THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) has been granted three exploration licences to more than double the area the company currently covers in the Greenbushes region of Western Australia.
Lithium Australia described Greenbushes as being the “world’s most productive lithium province” with the area hosting abundant pegmatites, which appear to be structurally controlled.
A number of major structural features occur within the area, including the Donnybrook – Bridgetown Shear, within which the Greenbushes pegmatite is located.
Subsidiary structures have been identified in the area, some of which are also associated with the presence of pegmatites.
Lithium Australia said its initial phases of exploration, which have already commenced, will involve non-invasive technologies to model the chemical evolution of the intrusive rocks forming part of the pegmatite complex.
The geochemical profiles will also help the company delineate the more prospective structural trends for further examination.
“The grant of the three new licences will enable Lithium Australia to gain a much more complete picture of the geological systems that have created the world’s largest known lithium pegmatite,” Lithium Australia managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.
“The potential of the area is outstanding and we will use our experience to evaluate that potential in an effort to unlock the latent value of the area.”
The granting of the new licences expands Lithium Australia’s holding adjacent to the world’s largest lithium mine, which currently produces about 40 per cent of global lithium supply from pegmatites, mined approximately 200 kilometres south of Perth, in WA.