Print   



Lithic Metals and Energy

('Lithic' or 'the Company')

Mavita Airborne VTEM Geophysical Survey Identifies High Priority Targets for Massive Nickel Sulphide Deposits, Mozambique

Lithic Metals and Energy (AIM:LMY) today announces results from a geophysical survey completed at the Mavita nickel sulphide prospect in Manica province, Mozambique.

Highlights

• Final Report on Mavita VTEM nickel sulphide geophysical survey completed,

• 16 high priority, late-time conductors identified in association with favourable geology and anomalous surface nickel geochemistry,

• Large, shallow, late-time conductor at Rupise North prospect coincides with earlier trenching result of 47m @ 1.46% Ni,

• A total of 70 anomalies identified.

Mavita Prospect, Mozambique 

Earlier exploration at Lithic's Mavita nickel sulphide prospect, which included airborne magnetic and ground IP and EM geophysical surveys, regional geological mapping and geochemical surveys, encountered encouraging signs of nickel mineralisation associated with favourable host rocks.

Following up on this earlier work, a helicopter-borne VTEM geophysical survey was completed over prospective ultramafic lithology. The 1043 line-kilometre VTEM (Versatile Time Domain Electro-Magnetic system) survey was conducted by contractors Geotech Airborne Limited in late 2008, covering approximately 160 square kilometres of the geological units most prospective for nickel sulphides as defined by the earlier aeromagnetic survey and geological mapping. The VTEM system is regarded as the best geophysical technique for identification of concealed massive sulphide deposits. The survey was carried out at a line spacing of 150 meters, station spacing of 2 to 4 metres, and nominal terrain clearance of the 26 metre EM transmitter loop of 47 metres.

The extensive geophysical data collected during the survey has now been processed and interpreted by Lithic's Perth-based geophysical consultants.

Of 70 VTEM anomalies defined, 16 are rated as high-priority targets based on good late-time conductors associated with either mapped or interpreted ultramafic rocks. Lithic's previous work at Mavita has confirmed the presence of thick komatiite sequences comprising serpentinites and other magnesium-rich meta-volcanic rocks in sequences up to 1500 metres thick. Komatiites of similar age, composition, and thickness host world-class massive and disseminated nickel sulphide deposits at Kambalda in Western Australia, and in southern Africa and Canada. 

The high-priority targets are mainly located at the Moussapa West, Rupise West, Rupise North, and Mavita East prospects, where rock-chip and stream sediment geochemical surveys have previously highlighted elevated nickel values.

At Rupise North shallow trenching over a small portion of a significantly larger VTEM anomaly encountered 47m @ 1.46% Ni in manganiferous ultramafic lithology.

A further 18 VTEM anomalies are rated as medium-priority nickel sulphide targets based on geophysical parameters and less-obvious association with known ultramafic rock outcrop.

Commenting on these results, Lithic Managing Director Jim Kerr said 'Our efforts at Mavita have established a very solid exploration platform. We have identified lithology specifically prospective for hosting nickel sulphide deposits, confirmed the presence of nickel sulphide in outcrop at the Moussapa prospect, identified numerous IP and VTEM conductors with associated elevated surface nickel geochemistry and advanced the project to a drill ready status. Consistent with corporate objectives, we are actively seeking a partner to assist us in the development of this exciting nickel sulphide asset.'

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

Or contact

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

About Mavita Project

The Mavita project comprises two granted exploration licenses covering 354km² on the eastern edge of the Achaean Zimbabwe craton, in the Manica province of Mozambique.  The project area was initially targeted by Western Mining Corporation for its nickel prospectivity. Acquired by BHP Billiton through its takeover of WMC in 2005, the Mavita project was farmed out to Lithic under a Memorandum of Understanding in late 2006. Lithic acquired 100% of the project from BHP Billiton in July 2008.

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.

ENDMSCBSGDSLUDGGCR