THE DRILL SERGEANT: Lithium Australia (ASX: LIT) announced the first results of a maiden exploration program undertaken at the company’s fully-owned Eichigt project in Germany.
Lithium Australia said the initial exploration focused on copper-bearing quartz-veins that were subjected to small-scale mining activities during the 16th century.
From these, cobalt and copper mineralisation were encountered, with grades up to 0.6 per cent for cobalt and 0.48 per cent for copper from sample E802G.
“Strong, previously undescribed cobalt mineralisation at surface confirms the limited nature of past exploration,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.
“The diggings encountered are testimony to the considerable extent of the strike.
“Close to our Sadisdorf lithium project, and on the doorstep of the European EV manufacturers, this cobalt could prove a strategic feed into the burgeoning battery industry.”