E29/994 Two Tanks

BOA Resources Two Tanks lithium project (E29/994) is located 570km north-east of Perth, Western Australia in the emerging lithium region of Mt Ida.

BOA Resources has an 80% working interest in the project.

Drilling at Two Tanks was conducted in the first half of 2024.

Geochemical analysis of samples indicates fractionated pegmatitic units exhibiting potential for lithium mineralisation at depth.

The 18 hole air core drilling program drilled 1,296m and multi-element assays confirm a consistent degree of fractionation, as indicated by the K/Rb ratio, with most units showing a ratio of below 40, consistent with a fractionated pegmatitic unit.

The drilling campaign at Two Tanks also investigated the positioning and characteristics of the Copperfield Granite contact, with several holes designed to intersect and drill past the contact. The targeting was successful in defining and characterising the contact to a prospect level accuracy and will aid in future drill hole planning.

Due to the lack of multiple pierce points within the same pegmatitic unit, no inference can be made about the downhole trends of fractionation or Li grade. At this stage the drilling has not produced a clearly defined trend.

Establishing depth trends to pegmatite fractionation and potentially Li grades will be a key part of the future strategy of exploration at Two Tanks.

New lithium province

The area around Two Tanks is emerging as a new lithium province with significant developments along a prospective zone of approximately 35km strike length. This corridor has two significant lithium potential as evidenced by Red Dirt Metals’ Mt Ida lithium project with a mineral resource of 12.7Mt @1.2% LiO_2. Work by St George Mining is firming up the prospectivity of the corridor and more importantly has determined that the same lithium bearing pegmatites may extend within E29/994.