Geophysical Survey Results

 

TIDMLMY 
 
RNS Number : 2347R 
Lithic Metals and Energy Limited 
28 April 2009 
 

 
 
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: [phone]  | 
+-----------------------------------------------+-----------------------+ 
| Katy Mitchell, WH Ireland Limited             | Tel: [phone]   | 
|                                               | 2714                  | 
+-----------------------------------------------+-----------------------+ 
| Laurence Read / Beth Harris, Threadneedle     | Tel: [phone]   | 
| Communications                                | 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. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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