Marquee Resources receives government grant

Marquee Resources (ASX:MQR), along with Joint Venture Partner Mineral Resources Limited, has been awarded up to $220,000 by the Western Australian Government under the Exploration Incentive Scheme (EIS). This funding will support the exploration of potential lithium-caesium-tantalum pegmatite feeder zones at the West Spargoville Lithium Project.

Overview of exploration strategy and objectives

Marquee Resources, in partnership with Mineral Resources Limited, is set to explore the West Spargoville Lithium Project with the support of a $220,000 grant from the Western Australian Government's EIS. The grant will fund the drilling of two 600-meter diamond drill holes targeting gravity anomalies that may indicate deep-seated pegmatite feeder zones. These zones are of high interest due to their potential to significantly enhance the resource base. Previous exploration has identified spodumene with lithium concentrations up to 2.6% Li2O. The company's strategy focuses on proving the existence of these feeder zones, which could transform the project's dynamics. Drilling is expected to commence in early 2024, contingent on approvals. The project, situated in the strategically important Southern Yilgarn Lithium Belt, is being developed under a Farm-in Agreement with Mineral Resources Limited, focusing on lithium rights across an 80 km² area.

Executive insights into exploration funding

We are thrilled to receive this grant under the Exploration Incentive Scheme which will enable us to further explore the potential of significant spodumene deposits at West Spargoville. The findings from this exploration could drastically change the scope of our project.