Widgie Nickel Limited provided assay results from the first 10 RC drill holes from an 18-hole program completed at the Faraday Lithium prospect. Drilling conducted on a nominal 40m x 40m spacing over approximately 175m of strike has identified lithium bearing pegmatite extending beneath a 600-metre surface outcrop measuring up to 25 metres wide. The preliminary RC drilling was conducted to provide an indication of the orientation of the pegmatite and the potential distribution of any associated lithium mineralisation. The pegmatite displays a degree of fractionation common within intrusive rocks and/or multiple events which will require further infill drilling and studies to determine the elemental distribution. The presence of high-grade lithium values indicate the pegmatites have the potential to host a significant economic discovery. Lithium results were prioritised in the assay Laboratory with XRF results pending on all samples submitted. The Mt Edwards Project lithium tenements cover the northern margin of the Widgiemooltha Dome. The region is well endowed with lithium occurrences and includes three major resources at Dome North to the south, Bald Hill (Lithco) to the east and Mt Marion (Mineral Resources Limited /Gangfeng JV) to the north. The Mt Edwards Project lithium tenements have had limited exploration for lithium to date. Specific to the Faraday prospect the pegmatite bodies are a result of a late-stage fractionated intrusive event interpreted
to be located proximal to larger scale granitic intrusion. Coarse grained spodumene has been recorded at multiple surface locations, with the outcrop covering a strike extent of approximately 600 metres in a north-south orientation. The pegmatite outcrop varies in width from 1 metre up to 25 metres. Soil anomalism indicates the intrusive body extends further to the north undercover as supported by sporadic pegmatite outcrops to the north. Interpretation of the RC drilling indicates Faraday is a stacked pegmatite system dipping shallowly at ­25o to the west of widths varying up to 18m in downhole width with minor parasitic veins narrower in thickness and hosted within the Mt Edwards ultramafic suite. The base of weathering/oxidation is extremely shallow, with oxidation and clay minerals observed to a depth of less than 5-10m. Visual spodumene mineralisation is generally pervasive throughout the logged pegmatite body which is supported by the RC drilling assay results. High grade zones of spodumene mineralisation are found concentrated locally within pegmatite veins that suggests further investigation is needed to understand the mineralisation controls. Diamond drilling aiming to twin mineralised intervals, identified from drilling to date, will commence within the next week to obtain samples required for initial metallurgical test work. Further to this, the Company intends to complete a material RC drilling campaign to test the potential of the system
along strike (over 400m of outcrop untested) and at depth. As part of this campaign, infill drilling will be completed to better understand the lithium endowment and controls. Planning is underway to ensure this commences expeditiously in the New Year.