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WA lithium deep dive pays dividends for Dynamic Metals


Dynamic Metals has renewed its focus on its Lake Percy project in WA’s Goldfields region. Credit: File

Dynamic Metals (ASX: DYM) says it has widened a big historical lithium anomaly to 2.5km by 2km at its Lake Percy project in Western Australia’s Goldfields region as part of a “systematic evaluation” of its substantial ground holdings in the State.


The anomaly, which registered a peak lithium oxide value of 314 parts per million, coincides with areas where previous drilling identified thick lithium-rich pegmatites. The Lake Percy project encloses part of the Lake Johnson greenstone belt, about 120km west of Norseman in WA’s Eastern Goldfields.


Dynamic undertook the recent infill and orientation soil sampling program that extended and defined the anomaly at Lake Percy in a bid to confirm the lithium prospectivity of its ground. Its potential was previously highlighted by former tenement holder White Cliff Nickel in a lithium soil sampling program between 2015 and 2016.


Following the establishment of a joint venture (JV) between White Cliff (now known as White Cliff Minerals) and Liontown Resources in 2016, the latter put eight reverse-circulation (RC) holes into the ground, concentrating on the north-west and south-west corners of the former’s lithium anomalism.


While the drilling did not identify any potential ore-grade lithium, it did encounter multiple significant pegmatite intercepts. Two adjacent holes reported pegmatite intercepts of 81m in the south-eastern corner of the White Cliff soil anomaly.


Following its mid-2017 exploration successes at Bynoe Harbour and Kathleen Valley, Liontown withdrew from the JV to focus on other commitments. It resulted in little further work being undertaken on the Lake Percy ground until Dynamic carried out two rounds of drilling last year to explore the nickel potential of the project area.


Its phase one air-core (AC) and RC drilling comprised 102 holes and identified strong nickel potential up to 16m going 1.11 per cent nickel and 645ppm copper from 32m. But more importantly, in the lithium context, some holes also managed to bore through multiple pegmatites that assayed up to 1170ppm lithium (2520ppm lithium oxide).


Following that double success, Dynamic has picked up the lithium cudgel once more and has greatly expanded the previous extent of soil sampling with its program that took 762 samples at 40m intervals along lines spaced between 200m and 400 apart. The lines were oriented perpendicular to the locally-dominant north-westerly greenstone strike.


Management says the program confirms the existence of significant lithium anomalism exceeding 100ppm lithium oxide in the 2.5km-by-2km area, resulting in a virtual doubling of the previously-defined area.


The results from the recent soil sampling program at Lake Percy are very encouraging, and we are looking forward to receiving the analysis of the lithium assay suite to further refine potential drill targets and advance our exploration efforts for lithium at Lake Percy.
Dynamic Metals managing director Karen Wellman

The company is particularly interested in a 2km-by-1km north-eastern area where multiple elongate, coherent anomalous trends conform to the local greenstone strike. Management says samples from selected intervals have been sent for lithium suite analysis to determine the lithium fertility of the pegmatites.


It points out that the northern extension of the Lake Johnston greenstone belt has recently been at the centre of lithium-related discoveries by Charger Metals and TG Metals. The Lake Percy project is close to the Mt Day lithium-caesium-tantalum (LCT) pegmatite and the Earl Grey lithium project that is under development by Covalent Lithium – a JV between industry giants Sociedad Quimica y Minera de Chile (SQM) and Wesfarmers.


In March, Dynamic revealed it had inked a landmark $20 million JV agreement with a 100 per cent-owned subsidiary of mining giant Mineral Resources to sell up to 80 per cent of the lithium rights at its Widgiemooltha project in the Goldfields region.


That deal immediately turned the company’s attention to trying to unlock its potential at Lake Percy and through persistence, its work may well be poised to pay off.


Is your ASX-listed company doing something interesting? Contact: office@bullsnbears.com.au

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