Trigg continues to run on Lake Throssell results

TRIGG Mining jumped another 16% today after managing director Keren Paterson gave a presentation to the Resources Rising Stars virtual investor forum.
Trigg continues to run on Lake Throssell results Trigg continues to run on Lake Throssell results Trigg continues to run on Lake Throssell results Trigg continues to run on Lake Throssell results Trigg continues to run on Lake Throssell results

Trigg managing director Keren Paterson

The stock jumped 15% yesterday after Trigg reported rotary drilling results from the Lake Throssell sulphate of potash project near Laverton in Western Australia.

A total of 26 rotary holes drilled to a maximum depth of 10m across the playa lake surface returned high-grade assay results of up to 14,500mg/L SOP.

The holes returned an average grade of 11,300mg/L SOP from 77 brine samples collected, with 90% of all holes drilled to date returning grades exceeding 10,000mg/L SOP.

Trigg said the results placed Lake Throssell amongst the highest-grade SOP projects in Australia.

"It's a new high-grade discovery that's potentially very large," Paterson said today.

The company is analysing the results of a gravity survey to define targets for aircore drilling to test the basal aquifer in the interpreted palaeochannel, which has the potential to host a large volume of potassium-rich brine.

Trigg is hoping the results of recent work will allow it to define a maiden resource in the December quarter.

Trigg listed on the ASX in October 2019 after a A$4.5 million initial public offering and had $1.8 million at the end of June.

Shares in Trigg were up 16.1% to 11.5c, the highest price this year. It values the company at $7.7 million.