Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The first rush assay results from Tearlach Resources’ (TSXV: TEA) initial drilling program on the Gabriel lithium project in Nevada have confirmed a discovery last year by Blackrock Silver (TSXV: BRC) at grades up to 85% higher than first thought.
Tearlach’s core drill holes delivered grades ranging from 40-85% higher than the corresponding original reverse circulation intercepts Blackrock drilled, which expanded the mineralized zone at the project.
The results from the first five out of 11 drill holes show grades higher than 1,000 parts per million (ppm) lithium, held in thick mineralized zones, Tearlach said in a news release Tuesday.
The company reported the highest primary intercept of 802 ppm over 18.6 metres in hole 018. The highest grade for an included intercept is 1,196 ppm over 10.1 metres, including 1,460 ppm lithium in hole 012.
Gabriel is in west central Nevada along the emerging Tonopah lithium belt, abutting American Lithium’s (TSXV: LI; US-OTC: LIACF) TLC discovery of April 2019.
American Lithium’s TLC and American Battery Technology’s (US-OTCQB: ABML) Tonopah Flats projects, also on the Tonopah lithium belt, have emerged as globally significant deposits.
