Delta Lithium (ASX:DLI) will start drilling on six new reconnaissance targets at its Yinnetharra Lithium Project in Western Australia, generated from regional surface sampling and detailed mapping, with drill testing planned for the fourth quarter of 2026 pending approvals, according to a Wednesday Australian bourse filing.
The company said metallurgical test work on a one-tonne composite of core from its Mt Ida project is underway to confirm the proposed tantalum flowsheet and produce additional mica, spodumene, and tantalum concentrate for refining test work.
Delta's cash balance was AU$48.8 million, with additional ASX-listed investments valued at AU$125 million based on closing prices as of Sept. 29, it added.
The company's shares rose past 9% in recent Wednesday trade and earlier hit a 52-week low.