Accelerate Resources Finds Large Lithium System at Prinsep Project in Western Australia

MT Newswires Live07-18

Accelerate Resources (ASX:AX8) reported a significant lithium pegmatite system from maiden drilling at the Prinsep lithium project within the Karratha lithium project in Western Australia.

Drilling returned near-surface drill intercepts of up to 1.28% lithium oxide, according to a Wednesday filing with the Australian bourse.

The program also discovered a wide low-grade lithium alteration halo, with a true width estimated to be greater than 150 meters and a strike in excess of 1,600 meters.

The team is reviewing the data to help define the next phase of exploration that will focus on the higher-grade lithium zones and further delineate lithium soil anomalies, said Chief Executive Luke Meter.

Accelerate Resources shares were down 13% Thursday.

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