Following the ending of the joint venture with Ord River Diamonds, 100% ownership of the East Kirup lithium-tantalite-tin exploration prospect has decline to Red River Resources Limited As a result Red River is now planning to carry out a 6,000m programme at East Kirup during February-March 2010.
The East Kirup outlook is a lithium-tantalum-tin geochemical anomaly 4km long by up to 1.5km wide that occurs in E70/2435 and which is situated 20km north-northwestward on structural geological trend from the Greenbushes lithium-tantalite-tin mine. The Greenbushes mine is a world class deposit that contains Total Measured, Indicated and Inferred Resources of 25.2 million tonnes of 3.6% Li2O (Talison Lithium Prospectus, 2009) as well as substantial connected tantalite-tin mineralisation. Geochemical sampling carried out by Red River has delineated well-known geochemically anomalous lithium, tantalite and tin over the East Kirup prospect area which is interpreted as a mineralised halo over better mineralisation at depth. The approaching drill program is designed to test that concept and is likely to be followed by a programme of deeper drilling.
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