Delta Lithium Limited: Company Update and First Jameson Result

Perth, Australia - Delta Lithium Ltd. (ASX:DLI) is pleased to announce an update for the ongoing exploration activities at its Lithium Project at Yinnetharra in the Gascoyne region of Western Australia and the Mt Ida Project in the Goldfields Region of Western Australia.

The maiden drilling program at Jameson kicked off in late March 2024 utilising an RC rig. Initial drilling results are very positive with coarse, clean spodumene within pegmatite visible in RC chips. The assay results from the initial hole support the identification of the spodumene.

Infill drilling at the Malinda Prospect continues to demonstrate quality lithium intercepts from surface with the dominant lithium bearing mineral being spodumene. The two holes highlighted above YRRD471 and JREX002 represent the two best intercepts to date at Yinnetharra.

Commenting on the results Managing Director, James Croser said;

"Malinda continues to provide us with excellent lithium results that confirm our existing resource and build our confidence in the geology. Particularly a very wide intercept in YRRD471 which will add significant lithium metal to an important part of the M1 resource.

The first hole assay results from the Jameson Prospect JREX002 has delivered fair reward for the Team's effort, with some of the coarsest visual spodumene seen to date at Yinnetharra over a very wide downhole interval, and individual assays in excess of 4% Li2O."

Yinnetharra Exploration

The Yinnetharra project is an early-stage exploration project in the Gascoyne region of Western Australia targeting Lithium mineralisation. Delta Lithium has 1,769km2 of tenure owned outright and as Farm-in Joint Ventures. A maiden MRE was released in December 2023 of 25.7Mt @ 1% Li2O . The recently executed Farm-In Joint Venture Agreements have expanded the prospective stratigraphy to over 80km in length.

The Company is actively exploring at the Yinnetharra Project with four drill rigs currently operating at Malinda, 1 rig operating at Jameson and multiple field teams undertaking geological mapping and surface sampling in order to further define target prospects.

The maiden drill result from the Jameson prospect is very encouraging. Lithium anomalism at Jameson is present as a coherent soil geochemistry anomaly >150ppm Li2O approximately 600m long. Drilling orientations at Jameson were chosen to intercept the regional trend of stratigraphy in a perpendicular manner.

Visual logging of the RC chips indicates spodumene is the only Li bearing mineral phase observed to date (Figures 3 & 4*), with the remainder of the pegmatite composed of quartz, feldspar, and minor apatite and beryl. Assay results support this observation.

Geological interpretation of the area is ongoing with more information becoming available through drilling and mapping. Orientations of mineralised pegmatite are not known at this stage, this drilling intercept reported may be oblique to the dip and dip direction of the mineralised pegmatite and not indicative of the true width of mineralisation.

Drilling is ongoing at Jameson, further results will be released in due course.

Drilling completed to date at Malinda has demonstrated quality lithium intercepts from surface with the dominant lithium bearing mineral being spodumene. Recent highlights can be seen below in Table 1* and Figure 5*, with a full list of recent results in Appendix 3*. Along strike extensions to M36 have been found as well as up dip extensions of M47 as indicated in Figure 5*.

Lithium resources are largely present in 3 main pegmatites at Malinda from surface to a depth of >300m.

Metallurgical test work is ongoing with initial results demonstrating the potential for high recovery of spodumene to high grade low impurity concentrates.

Mt Ida Update

The Mt Ida project is a "shovel ready" permitted lithium and gold project in the Goldfields region of Western Australia with lithium and gold JORC resources defined (Figure 6* below). A Lithium MRE was released in September 2023 of 14.6Mt @ 1.2% Li2O (refer to Appendix 1*). A Maiden gold resource of 3.1Mt @ 4.1 g/t Au for 412koz Au was released in October 2023 (Appendix 2*).

Delta is progressing multiple options to monetise the gold assets at Mt Ida in conjunction with remodelling and optimising the resources, and advancing open pit and underground mining studies.

A significant amount of near surface high grade gold was discovered and defined by Delta in 2023 (Figure 7*). The Baldock 086 lode (Sister Sam Open Pit) has a current resource of 0.24Mt @ 9 g/t Au for 70koz Au, whilst the Meteor North lode has a current resource of 0.6 Mt @ 4.7 g/t Au for 91koz Au.

The Baldock 086 Lode has been grade control drilled to a nominal 10m x 10m spacing. As part of this preparatory work a comprehensive metallurgical test work program has been undertaken and results received covering the Baldock 086 Lode, which is contained within the volume of the fully permitted Sister Sam Open Pit, as yet unmined. A total of 74 spatial variability samples were selected throughout the Baldock 086 lode and tested to understand gold recovery and reagent consumption using Mt Ida site water. From these samples 3 master composites based on ore types were created; an oxide master comp IM2078, a transitional master comp, IM2079 and a fresh master comp IM2080.

Gold extraction rates for each composite ore type are tabulated below in Table 2. A range of 91.4-99.7% recovery was achieved in an 8hr residence time, with 44-63% of the gold able to be recovered with a gravity circuit. Cyanide consumption was very low for the master composites ranging from 0.5-1.25 kg/t. Copper grades ranged from 502-1,110ppm and returned expected low cyanide solubilities.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/M0R6DH66

About Delta Lithium Limited:

Delta Lithium Ltd. (ASX:DLI) is an exploration and development company focused on bringing high-quality, lithium-bearing pegmatite deposits, located in Western Australia, into production. With a strong balance sheet and an experienced team driving the exploration and development workstreams, Delta Lithium is rapidly advancing its Mt Ida Lithium Project towards production. The Mt Ida Lithium Project holds a critical advantage over other lithium developers with existing Mining Leases and heritage agreements in place. To capitalise on the prevailing buoyant lithium market, Delta Lithium is pursuing a rapid development pathway to unlock maximum value for shareholders.

Delta Lithium also holds the highly prospective Yinnetharra Lithium Project that is already showing signs of becoming one of Australia's most exciting lithium regions. The Company is currently undergoing an extensive 400 drill hole campaign to be completed throughout 2023.

Source:
Delta Lithium Ltd.

Contact:

Delta Lithium James Croser, Managing Director +61-8-6109-0104 info@deltalithium.com.au Investor/Media Enquiries Citadel-MAGNUS Michael Weir +61-402-347-032 Jono van Hazel +61-411-564-969