Boadicea thinks Two Tanks is a top-tier lithium opportunity

It’s been just three months since Boadicea acquired 80% of the Two Tanks Lithium project. A recent reverse circulation drilling campaign intersected pegmatites in 15 of 20 holes. Assays should hit the desk between late July and early August.

Boadicea Managing Director Jon Reynolds says he’s eager to see some definitive results.

The drilling at Two Tanks was a 20 hole RC program testing for known pegmatites that have been identified at the surface through geological mapping. Of the 20 holes, 15 intersected pegmatites of various thicknesses.

“We don’t have assays available yet, but we anticipate the assay results in late July early August. This provides our first look at the Two tanks lithium prospectivity and the intersection of pegmatites in drill intersections is the first positive step,” Jon Reynolds says.

The Mt Ida region is proving to be highly prospective for economic scale pegmatite hosted lithium deposits. Almost 18km to the south of Two Tanks is the Mt Ida deposit with 12Mt @1.2% Li2O which is being developed by Delta Lithium.

“This provides critical evidence of economic potential grade along the Copperfield granite contact, which Two Tanks has within the tenement.

“Additionally two additional works creating news from the region include the adjacent Jailbreak prospect being drilled by St George Mining. They have recently completed an RC program adjacent to the Two Tanks tenement and they are awaiting the assays from that program. They have released some assays and they provide evidence the pegmatites are fertile for lithium,” Jon Reynolds says.

More recently Hawthorn Resources and Hancock Prospecting have announced a JV arrangement whereby Hancock is spending $4 million for a 7.5% stake in the non-ferrous metals, including lithium.

“These all add up to a very active region for lithium exploration and Boadicea is right in the middle of this.”

The current drilling at Two Tanks is the first stage of ‘low hanging fruit’ exploration within the tenement. This drilling has only tested one-third of the prospective parts of the Two Tanks tenement.

“At the same time as the drilling we completed a geochemical survey for the northern half of the tenement. This is the precursor to drill testing of ‘hidden’ pegmatites under shallow cover.

“We look forward to releasing the assay results from both the drilling and the geochemical program as soon as they become available,” Jon Reynolds says.