Lithic Metals&Energy: Additional Nickel Mineralisat | Company Announcements

Friday 12 December, 2008

Lithic Metals&Energy

Additional Nickel Mineralisat

RNS Number : 0303K

Lithic Metals and Energy Limited

12 December 2008

Lithic Metals and Energy

('Lithic' or 'the Company')

Additional Nickel Mineralisation Identified, Togo

Highlights

Additional shallow nickel mineralisation from Kpoté prospect test pitting
Intersections include 4m @ 2.27% Ni, 12m @ 1.30% Ni, 7.4m @ 1.44% Ni and 10m @ 1.41% Ni
Additional nickel mineralisation encountered at nearby Mt Haito prospect

Lithic Metals and Energy (AIM:LMY) today announce analytical results from test pitting at its Kpoté and Haito nickel prospects, Togo.

The Company has now completed test pitting across the Kpoté hill prospect, where it has defined nickel mineralisation over a strike length in excess of 1.5 kilometres and open at depth. Elevated nickel values trend towards the north beneath a blanket of laterite cover, through which test pitting has proved ineffective due to depth of penetration limitations of the method.

At the nearby Mount Haito prospect, broadly-spaced test pitting has also encountered shallow nickel mineralisation over a 2 kilometre strike length. Weathering of ultramafic lithology, the essential process required to enhance nickel values, appears to be less pronounced at Mount Haito than that observed at Kpoté, possibly explaining the typically lower nickel values encountered in pitting.

A table of significant pit intersections is presented below.

Commenting on these results, Lithic Managing Director Jim Kerr said 'The results from this batch of test pitting that concluded in August, builds on the positive nickel values generated from earlier pitting at Kpoté and Haito. We look forward to results of an additional regional test pitting programme already completed on other prospective nickel targets within the project area. We aim to demonstrate the widespread nature of nickel saprolite mineralisation across a number of prospects at the Haito project.'

For more information, please visit our website www.lithicme.com

Jim Kerr, Lithic Metals & Energy	Tel: +61 8 9322 5804
David Youngman / Katy Mitchell, WH Ireland Limited	Tel: +44 (0)161 832 2714
Laurence Read / Beth Harris, Threadneedle Communications	Tel: +44 (0)20 7653 9850

Table 1: Kpoté and Haito Prospect Test Pitting Intersections

Pit Number	Total Depth	UTM EAST (Zone 31N)	UTM NORTH (Zone 31N)	RL	Intersections
Pit Number	Total Depth	UTM EAST (Zone 31N)	UTM NORTH (Zone 31N)	RL	Nickel %	Co (ppm)
Kpoté Test Pits
HKP050	10.2m	268,868	801,014	416	6m @ 0.55% Ni from 4.2m	260
HKP051	4.7m	268,375	801,231	506	4.7m @ 2.27% Ni from 0m including 3m @ 3.12% Ni	256	*
HKP052	7.6m	268,353	801,313	478	7.6m @ 0.60% Ni from 0m	127	*
HKP053	7.3m	268,448	801,314	503	5m @ 0.67% Ni from 1.3m	96
HKP054	2m	268,451	801,238	512	No significant results
HKP055	12.2m	268,059	800,674	477	No significant results
HKP056	6m	268,212	801,056	507	6m @ 0.81% Ni from 0m	313	*
HKP057	10.9	268,891	801,789	384	No significant results
HKP058	3.8m	268,068	801,058	475	2m @ 0.67% Ni from 1.8m	410	*
HKP059	5.5m	269,191	801,481	383	No significant results
HKP060	8.9m	269,119	801,861	372	4m @ 0.90% Ni from 2.9m	873
HKP061	8.3m	269,251	801,698	372	3m @ 0.84% Ni from 5.3m	830	*
HKP062	9.2m	268,732	800,891	426	No significant results
HKP063	11.5m	267,905	801,034	452	4.5m @ 0.57% Ni from 0m	191
HKP064	5m	269,233	801,970	366	2m @ 0.67% Ni from 1m	810
HKP065	6m	269,323	801,769	369	No significant results
HKP066	5.2m	267,776	800,908	425	No significant results
HKP067	9.8m	267,912	800,904	485	3m @ 0.61% Ni from 3.8m	213	*
HKP068	1.2m	269,480	802,140	356	No significant results
HKP069	11.8m	268,052	800,800	507	9m @ 0.82% Ni from 1.8m	837
HKP070	9.8m	267,857	800,578	406	No significant results
HKP071	12m	268,110	800,610	459	12m @ 1.30% Ni from 0m	233	*
HKP072	11m	268,205	800,812	495	7m @ 1.03% Ni from 4m	257	*
HKP073	12m	268,581	801,390	502	12m @ 1.14% Ni from 0m	1,732	*
HKP074	12m	268,672	801,380	499	12m @ 0.82% Ni from 0m	188	*
HKP075	7.6m	268,765	801,475	470	No significant results
HKP076	7.6m	268,179	801,175	462	5.6m @ 0.96% Ni from 0m	356
HKP077	5.8m	268,368	801,066	513	4m @ 0.73% Ni from 1.8m	605	*
HKP078	12m	268,396	801,183	515	11m @ 1.06% Ni from 1m	2,495	*
HKP079	12m	268,262	801,090	506	12m @ 1.08% Ni from 0m	598	*
Haito Test Pits
HHP007	8	274,399	796,530	285	3m @ 0.58% Ni from 3m	520
HHP008	6.2	274,600	796,529	279	1m @ 0.55% Ni from 2.2m	590
HHP009	4	274,600	796,929	277	No significant results	170
HHP010	4.8	274,059	798,151	459	1m @ 0.53% Ni from 1m	185	*
HHP011	4	273,958	798,153	475	4m @ 0.62% Ni from 0m	293	*
HHP012	12.2	273,962	798,251	495	12.2m @ 0.72% Ni from 0m	250	*
HHP013	6	273,956	798,353	492	6m @ 0.64% Ni from 0m	425	*
HHP014	12	274,056	798,356	482	12m @ 0.76% Ni from 0m	192	*
HHP015	5.9	274,068	798,255	473	5m @ 0.79% Ni from 0.9m	178
HHP016	11.5	274,059	798,054	442	4m @ 0.68% Ni from 1.5m 2m @ 0.71% Ni from 9.5m	170 155	*
HHP017	4.9	273,961	798,055	440	3.9m @ 0.96% Ni from 0m	143
HHP018	9.5	274,150	797,900	364	2.25m @ 0.56% Ni from 1.25m	176
HHP019	3.1	273,940	797,898	400	No significant results
HHP020	1.8	273,747	797,899	431	No significant results
HHP021	3.5	273,551	797,899	416	No significant results
HHP022	12	274,150	797,900	364	5m @ 0.63% Ni from 0m	194
HHP023	2.3	273,948	797,715	402	2.3m @ 0.61% Ni from 0m	157	*
HHP024	3	273,761	797,730	399	No significant results
HHP025	5.8	274,150	797,731	340	2.8m @ 0.56% Ni from 0m	164
HHP026	8.5	274,603	797,329	294	No significant results
HHP027	11.6	274,404	797,333	297	1m @ 0.73% Ni from 0.6m	510
HHP028	6.2	274,203	797,331	301	1.2m @ 0.68% Ni from 0m	500
HHP029	10.7	274,003	797,329	304	8.7m @ 0.70% Ni from 0m	253
HHP030	9.6	273,800	797,330	306	5.6m @ 0.75% Ni from 0m	422	*
HHP031	6	273,600	797,330	306	1m @ 0.62% Ni from 2m	400
HHP032	4.35	273,400	797,330	308	1m @ 0.61% Ni from 1.35m	710
HHP033	5.75	273,200	797,330	319	1m @ 0.78% Ni from 0m	810

*Denotes pitting ended in >0.5% Ni grades

Notes:

1. Nickel analyses completed by ALS laboratories Perth, Western Australia by ME XRF-12 borate flux method.

2. Intercepts calculated as a weighted average using >0.5% Ni values and a maximum of 2m internal waste, minimum width 1m

3. Cobalt values reported as a weighted average value over the corresponding reported nickel intersection.

The information in this report that relates to Exploration Results is based on information compiled by Managing Director Jim Kerr (BSc Geol, MSc Min Econ, MSEG). Mr Kerr, a full-time employee of Lithic Metals and Energy is a Member of the Australasian Institute of Mining and Metallurgy and is a Competent Person as defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Kerr consents to the circulation and inclusion in the report of the matters based on the information in the form and context in which it appears.

This information is provided by RNS

The company news service from the London Stock Exchange

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