Dakota Minerals - Lynas Find and Northern Portugal Lithium Projects Update

Dakota Minerals - Lynas Find and Northern Portugal Lithium Projects Update

Dakota (ASX:DKO) has finished Stage 2 RC drilling at the Lynas Find lithium project in WA, with analysis due mid-July. A short diamond programme was also done for metallurgical test-work over the next couple of months to inform a maiden resource estimate on Lynas Find in Q3. At the company's Lusidakota lithium projects in Northern Portugal, initial rock-chip sampling and auger work has been done in 1 of 3 project areas, with results due late July and target definition to be accelerated in mid-August.


Highlights:

Lynas Find Lithium Project

  • Phase Two reverse circulation (RC) programme successfully completed
  • Analysis of RC samples expected to be complete by mid-July
  • Short diamond drilling programme for metallurgical test-work also completed
  • Metallurgical test-work programme expected to take up to 9 weeks to complete
  • Maiden resource estimate at Lynas Find expected during Q3 2016
  • Regional drill target definition work to continue in the coming months

Northern Portugal (Lusidakota) Lithium Projects

  • Initial rock-chip sampling and auger work completed in one of three project areas
  • Results from initial sampling work expected late July
  • Accelerated, comprehensive drill target definition programme to commence in mid-August 2016

Dakota Minerals Limited (“Dakota”, “DKO”, or “Company”) is pleased to announce an update of progress at its Lynas Find lithium project, in the Pilgangoora region of Western Australia, and at its Northern Portugal (Lusidakota) lithium projects.

Phase two of the reverse circulation (RC) drilling at Lynas Find is now complete. 36 holes for 3,423m were drilled in total, concentrating on resource definition at Lynas Find Central, with some additional testing of pegmatites proximal to this area. Most samples have now been dispatched to Nagrom Laboratories in Perth for analysis, which is expected to be completed around mid-July. A short diamond drilling programme (two holes for 100m total) was also completed, to obtain metallurgical and structural data to be utilised in the upcoming resource estimation at Lynas Find. The metallurgical test-work using the diamond drill core will be conducted at SGS Laboratories in Perth. A maiden resource is expected to be announced at Lynas Find during Q3 2016. Drill targeting work will continue during this time, to continue to grow the Lynas Find project.

Following the acquisition of its Northern Portugal (Lusidakota) projects, Dakota has already commenced exploration activities in the Barroso-Alvão region, within granted tenement MNPP04612 (“Sepeda” prospect). Works included rock-chip sampling in areas of historic mine workings, and shallow auger drilling over an area of historic tailings. The results of this work are expected in late July. An accelerated drill target definition campaign is due to then commence in mid-August. Across the Lusidakota project areas, work consisting of detailed mapping and comprehensive sampling of outcropping pegmatites will continue. The aim of these works is to commence drilling the highest priority spodumene/petalite-bearing pegmatite targets as soon as possible.

Lynas Find Lithium Project

Dakota’s Lynas Find lithium project, to which Dakota has 100% rights, is located on and in the vicinity of an extensive lithium-tantalum bearing pegmatitic dyke swarm. Peer activity in the immediate area known as Pilgangoora, includes Pilbara Minerals Limited (ASX:PLS) and Altura Mining Limited (ASX:AJM), which have both discovered significant lithium and tantalum resources in recent times. Pilbara Minerals has identified a total Indicated and Inferred resource of 80.2Mt @ 1.26% Li2O and 32.9Mt @ 0.022% Ta2O5. On a neighbouring property, Altura Mining has identified an Indicated and Inferred resource of 35.7Mt @ 1.05% Li2O. Following recent exploration activity, the Pilgangoora area has been confirmed to contain one of the world’s largest hardrock lithium deposits, mostly in the form of the mineral spodumene.

Northern Portugal (Lusidakota) Lithium Projects

Dakota’s Lusidakota lithium projectsin Northern Portugal, to which Dakota has 100% rights through its binding agreement with Lusorecursos LDA, are located over three broad districts of pegmatitic dyke swarms, which contain spodumene and petalite-bearing pegmatites. The three main districts are the Serra de Arga, Barroso – Alvão and Barca de Alva pegmatite fields, all three of which are highly prospective for lithium mineralisation. The Lusidakota tenement package consists of eight exploration licences (one granted and seven under application). Portugal is the only producer of lithium in Europe, which currently consists of small-scale production focused on the ceramics industry.

ENDS

To view the full announcement, please click here.

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