Lithium Energy (ASX:LEL) said it will use the AU$189,200 funding provided under the Queensland government's Collaborative Exploration Initiative for a portion of the costs of a 3D direct current induced polarisation survey and a magnetotelluric survey to be undertaken at the Bajool prospect at the Capricorn gold-copper belt project, according to a Wednesday Australian bourse filing.
Re-assaying of the historical drill core confirmed the prospectivity at the prospect, with up to 3.22% grade of copper and 252 parts per million of molybdenum.
The surveys will be used for accurate modelling of the targeted porphyry systems, leading to improved targeting of subsequent drilling programs.
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