Standout Discovery in Unexplored Territory
The most significant finding from the latest sampling program is the discovery of a new mineralised zone in the previously unexplored northern section of tenement E51/2126. Rock chip sampling returned impressive high-grade gold assays of 11.7 g/t Au and 1.63 g/t Au from this area, demonstrating the untapped potential of the Premier1 Lithium high-grade gold discovery.
These high-grade samples were collected from a sheared mafic unit hosting quartz-carbonate veining south of the granite-greenstone contact – a geological setting conducive to gold mineralisation in the region. In fact, similar high-grade gold discoveries have expanded exploration potential in other Western Australian projects.
Another notable result came from the Mascionis Bore area, where a sample returned 1.0 g/t Au, coinciding with a gold-copper-arsenic soil anomaly that extends over 800 meters, providing a compelling drill target.
Multi-Element Soil Anomalies Enhance Target Confidence
The company's soil sampling program has successfully identified coherent multi-element anomalies, particularly in the northern part of the project area near Mascionis Bore. By combining new data with reprocessed historical datasets, Premier1 has defined a robust gold, copper, and arsenic anomaly consistent with known mineralising systems in the region.
These geochemical footprints provide multiple "walk-up" targets for follow-up exploration and have significantly improved targeting confidence across the project area.
"These latest results strengthen the case for Abbotts North as an emerging gold project. The high-grade rock chips from a previously unexplored area, supported by strong multi-element soil anomalies, point to a compelling geological system," commented Managing Director Jason Froud.
Strategic Location in Proven Gold District
The Abbotts North Project is situated in a historically productive gold belt, just 35km north of Meekatharra. The project lies along interpreted extensions of the same structural features that host New Murchison Gold's nearby Crown Prince deposit (279koz @ 3.9g/t Au).
The historical Abbotts mining centre, which produced approximately 1.28 tonnes of gold at an exceptional average grade of 31g/t, demonstrates the high-grade potential of the area. Two main historical deposits – the New Murchison King and Vranizan – produced 760kg of gold at 35g/t and 380kg of gold at 28g/t respectively. Additionally, the region has seen other gold targets with exploration potential similar to Premier1's discoveries.
What is a Multi-Element Soil Anomaly?
A multi-element soil anomaly is a geochemical signature where multiple elements (in this case gold, copper, and arsenic) show elevated concentrations in soil samples compared to background levels. These anomalies are particularly significant when they:
- Form coherent patterns that correlate with underlying geological structures
- Contain elements commonly associated with gold mineralisation (like arsenic)
- Coincide with rock samples containing gold mineralisation
For investors, multi-element anomalies represent a more reliable exploration targeting tool than single-element anomalies, as they reduce the likelihood of false positives and can indicate the presence of mineralised systems below the surface.
Upcoming Exploration Plans
Premier1 Lithium's high-grade gold discovery has prompted the company to commence a third mapping and rock chip sampling program targeting areas with high-grade gold results and exploring new areas not yet covered by the exploration team. Results from this Phase 3 program are expected in the coming weeks.
The company's forward exploration strategy includes:
- Detailed geological mapping to identify structural controls on mineralisation
- Additional geophysical surveys to better define targets beneath cover
- Initial drill testing planned for H2 2025
Investment Thesis: Early-Stage Opportunity with Proven District Credentials
Premier1 Lithium's Abbotts North Project represents an attractive early-stage gold exploration opportunity based on several key factors:
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Proven High-Grade District: The project is located in a district with historical production of extremely high-grade gold (31g/t average)
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Untested Potential: Despite its proximity to historical high-grade mines, the Abbotts North area remains significantly underexplored
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Multiple New Discoveries: Recent sampling has identified several new mineralised zones in previously unexplored areas
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Strong Technical Approach: The company is employing a systematic exploration approach combining geological mapping, multi-element geochemistry, and structural analysis
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Strategic Land Position: The tenement package covers extensions of the same structural features that host the nearby 279koz Crown Prince deposit
Why Investors Should Follow Premier1 Lithium
Premier1 Lithium has positioned itself at the intersection of two high-demand commodities – lithium and gold. While the company name highlights its lithium focus, the Abbotts North gold project provides shareholders with exposure to a potentially significant gold discovery in a proven high-grade district.
The systematic approach to exploration at Abbotts North, combined with the high-grade nature of the initial results, suggests the company has strong technical capabilities. With multiple exploration programs underway and initial drilling planned for later in 2025, there are several near-term catalysts that could drive share price appreciation. Furthermore, similar mining exploration discoveries in the region have proven significant for investors.
Most significantly, the Premier1 Lithium high-grade gold discovery of 11.7 g/t Au in previously unexplored areas demonstrates the project's substantial exploration upside. As Premier1 continues to advance the project through additional sampling, geophysics and ultimately drilling, investors have an opportunity to gain exposure to a gold discovery story at its earliest stages. This opportunity comes at a time when new high priority gold targets are increasingly attracting market attention.
In addition, industry analysts have noted that Premier1's approach parallels other successful exploration stories, such as the Hanang gold project acquisition, which has created significant investment opportunities in similar geological settings.
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