drill holes from this first phase program are pending.
Tearlach reports that an initial resource estimate is on track for completion later this year.
Despite rising 13% on Tuesday to 34¢ per share, Tearlach’s equity is up a respectable 36% over the past 12 months. However, it shot up by 900% to reach $2.55 in January. It has a market cap of $28.5 million.
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