Cadence Minerals' portfolio company Evergreen Lithium announced initial results from its geochemical programme at its Kenny project in Western Australia. Kenny is located 50km east of Norseman and 17km east of Liontown Resources' Buldania lithium deposit of 14.9Mt @ 0.97% Li2O.
Evergreen said auger drilling resulted in the identification of "significant and widespread lithium" with geochemical anomalies indicating the potential of Lithium Caesium Tantalum (LCT) pegmatites. The lithium miner has identified five priority target zones with Li2O assay results showing max values up to 250 ppm Li2O.
Lithium pathfinders of interest included max values of: 3.54ppm Be, 46.2ppm Cs, 5.17% K,159.00ppm La, 427ppm Rb, and 11.9ppm Ta. Further geochemical analysis is being undertaken to test for other critical minerals, including rare earth elements.
Evergreen said planning for follow-up exploration at Kenny was currently underway.
Cadence Minerals (KDNC ) is Evergreen's largest shareholder with an 8.74% stake. Evergreen listed on the ASX on 11 April 2023.
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A great initial result from Kenny, adding to Evergreen's already highly promising flagship Bynoe project, which served as the basis for the company's A$7m IPO in April 2023.
Geochemical results from the maiden auger programme at Kenny show strong lithium values over a widespread area, and the coincident anomalies in pathfinder elements have identified compelling targets for LCT pegmatites. A follow-up drilling program is in the planning stage.
Evergreen's flagship Bynoe Field is also expected to yield high-grade Li2O as competitor Core Lithium has delineated a JORC mineral resource of 18.9mt at 1.32% Li2O at its immediately adjacent Finniss project. Core Lithium has achieved excellent drilling intercepts at their BP33 prospect of 107 metres at 1.70% Li2O, located within 1 km of the Bynoe project.
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