Six Sigma Metals fortifies ‘new world’ metals portfolio with lithium and vanadium acquisitions
Date: May 17, 2018
Formerly Botswana Metals, Six Sigma Metals (ASX: SI6) has emerged from a trading halt with news of highly prospective lithium and vanadium–titanium acquisitions in Zimbabwe, as part of its strategy to strengthen its foothold in the battery minerals sector.
The company has taken advantage of the new mining-friendly establishment in Zimbabwe to lock-in a “first mover advantage” and earn an 80% stake in the lithium-rich Shamva project north of Zimbabwe’s capital Harare and the Chuatsa vanadium-titanium project in Zimbabwe’s far north.
Shamva lithium project
Shamva comprises three main deposits, which Six Sigma Metals non-executive director Josh Letcher describes as “walk up ready drill targets”.
Mr Letcher said the Shamva project totals 20 square kilometres with “significant” lithium outcrops throughout.
The project hosts three main lithium deposits with one prospective for spodumene and the other two containing lepidolite.
Mr Letcher told Small Caps 73 rock chip samples had recently been collected, with analysis revealing lithium grading up to 3.40% and numerous other samples grading above 1% lithium.
The assays confirm historic reports which have noted spodumene and lepidolite mineralisation at several prospects across the project including old workings.
Location of the Shamva lithium project and Chuatsa vanadium-copper-titanium project.
Mr Letcher said that once diligence has been finished, the company plans to fast-track exploration across the project.
Initial drilling at Shamva will test mineralisation at depth to determine the thickness and strike-length of the pegmatites where lithium mineralisation was identified at surface.
Mr Letcher said a second infill drilling campaign will then be carried out to calculate a JORC-compliant resource.
The other project Six Sigma is picking up is the Chuatsa vanadium asset, which encompasses 12sq km and has applications pending for a further 8sq km.
Similar to Shamva, Chuatsa has been subjected to historical exploration during 1962 and 1964. The owner at the time Anglo America Prospecting submitted samples for analysis which revealed up to 7.8% titanium dioxide, 0.8% vanadium pentoxide and 0.38% copper.
