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3.07% Li2O New Results Confirm High-Grade Continuity and Increasing Thickness of Pegmatites Drilling Update - Salinas Lithium Project
Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is very pleased to announce that the latest assay results from drilling at the Salinas Lithium Project in Brazil, continue to confirm high-grade lithium with a peak grade of 2.0m @ 3.07% Li2O returned in hole SADD0041 . These continued very positive results from the Salinas Lithium Project in Brazil provide Latin with the confidence to expand the drilling team to facilitate the fast tracking of systematic mineral resource definition drilling
HIGHLIGHTS
- Results received from the latest two diamond drill holes at the Salinas Lithium Project have confirmed the continuity of the previously reported high-grade lithium pegmatites, and upgraded the project through now confirming the thickening of the logged pegmatites to the south.
- More outstanding assay results show further high-grade lithium in pegmatites, with a peak of 2.0m @ 3.07% Li2O. All results remain open along strike and down dip.
- Intersections include:
- Assay results continue to show consistent down hole and down dip grade profiles, which is now demonstrated across the first two wide spaced drill sections.
- Drilling of SADD011, approximately 350m to the north of drilling reported above, has confirmed the continuation of spodumene bearing pegmatites over a strike extent approaching one kilometre. This positive result indicates a possible link of a mineralised system to the south target, expanding the strike considerably. Planning for additional drill testing is being carried out to test this middle zone.
- These further very positive assay results provide the Company the confidence to secure additional drilling rigs in order to fast-track mineral resource definition drilling, of what it believes could be a significant lithium occurrence.
Latin Resources’ Managing Director, Chris Gale, commented:
“These new assay results from the latest two holes drilled in the South Target Area of the Salinas Lithium Project, are once again extremely pleasing. We have now confirmed our initial observations that the logged lithium bearing pegmatites are increasing in thickness as we move south, while maintaining the very high-grades seen in the first two holes.
“We are also very excited to have intersected fresh spodumene in hole SADD0011, which is quite a way out to the north of our previous drilling in what appears to in fact be a continuation of the mineralised system . This new evidence of extension in strike length of the spodumene pegmatites coupled with the confirmation of continuing high-grades in our early drilling, further enhances our belief that we are on the verge of what could be a major new discovery. We have now confirmed spodumene bearing pegmatites over a continuous strike length approaching one kilometre.
“As we announced last week, we have expanded out tenement holding in the area to cover another known high-grade lithium outcropping pegmatite. This new area will become our second frontline in the area, as we move to fast-track mineral resource definition with infill and step-out drilling at our initial prospect; and in parallel commence drilling on our new Monte Alto prospect to the east.
“With more assay results to come from holes SADD005 and SADD006, the strong evidence of a northern extension of the spodumene pegmatite system, and the commencement of drilling on a second working front at Monte Alto, it is an extremely exciting time for the company. Expect more to come over the next few weeks.”
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This article includes content from Latin Resources Limited , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Broad High Grade Lithium Intersections Extend BP33
Advanced Australian lithium developer, Core Lithium Ltd (Core or Company) (ASX: CXO), is pleased to provide an update on exploration activities and results from the Finniss Lithium Project (Finniss Project) near Darwin in the Northern Territory.
Highlights
- Broad and high-grade lithium intersections continue to be delivered at the Finniss Lithium Project near Darwin in the NT
- Two recent deep diamond drill holes at BP33 have produced high grade spodumene-rich intersections including:
- 57.35m @ 1.83% Li2O in NMRD016
- 51.0m @ 1.63% Li2O in FRCD023
- Significant southern extension to spodumene bearing pegmatiteatBP33identifiedinadditionalreversecirculation anddiamond drilling
- Intersections outside of the current Mineral Resource at BP33 expected to deliver substantial extensions
- Further drilling planned at BP33 for the coming field season
- Expanded exploration and resource drilling to recommence and ramp-up in early Q2 2022 across the Finniss Project
This article includes content from Core Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Latest Drilling At Salinas Lithium Project Confirms Continuity And Thickening Of Pegmatites Along Strike And Down Dip
Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is extremely pleased to confirm that the ongoing diamond drilling campaign at the Company’s Salinas Lithium Project in Brazil (“Salinas” or the “Project”), is continuing to intersect thick, shallow dipping spodumene rich pegmatites, with SADD003 returning a best intercept of 16.17m true thickness. (Figure1).
HIGHLIGHTS
- Three diamond holes completed, with all three intersecting multiple spodumene bearing pegmatites, confirming strike and dip continuity.
- All pegmatites are open along strike and downdip.
- Drilling 180m along strike to the south has intersected 16.17m (true thickness) spodumene bearing pegmatites.
- Drillinghasconfirmedthe“pinch and swell”natureofthepegmatitesatSalinas, highlighting the significant nature of this greenfields discovery.
- Drilling of the 14-hole program is ongoing, with SADD004 currently underway testing the down dip extensions of pegmatites intersected in SADD003.
As previously reported, the Company’s initial drillhole SADD001, intersected three separate spodumene bearing pegmatites down dip from high-grade lithium outcrop samples1. Drilling of the next two holes is now complete, with SADD002 targeting approximately 100m down dip from SADD001, and SADD003 some 180m to the south along strike (Appendix 1) (Figure 2). All three holes have intersected the same three layers of pegmatites
Figure 1: SADD003 – spodumene bearing pegmatite 65.6-81.77m, (16.17m true thickness) intersected in diamond drilling approximately 180m along strike to the south of previously reported intersections1
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This article includes content from latin Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Saga Metals and Rio Tinto Form Joint Venture for Legacy Lithium Project in Québec
Privately owned explorer Saga Metals has announced the execution of an option to joint venture agreement with Rio Tinto Exploration Canada (RTEC) for its Legacy lithium project in Québec, Canada.
Announced on Wednesday (July 3), the deal outlines the terms under which RTEC can acquire up to a 75 percent interest in the asset through staged investments and exploration expenditures.
The Legacy lithium project, located in the Eeyou Istchee James Bay region of Québec, is comprised of 663 claims covering 34,243 hectares and features 100 kilometers of striking paragneiss.
Under the agreement, RTEC, a subsidiary of Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), has the opportunity to earn an initial 51 percent stake in the project over four years by meeting financial and exploration commitments.
To earn the initial 51 percent interest, RTEC will have to make cash payments totaling C$410,190 to Saga by August 11 of this year. Additionally, RTEC is committed to spending C$9,571,100 on exploration activities, including a firm commitment of at least C$1,709,125 within the first 20 months of the agreement.
Upon earning its first 51 percent interest, RTEC has the option to increase its stake to 75 percent over an additional five year period. This second option requires RTEC to invest an additional C$34,182,500 in exploration.
During both the first and second option periods, RTEC will serve as the project operator for Legacy, overseeing the exploration and development activities. A technical committee made up of members from both Saga and RTEC will be established to review and prepare the exploration programs for the site.
“This marks a significant milestone in the Company’s development and creates a non-dilutive pathway for the necessary capital to properly explore our Legacy Lithium Project over the coming years,” said Mike Stier, Saga's CEO and director.
In a related development, on Tuesday (July 2), Saga entered into an agreement with two undisclosed private vendors to acquire a 100 percent interest in the Amirault lithium property, also in Québec.
Amirault, which is contiguous to Legacy, covers an area of 31,347 hectares and expands Saga’s holdings within the Eeyou Istchee James Bay region to a total of 65,849 hectares — an increase of over 1,274 claims.
In the release, Stier notes that Saga continues to move toward an initial public offering.
“We are working through the regulatory process and anticipate filing our final prospectus in the coming days," he said.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
New Drilling and Exploration Programs Launched for Critical Minerals and Gold Targets in World-Class Australian Mineral Provinces
Metals Australia Ltd (ASX: MLS) is ramping up exploration programs across Critical Minerals and gold targets on the three key projects acquired through the purchase of an 80% interest in Payne Gully Gold Pty Ltd (PGG)1.
- A series of new drilling and exploration programs have been launched, testing Critical Minerals and gold targets across three key project areas. These projects all lie along strike from major deposits in world-class mineral provinces in Western Australia and the Northern Territory (see locations, Figure 1).
- The exploration programs at these highly prospective projects, acquired through the purchase of an 80% interest in Payne Gully Gold Pty Ltd1, include:
- Initial drilling of un-tested key copper-gold target corridor at the Warrego East Copper-Gold Project within the Tennant Creek Mineral Field (TCMF) in the NT (see Figure 1), which has historically produced 25Mt @ 6.9 g/t Au and 2.8% Cu2. The granted Warrego East EL32725 lies directly east of Warrego, the largest historical mine at Tennant Creek, which produced 6.75Mt @ 1.9% Cu, 6.6 g/t Au2, and covers a fault corridor interpreted from detailed magnetics and the Company’s gravity survey that connects Warrego with the Gecko and Orlando copper-gold deposits (past production and resources 11Mt @ 2.3% Cu, 1.8 g/t Au2,3 – see Figure 2). A Mine Management Plan (MMP) has been submitted to the NT Government for approval for an extensive aircore drilling program and follow-up RC/diamond drilling across ironstone hosted copper-gold targets which have not been previously tested. The Company also has four EL applications in the TCMF, all of which sit on key mineralised corridors (see Figures 2 & 3).
- Initial drilling of lithium-pegmatite targets on the Warrambie Critical Minerals (Li, Ni-Cu-Co) Project in WA’s northwest Pilbara (see Figure 1). Warrambie is located just 10km east of the major Andover lithium discovery which has produced drilling intersections of up to 209m @ 1.42% Li2O4. Targets have been defined by detailed gravity and reprocessed magnetics imagery5 which are analogous to the Andover geophysical signature but have not previously been tested due to the presence of shallow soil cover. A Program of Work (PoW) has been submitted to the WA Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for approval to drill a series of aircore drilling traverses and follow-up with RC or diamond drilling across identified lithium pegmatite targets (see Figures 4 & 5). This program is expected to commence during H2 2024.
- An aeromagnetic (fixed wing) survey is underway across the granted gold tenements located along strike to the northeast of the 5Moz Big Bell gold deposit in WA’s Murchison Gold Province. (see Figures 1 & 6). The tenements cover a 50km strike length of the regional scale Chunderloo Shear Zone and regional magnetics show potential for greenstone and potentially gold-mineralised splay structures which have not been tested in areas of cover1. The detailed aeromagnetics will define these targets prior to planned aircore drilling to test bedrock targets.
Metals Australia CEO Paul Ferguson commented:
“These new exploration programs are important steps in advancing our extensive and highly prospective Critical Minerals and gold projects in WA and the NT, which are all located along strike from major deposits in world-class mineralised terranes.
High-quality drilling targets have been identified by our geological team at the Tennant Creek project, east of the high-grade Warrego copper-gold mine, and at our Warrambie project in the northwest Pilbara, which is only 10km east of the major Andover lithium discovery. We have also commenced a detailed aeromagnetic survey across a large project area located directly along strike from the 5-million-ounce Big Bell mine in WA’s Murchison district.
With exploration programs across five key projects in Australia and Canada, the second half of 2024 will be an extremely exciting period for the Company as we look to unlock the value of our portfolio.”
The target areas being tested are all located along strike from major mineral deposits (see Figure 1, below).
Figure 1: Metals Australia key Critical Minerals and gold exploration projects in world-class mineral terranes (adapted from Geoscience Australia, Australian Mineral Deposits)
Warrego East Copper-Gold Targets, Tennant Creek, NT
The Company’s Tennant Creek Project includes granted EL32725 at Warrego East and four EL applications, EL32397, EL32837, EL32410 and the more recent EL33853, located in the Tennant Creek Mineral Field (TCMF) (see Figure 2 below).
The TCMF has produced 25Mt @ 6.9 g/t gold (Au) & 2.8% copper (Cu) historically2, the equivalent of more than 8.5Moz or $20 billion worth of gold at current prices, with all production coming from deposits in outcropping areas.
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This article includes content from Metals Australia Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Gradiant's Water-focused Vision for DLE and Tailings Management
There are many companies vying to produce the direct lithium extraction (DLE) technology of choice, but privately owned Gradiant is one of the few that is taking a water-first approach.
Speaking with the Investing News Network (INN) at Fastmarkets' Lithium Supply and Battery Raw Materials Conference, held in Las Vegas from June 24 to 27, Anurag Bajpayee, co-founder and CEO, and Prakash Govindan, co-founder and COO, explained the company’s water-first philosophy and highlighted Gradiant’s current endeavors.
The water-focused company is the brainchild of both Bajpayee and Govindan, who founded the Boston-headquartered company while studying at MIT. Gradiant was developed to offer advanced water and wastewater treatment solutions for critical industries like mining, semiconductors, pharmaceuticals and renewable energy.
Utilizing proprietary technologies, Gradiant’s goal is to reduce water use, minimize wastewater discharge, reclaim resources and convert wastewater into freshwater. To better serve the lithium sector, the company recently spun out alkaLi, a new company focused on scaling battery-grade lithium production using its proprietary EC2 technology.
As noted on the company's website, EC2 is designed to extract, concentrate and convert lithium quickly and efficiently, reducing operational costs and environmental impact. The technology, which adapts to various lithium sources and integrates with existing infrastructure, has been successfully tested and proven commercially.
“It's a startup that benefits from over a decade of experience, and from all the funding we have raised,” said Bajpayee.
For Govindan, Gradiant’s success in the water treatment space is a natural fit for the lithium extraction sector.
“The DLE space is glorified water treatment,” he explained while speaking with INN. “Adsorption, resins, ion exchange and membranes are our bread-and-butter water treatment processes. "
Gradiant's primary water focus and proprietary technologies give alkaLi an edge, noted Bajpayee.
“I think one difference is we are a water company trying to do DLE, not a DLE company trying to do water. Because you can't just do DLE — you either have to do water, or you have to partner with water companies,” the CEO explained.
alkaLi's EC2 is a flexible, three stage system designed to process lithium from various sources, including brine, evaporation and recycling. It can be used in full or in standalone stages, integrates with existing infrastructure and offers an option to boost production with Gradiant's SmartOps AI platform.
Extracting value from wastewater
While alkaLi is lithium centric, Gradiant has a long history of aiding the mining sector in the extraction of commodities from water. “We have worked across mining applications, not just critical minerals like nickel, cobalt and lithium, but also iron ore mines, uranium mines and other sectors,” said Govindan.
In his view, the mining sector has two very specific issues. First, in lithium processing, the mineral is found in water, requiring expertise in concentration, decontamination and conversion to produce battery-grade materials. This process is also applicable to nickel, cobalt and other critical minerals.
The second issue is wastewater treatment or tailings reprocessing, such as in Chile's copper mines, where tailing ponds contain critical minerals and highly polluting wastewater. The technology Gradiant has developed can reclaim valuable minerals while recycling wastewater into fresh water for industrial use.
Pointing to Chile's Atacama province, where water scarcity is a prominent issue, Govindan noted that as much as 60 percent of the potable water in the region is used for mining applications.
“When we recover and reuse that wastewater to the extent of 90 percent, we can reduce that 60 percent all the way down to 6 percent,” he said. “So it's a huge environmental impact, water sustainability impact.”
According to a 2023 article published in the journal "Science of the Total Environment," tailings reprocessing can reduce the amount of tailings that need to be stored, minimize the greenhouse gas emissions associated with new mining and supply approximately 2 percent of the EU’s future copper demand.
Govindan highlighted a nickel project in Australia, where the company was brought in to recover 20 percent of the nickel that wasn't recovered during processing, leading to losses in wastewater.
Gradiant proposed a solution to recover much of the lost nickel, significantly boosting the project's profitability.
Targeting tailings can also produce industrial water for reuse, as the Gradiant executives pointed out. Additionally, as Bajpayee noted, the processes used by Gradiant and alkaLi not only produce reusable water, but can also recover salt and other minerals, resulting in “true zero-discharge projects.”
Junior-focused business model
Being able to recover lost minerals while reusing water can lead to significant cost savings.
“Instead of selling the equipment and walking away, we will put it at the site and operate the equipment. The owner pays us per liter of water we produce, per tonne of lithium we produce, which really helps the juniors,” said Govindan.
“(Juniors) are in a capital-intensive industry, and when prices are US$12,000 per tonne for lithium, they're not able to raise capital. Then there is Gradiant, the only unicorn in the water tech space. We have an excellent balance sheet; also we are able to raise debt and equity capital, which we can use to help them by putting the equipment ourselves.”
EC2’s modular design makes it easy and fast to set up, which is another plus for junior miners looking to take advantage of future market trends quickly. “Two things are very important in terms of product philosophy for us (and) for lithium especially: productization and digitalization. The EC2 technology is very modular and it's very digital,” said Govindan.
“We have artificial intelligence; we have a SmartOps platform we developed for water treatment, but is lithium applicable. So we are able to provide highly modular, highly digitalized solutions.”
For companies looking to produce lithium hydroxide instead of carbonate, a simple converter can be implemented that converts carbonate to hydroxide, the executives explained.
Being a bespoke water-first company also makes the technologies developed by Gradiant versatile.
“Using variable brines is something that actually comes quite naturally to us,” said Bajpayee. “And the ability to customize solutions makes it also widely applicable, whether it's South America, the US or Australia.”
Aside from designing water solutions for industries like mining, Gradiant has developed technologies to target perfluoroalkyl and polyfluoroalkyl substances (PFAS), also known as forever chemicals.
Gradiant's ForeverGone is a comprehensive solution for permanently eliminating PFAS. Unlike current technologies that only transfer PFAS waste, ForeverGone uses micro-foam fractionation to concentrate PFAS, as well as a destruction engine for electro-oxidation to completely destroy the chemicals.
This process ensures water meets or exceeds US Environmental Protection Agency standards, offering an efficient, cost-effective and sustainable method for PFAS removal.
“(The goal is) to build an impact that will outlast you. That's the ultimate measure of success,” said Bajpayee.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Jindalee Lithium Limited (ASX: JLL) – Reinstatement to Quotation
Description
The suspension of trading in the securities of Jindalee Lithium Limited (‘JLL’) will be lifted immediately, following the release by JRL of an announcement regarding a capital raising.
Issued by
ASX Compliance
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This article includes content from Jindalee Lithium Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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