Kali Metals higher on expanding Marble Bar gold-in-soil anomaly 80% to 9.5 kilometres

Tue Jan 21 2025

Kali Metals Ltd has opened higher after leveraging assays of 619 historical soil samples from the Marble Bar Gold-Lithium Project in Western Australia to highlight the true size of a gold-in-soil anomaly on the tenure, expanding it by 80% to 9.5 kilometres. At present, less than one kilometre of the sizeable gold-in-soil anomaly has been mapped in the field, with reconnaissance identifying two prospects – Tiger and Sherman.

The gold-bearing quartz veins at these two prospects measure up to 7 metres in width and 120 metres in length, grading up to 4.0 g/t gold at surface. Investors have warmed to the news with shares as much as 21.8% higher in early ASX trading to $0.14.

Shifting focus to gold

“We are extremely pleased with the gold soil sample assay results,” Kali Metals managing director Paul Adams said. “The cumulative length of the anomaly is exciting at 9.5 kilometres, and so far, we have mapped only 10% of that length in the field.

“The trend of the main soil anomaly matches the orientation of discovered quartz veins already recorded at both the Tiger and Sherman Prospects, giving us confidence in the soil results.

“Now that the Christmas break is behind us, we are scheduled to recommence the field work and continue ground-truthing the entire soil anomaly during Q1 2025. This is expected to identify and define potential drill targets.

“In light of these promising results, Kali is shifting its primary focus at Marble Bar to gold exploration, with lithium remaining an important but secondary focus.” Apart from the promising indications of gold potential at Marble Bar, KM1 also cut two trench channels across the main pegmatite outcrop at the Panther Lithium prospect, returning results with average grades of 0.14% lithium and 0.48% lithium.

Source: https://www.proactiveinvestors.com.au/