Lithium Explorers Rebut Recent Sentiment
COMMODITY CAPERS: Although there has been some pain for lithium stocks of late, it seems the essential battery starter is doing its best to escape from being clumped in with other underperforming commodities.
This week some of the bigger players in the lithium space enjoyed some slight gains with IGO (up 4.9 per cent) and Pilbara Minerals (up 6.3 per cent) on Wednesday helping to lead the mining sector (up 0.5 per cent) higher on that particular day.
There was also plenty of action in amongst the smaller participants during the week who, it seems, are prepared to take on market sentiment and not succumb like their nickel counterparts.
TG Metals (ASX: TG6) informed the market of an encounter with further lithium mineralisation whilst drilling at the Burmeister prospect within the company’s Lake Johnston lithium-nickel-gold project in Western Australia.
TG Metals reported assays from an ongoing diamond drilling campaign it said had confirmed continued intersections of spodumene bearing pegmatites exhibiting high lithium oxide (Li2O) grades.
Results included
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23.5 metres at 1.52 per cent Li2O from 127.4m, including 6.6m at 1.55 per cent Li2O from 127.4m and 14m at 1.67 per cent Li2O from 136.5m;
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10.5m at 1.6 per cent Li2O from 87.2m; and
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7.6m at 1.37 per cent Li2O from 119.4m and 1.6m at 2.32 per cent Li2O from 97.7m.
“These initial results from the 2024 drilling confirm Burmeister as a significant high-grade spodumene lithium discovery with excellent potential as a near term major deposit,” TG Metals CEO David Selfe said in the company’s ASX announcement.
“This large mineralised system continues to show upside with thick pegmatite intervals intersected up dip from the original discovery holes.
“The drilling program has provided sufficient core sample for our first round of metallurgical testwork which will now begin in earnest.
“The results of this will add to the planning for resource drill out at Burmeister.
“Permitting on the promising Jaegermeister prospect is progressing well with field activities nearing completion.
“In addition, we will be testing wider expanses of the soil anomaly with seismic geophysics to further inform the lithium pegmatite geological model and our drill targeting.
“We look forward to the next round of drilling on Burmeister and the first drilling on our other highly prospective targets at Jaegermeister and Tay.”
TO READ THE FULL TG METALS ANNOUNCEMENT: CLICK HERE
TG Metals CEO David Selfe and Wally Graham at the 2024 RIU Explorers Conference in Fremantle
Widgie Nickel (ASX: WIN) may consider a change of shingle having carried out a targeted review of its entire tenement package for lithium-caesium-tantalum (LCT) pegmatites in 2023 following the company’s Faraday lithium discovery in October 2022.
The review identified prospects surrounding Faraday-Trainline, Voyager, Farson4 and other regional targets, which are now being systematically assessed via reconnaissance campaigns.
The latest of these is the Gemini prospect, located 600m north of Atomic 3 and extends the lithium trend to 1.2km from Voyager lithium prospect.
Visible spodumene has been identified in the field supported by high-grade rock chip assays.
“Widgie’s lithium exploration program is starting to paint a bigger picture of endowment,” Widgie Nickel managing director and CEO Steve Norregaard said in the company’s ASX announcement.
“Hot on the heels of the Farson discovery we have identified another new high-grade lithium occurrence at a new prospect named Gemini with indications that there may be a substantial feeder system in close proximity.
“Boots on the ground geology is paying dividends with these additional results from our 2024 field program re-evaluating the whole of Widgie’s tenure for lithium.
“The systematic approach starting with grassroots mapping and sampling has been validated by these high-grade lithium results.
“This is only the beginning.
“Widgie is well positioned to make further discoveries in the highly prospective Lithium Corridor and is ideally set to build on an already established lithium resource base of 13,500 tonnes of contained Li2O and its substantial nickel endowment of 190,300 tonnes of contained nickel.”
TO READ THE FULL WIDGIE NICKEL ANNOUNCEMENT: CLICK HERE
Asra Minerals (ASX: ASR) extended its lithium exploration tenure by entering an option agreement to add two new tenements to its Lake Johnston project portfolio.
Asra Minerals’ Southern Hub at the Lake Johnston project will expand to 550 square kilometres of land in the southern Yilgarn region of Western Australia some 150km south-west of Kalgoorlie.
The company described the ground as “fertile geological ground for LCT pegmatites”,noting it to be surrounded by several lithium projects.
“Recent lithium bearing pegmatite discoveries, and investment by Rio Tinto into the Lake Johnston area, validates the districts enormous critical mineral potential, and its vastly under-explored status,” Asra Minerals managing director Rob Longley said in the company’s ASX announcement.
“The long term outlook for lithium is strong and new discoveries in Tier 1 jurisdictions like Western Australia are vital to support the growing demand for critical minerals and decarbonisation efforts, globally.
“Recent funding by the Government to assist early stage critical mineral exploration companies to grow end-to-end supply chains with Australia’s International partners is further evidence of the global efforts to encourage exploration and discoveries.
“Asra’s Southern Hub will be expanded as prospective ground becomes available to explore and improve our chances of discovery in the highly enriched and easily accessible southern Yilgarn area of WA.
“We are excited to partner up with the respected Geoscientists at Waree to explore two additional EL’s that adjoin our current holding at Lake Johnston.”
TO READ THE FULL ASRA MINERALS ANNOUNCEMENT: CLICK HERE
Green Technology Metals (ASX: GT1) announced infill lithium assay results returned from the North and South Aubry deposit located at the company’s Seymour lithium project in Canada.
Green Technology Metals reported an encounter with high-grade long intervals more than 20m thick and with grades up to 2.92 per cent Li20, which it claims to continue to confirm strong continuity of lithium mineralisation at the North Aubry deposit.
The infill results will assist a Mineral Resource Estimate upgrade for Seymour Green Technology Metals currently has underway, enabling improved Resource confidence category levels to feed more tonnes into an upcoming DFS.
The drilling achieved the best high-grade drilling intercept returned to date across the company’s portfolio of:
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24.2m at 2.69 per cent Li20 from 235.8m, including 22.2m at 2.92 per cent Li20 from 235.8m.
Current North Aubry Mineral resources are 10.3 million tonnes at 1.03 per cent Li2O, representing part of a Global Resource of 24.9 million tonnes at 1.13 per cent Li2O.
“These recent results from infill drilling at Seymour are some of the highest grade and thickness ever defined, further proving the robust nature and quality of the North Aubry pegmatite which is amenable to both open pit mining and simple dense media separation,” Green Technology Metals CEO Luke Cox said in the company’s ASX announcement.
“The team will now start modelling an updated MRE for Seymour increasing the resource confidence level, that will be used in the upcoming Feasibility study.
“Looking ahead to the second half of 2024, we have plans to expand our regional resource base and look forward to commencing our maiden exploration drilling campaign at the nearby highly prospective Junior lithium project, which sits in the same proven fertile greenstone belt as Seymour.”
TO READ THE FULL GREEN TECHNOLOGY METALS ANNOUNCEMENT: CLICK HERE
Green Technolgy Metals CEO Luke Cox and Wally Graham at the 2024 RIU Explorers Conference in Fremantle