• Lanthanein Resources granted PoW for drilling at Lady Grey project
• Project near current lithium and historic gold plays
• Plan is for drilling to kick off ASAP

Special Report: Lanthanein Resources has been cleared to drill an exciting target at its Lady Grey project, chasing a gold anomaly prospect adjacent to a 1.3Moz gold mine and one of Australia’s largest and highest-grade lithium operations.

The company has been granted a Program of Work by the WA Department of Energy, Mines, Industry Regulation and Safety for its Lady Grey project to drill test a modelled conductor plate under Moving Loop EM survey Line #6.

While the territory around Covalent Lithium’s Mt Holland mine in the State’s Yilgarn Province swiftly became hot property for white gold through a lithium land rush, the area is a proven producer of more traditional gold ounces.

The historic Bounty gold mine pumped out around 1.3 million ounces where Mt Holland now stands, adjacent to the Lanthanein Resources’ (ASX:LNR)) Lady Grey and Lady Lila prospects.

The MLEM survey Line #6 target is aligned with a surface gold geochemical anomaly coincident with a regional structural zone favourable for hosting gold. 

Notably, the PoW has been granted with no requirement for spring flora and fauna or heritage surveys.

In addition, the company’s PoW application for drilling on MLEM survey Lines #1-3 are progressing with a spring flora and fauna survey now completed and a heritage survey scheduled.

Hunting for historical extensions

The modelled conductor plate under MLEM Line #6 will be drilled from the existing historical access road which links the old Lady Ada mine and the Marvel Loch Forrestania Road.

As the modelled conductor plate is 200m below surface and dips to the east the drill testing will consist of the three RC holes with diamond tails.

“We are very excited to have been granted a PoW to drill the Line #6 conductor plate which coincides with a 75ppb UFF soil gold anomaly plus high order nickel and copper anomalies,” Lanthanein Resources (ASX:LNR) technical director Brian Thomas said.

“We remain confident that the PoW to enable drill testing of the EM conductor plate under MLEM survey line 1 which coincides with the 256ppb gold UFF soil anomaly will be granted soon, along with the requisite heritage survey.

“The Forrestania region is well known historically for significant gold production from the old Bounty Mine producing ~1.3 Moz gold adjacent to the Lady Grey project tenements.”

The company has also recently completed a close spaced aeromagnetic survey on 25 metre line spacings using an Unmanned Airborne Vehicle (UAV).

The area covered by the survey provides coverage of a gap between two open file aeromagnetic surveys plus give closer spaced coverage over the MLEM Line #1 modelled conductor plate.

Bounty is located on the tenement package which hosts Wesfarmers and SQM’s Mt Holland lithium mine, one of the largest mineral discoveries this century in Western Australia.

The 1.3Moz Bounty sits along strike from Lady Grey to its south.

It is also not far from the operating Southern Cross Gold Operations and Marvel Loch processing plant and recently mothballed Forrestania nickel mines.

This article was developed in collaboration with Lanthanein Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.