Delta Lithium Secures Full Control of Yinnetharra Tenements with Gold Discovery

Delta Completes Tenement Acquisition to Consolidate Yinnetharra Project

Delta Lithium Limited (ASX:DLI) has taken a significant step in consolidating its lithium exploration footprint by acquiring tenements previously subject to a Farm-In Joint Venture with Reach Resources Ltd. The acquisition encompasses the Morrissey Hill and Camel Hill projects, covering approximately 170 km2 in Western Australia’s Gascoyne region. This includes key prospects such as Talisker, Fireball, Aberlour, Cirka, and Tomahawk, all situated within the highly prospective Leake Spring metasediment package.

The deal involves a $400,000 cash payment and an equivalent value in Delta shares, terminating the prior Earn-In Agreement. Transfer remains subject to Ministerial consent, with Reach Resources holding the tenements on Delta’s behalf if delays occur. This move grants Delta full ownership and greater flexibility in planning exploration activities across these strategically important tenements.

Gold Occurrence at Mason’s Warrants Further Investigation

Final assay results from recent regional drilling at Yinnetharra revealed a noteworthy gold intercept at the Mason’s prospect, with 2 metres grading 5.69 g/t Au from 96 metres depth. This includes a standout 1-metre sample at 10.85 g/t Au. Although the intercept is relatively narrow and deep, it aligns with historic soil anomalies and a demagnetised geological zone, prompting plans for follow-up drilling and more detailed soil sampling focused on gold hotspots.

Delta’s Managing Director James Croser highlighted the potential significance of this discovery, emphasising the need for further work to properly assess the gold anomaly’s extent and economic viability.

Ongoing Exploration Expands Prospect Portfolio

Exploration at Yinnetharra continues apace, with the company’s field team systematically mapping and sampling across over 2,300 km2 of tenure. To date, more than 25 prospects have been identified, including lithium, tantalum, tungsten, and fluorite anomalies. Soil sampling programs are underway to test these targets, supported by geological mapping and reconnaissance.

Despite the recent drilling campaign intersecting pegmatites visually similar to known lithium-bearing zones, no significant lithium grades emerged from the latest assays. However, the project’s geology remains highly prospective, with large exposures of near-fresh rock and fertile pegmatite systems situated within the favourable ‘Goldilocks’ zone adjacent to the Thirty-Three Suite granites.

This exploration momentum follows Delta’s broader efforts at Yinnetharra, where a March 2025 Mineral Resource Estimate reported 21.9 Mt at 1.0% Li2O and 75 ppm Ta2O5, alongside tantalum-only resources totalling 17.5 Mt.

Strong Financial Position Supports Growth Plans

Delta Lithium maintains a robust balance sheet, reporting a cash position of $52.2 million as of 31 March 2026, complemented by $115 million in ASX-listed investments. This financial strength underpins ongoing exploration and development activities across its portfolio, including the recently spun-out gold assets held via a 34.4% stake in Ballard Mining.

Management Refresh Brings New Expertise

The company announced the resignation of Geology Manager Shane Murray after five years of service. Olaf Frederickson has been appointed as his replacement, bringing three decades of experience in mineral sands, iron ore, lithium, and gold exploration, with a particular focus on resource estimation and exploration strategy. This leadership change aims to bolster Delta’s technical capabilities as it advances its Yinnetharra and Mt Ida projects.