Step Aside Lithium Project Positioned for Monetization

Sam Hosack

The Step Aside Lithium Project in Goromonzi, owned by Australia Stock Exchange-listed Prospect Resources (PSC), is poised for monetization. This strategic move aims to potentially fund the exploration and development of the Mumbezhi Copper Project in Zambia.

By Rudairo Mapuranga

Recent assays from Phase 4 diamond drilling at Step Aside have yielded promising results. Significant intercepts from the 20-hole campaign include:

– 13.0m @ 1.68% Li₂O from 75.5m (CDD078) – WinBin
– 15.3m @ 1.25% Li₂O from 179.9m, including 11.0m @ 1.60% Li₂O from 182.0m (CDD090) – Pegmatite E
– 5.0m @ 1.68% Li₂O from 149.0m (CDD042 re-entry) – Pegmatite C
– 6.0m @ 1.12% Li₂O from 23.6m (CDD086) – Pegmatite E
– 6.2m @ 1.07% Li₂O from 55.0m (CDD076) – Pegmatite D
– 4.2m @ 0.93% Li₂O from 212.0m (CDD010B re-entry) – Pegmatite C

Hole CDD078 extended the high-grade mineralized zone at WinBin by at least 100m southwest and remains open in that direction and at depth. The northern Pegmatite E deposit also showed promising results, with the deepest hole, CDD090, intersecting high lithia grades at a vertical depth of 130m, indicating the deposit is open and thickening at depth.

According to Prospect Managing Director and CEO, Sam Hosack, the company is satisfied with the progress at Step Aside.

“We are very pleased with the progress made at Step Aside. Our teams have worked diligently to produce these results over four phases of drilling. At every stage, these assets have indicated substantial additional mineralization growth potential ready to be further uncovered.”

He highlighted the significance of the WinBin discovery, noting, “The WinBin mineralized zone at Step Aside was an excellent discovery last year and enabled us to swiftly identify what we now know to be a significant co-joined mineralized pegmatite system that remains open in multiple directions and at depth.”

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Hosack also emphasized the potential for commercialization: “With our key focus now directed towards the rapid advancement of the recently acquired Mumbezhi Copper Project in Zambia, we plan to reduce our exploration activities at Step Aside. We are undertaking a comprehensive review focused on potential commercialization routes for these two attractive lithium assets. Step Aside may offer a near-term sale opportunity to help fund Mumbezhi.”

Metallurgical Test Work and Project Potential

Metallurgical test work is ongoing for the spodumene-dominant deposits at Step Aside. The project is situated on just one square kilometre of tenement, only 8 km from the Arcadia lithium mine, and has been significantly de-risked. This represents an exciting, advanced exploration play with regional scale potential.

Future Exploration

Future exploration programs will target the southwest extension of WinBin, as the deposit remains open in that direction and at depth. Metallurgical test work studies continue, with a 30kg composite sample recently collected for further analysis.

Next Steps

Exploration activities at Step Aside will be scaled back to minimum holding commitments, while additional lithium prospectivity within the license will be evaluated for future drill targeting. This strategic approach aligns with the company’s broader goal of advancing the Mumbezhi Copper Project in Zambia.

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