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Approval Granted to Divert Transmission Lines at Ewoyaa
Atlantic Lithium receives authorisation to commence the diversion of the transmission lines crossing the Mankessim Licence, moving a step closer to shovel readiness at the Ewoyaa Lithium Project
Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to advise that Ghana’s Environmental Protection Agency (“EPA”) has granted authorisation to divert two transmission lines that run across planned mining areas within the Mankessim prospecting licence, which holds the Company’s Ewoyaa Lithium Project (“Ewoyaa” or the “Project”).
The planned diversion of the transmission lines, which currently traverse the proposed Project site, forms part of the Project’s mine plan and represents an important step as the Company advances Ewoyaa towards shovel readiness.
As outlined in the Ewoyaa Definitive Feasibility Study (refer announcement of 29 June 2023), the Company requested that the transmission lines be diverted to the northern border of the licence to enable the Company to commence early works at the Project, including early spodumene concentrate production through a Modular Dense Media Separation (“DMS”) processing unit.
EPA approval has been granted up to 24 March 2025, enabling Ghana Grid Company Ltd (“GRIDCo”), which owns the National Interconnected Transmission System in Ghana, to carry out the diversion of the lines on behalf of the Company.
Mining Lease Update
Atlantic Lithium is currently awaiting ministerial grant of the Mining Lease in respect of the Mankessim licence, required to advance the Project towards construction.
The Company had a meeting on Thursday, 5 October 2023 in Accra with Hon. Samuel A. Jinapor, Ghana’s Minister of Lands and Natural Resources, and representatives of the Minerals Commission, the Minerals Income Investment Fund and the Ghana Stock Exchange regarding the finalisation of the Mining Lease for the Project. The Company is pleased with the progress of its application and expects the Mining Lease to be granted shortly.
Click here for the full ASX Release
This article includes content from Atlantic 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.
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Atlantic Lithium
Overview
Despite its long mining history, favourable regulatory climate and stable political backdrop, Ghana remains largely overlooked as an investment jurisdiction for battery metals. Situated on the West African coast, the country boasts a strong strategic location and abundance of mineral wealth.
In 2023, the country reclaimed its title as Africa's number one producer of gold. And gold isn't the only precious metal to be found in the country. Ghana is also home to significant lithium reserves, with c. 180,000 tonnes of estimated resources.
Located between Europe, the United States and China, Ghana is perfectly positioned to serve as an important hub for the global supply of the battery metal.
Australian lithium exploration and development company Atlantic Lithium (ASX:A11, AIM:ALL, OTCQX:ALLIF) intends to leverage this opportunity through its flagship Ewoyaa project, set to become Ghana’s first lithium-producing mine. Atlantic intends to produce spodumene concentrate capable of conversion to lithium hydroxide and carbonate for use in electric vehicle batteries, helping drive the transition to decarbonisation.
A definitive feasibility study (DFS) released in June 2023 shows that, considering its current 35.3 million tons (Mt) @ 1.22 percent lithium oxide JORC Mineral Resource Estimate and conservative life-of-mine concentrate pricing of US$1,587/t, FOB Ghana Port, Ewoyaa has demonstrable economic viability, low capital intensity and excellent profitability. Through simple open-pit mining, three-stage crushing and conventional Dense Media Separation (DMS) processing, the DFS outlines the production of 3.6 Mt of spodumene concentrate over a 12-year mine life, delivering US$6.6 billion life-of-mine revenues, a post-tax NPV8 of US$1.5 billion and an internal rate of return of 105 percent.
Atlantic Lithium intends to deploy a Modular DMS plant ahead of commencing operations at the large-scale main plant to generate early revenue, which will reduce the peak funding requirement of the main plant. The project is expected to deliver first spodumene production as early as April 2025.
The development of the project is co-funded under an agreement with NASDAQ and ASX-listed Piedmont Lithium (ASX:PLL), with Piedmont expected to fund c. 70 percent of the US$185 million total capex. In accordance with the agreement, Piedmont is funding US$17 million towards studies and exploration and an initial US$70 million towards the total capex. Costs are split equally between Atlantic Lithium and Piedmont thereafter.
In return, Piedmont will receive 50 percent of the spodumene concentrate produced at Ewoyaa, providing a route to consumers through several major battery manufacturers, including Tesla. With 50 percent of its offtake still available, Atlantic Lithium is one of very few near-term spodumene concentrate producers with uncommitted offtake.
Already the largest taxpayer and employer in Ghana’s Central Region, Atlantic Lithium is expected to provide direct employment to roughly 800 personnel at Ewoyaa and, through its community development fund whereby 1 percent of retained earnings will be allocated to local initiatives, will deliver long-lasting benefits to the region and to Ghana.
Atlantic Lithium also has the potential to capitalise upon considerable additional upside across its extensive exploration portfolio — potential it intends to leverage to the fullest as it becomes an early mover in West African lithium production.
Company Highlights
- A mining and exploration company operating in West Africa, Atlantic Lithium is set to deliver Ghana’s first lithium-producing mine with its flagship Ewoyaa Lithium Project.
- Ghana is a well-established mining region with access to reliable, existing infrastructure and a significant mining workforce. There are currently 16 operating mines in the country.
- There is significant government interest in getting Ewoyaa operational to diversify the country’s production from gold.
- Atlantic Lithium is already the leading taxpayer and employer in the region and, through Ewoyaa, expects to bring significant business and development locally.
- The June 2023 definitive feasibility study proves Ewoyaa to be a financially viable, major near-term lithium-producing asset.
- The project is co-funded under an agreement with Piedmont Lithium.
- With 50 percent of offtake still uncommitted, the company is one of few near-term spodumene producers with offtake available.
- Situated on the West African coast, Atlantic Lithium is well-positioned to serve the global electric vehicle markets.
Key Assets
Ewoyaa
Set to be Ghana's first lithium-producing mine, Atlantic Lithium's flagship Ewoyaa Project is situated within 110 kilometres of Takoradi Port and 100 kilometres of Accra, with access to excellent infrastructure and a skilled local workforce. A definitive feasibility study (DFS) released in June 2023 confirmed the project's economic viability and profitability potential, indicating a 3.6-Mt spodumene concentrate production over the mine's 12-year projected life.
Atlantic Lithium is currently in the process of securing a mining lease for the project, which will enable the commencement of the permitting process. Through the deployment of a Modular DMS plant, which will process 450,000 tons of ore as the main 2.7-Mt processing plant is being constructed, the mine is expected to deliver first production in 2025.
Highlights:
- Promising DFS Results: Atlantic Lithium's recent DFS reaffirmed Ewoyaa as an industry-leading asset with low capital intensity and excellent profitability. Highlights include:
- Estimated 12-year life of mine, producing 3.6 Mt spodumene concentrate.
- 365 ktpa steady state production
- Average LOM EBITDA of US$316 million per annum
- NPV of US$1.5 billion
- Free cash flow of US$2.4 billion from life-of-mine revenues of US$6.6 billion
- Modest $185 million capital cost
- Payback within 19 months.
- Favourable Location: The project's starter pits are positioned within one kilometre of its processing plant. Additionally, Ewoyaa has access to reliable existing infrastructure, located within 800 metres from the N1 highway and adjacent to grid power.
- Promising Reserves: Ewoyaa's current mineral resource estimate is 35.3 Mt at 1.25 percent lithium oxide, with ore reserves of 25.6 Mt at 1.22 percent lithium oxide.
- Potential for Further Exploration: There remains significant exploration potential, with only 15 square kilometres of Atlantic Lithium's entire tenure having been drilled to date.
- Strong Partnerships: Atlantic Lithium has a 50-percent offtake deal with Piedmont Lithium, which itself has offtake agreements with both Tesla and LG Chem.
- Positive Presence: Atlantic Lithium will generate significant economic benefits to the region. Once operational, the project is expected to employ roughly 800 personnel.
Côte d'Ivoire
Atlantic Lithium currently has two applications pending for an area of roughly 774 square kilometres in the West African country of Côte d'Ivoire. The underexplored yet highly prospective region is known to be underlain by prolific birimian greenstone belts, characterised by fractionated granitic intrusive centres with lithium and colombite-tantalum occurrences and outcropping pegmatites. The area is also incredibly well-served, with extensive road infrastructure, well-established cellular network and high-voltage transmission line within roughly 100 kilometres of the country's capital, Abidjan.
Management Team
Neil Herbert - Executive Chairman
Neil Herbert is a fellow of the Association of Chartered Certified Accountants and has over 30 years of experience in finance. He has been involved in growing mining and oil and gas companies both as an executive and as an investor for over 25 years. Until May 2013, he was co-chairman and managing director of AIM-quoted Polo Resources, a natural resources investment company.
Prior to this, Herbert was a director of resource investment company Galahad Gold, after which he became finance director of its most successful investment, the start-up uranium company UraMin, from 2005 to 2007. During this period, he worked to float the company on AIM and the Toronto Stock Exchange in 2006, raise US$400 million in equity financing and negotiate the sale of the group for US$2.5 billion.
Herbert has held board positions at a number of resource companies where he has been involved in managing numerous acquisitions, disposals, stock market listings and fundraisings. He holds a joint honours degree in economics and economic history from the University of Leicester.
Keith Muller - Chief Executive Officer
Keith Muller is a mining engineer with over 20 years of operational and leadership experience across domestic and international mining, including in the lithium sector. He has a strong operational background in hard rock lithium mining and processing, particularly in DMS spodumene processing. Before joining Atlantic Lithium, he held roles as both a business leader and general manager at Allkem, where he worked on the Mt Cattlin lithium mine in Western Australia.
Prior to that, Muller served as operations manager and senior mining engineer at Simec. He holds a Master of Mining Engineering from the University of New South Wales and a Bachelor of Engineering from the University of Pretoria. He is also a member of the Australian Institute of Mining and Metallurgy, the Board of Professional Engineers of Queensland, and the Engineering Council of South Africa.
Amanda Harsas - Finance Director and Company Secretary
Amanda Harsas is a senior finance executive with a demonstrable track record and over 25 years’ experience in strategic finance, business transformation, commercial finance, customer and supplier negotiations and capital management. Prior to joining Atlantic Lithium, she worked across several sectors including healthcare, insurance, retail and professional services. Harsas is a chartered accountant, holds a Bachelor of Business and has international experience in Asia, Europe and the US.
Len Kolff - Head of Business Development and Chief Geologist
Len Kolff has over 25 years of mining industry experience in the major and junior resources sector. With a proven track record in deposit discovery and a particular focus on Africa, Kolff most recently worked in West Africa and was instrumental in the discovery and evaluation of the company’s Ewoyaa Lithium Project in Ghana, as well as the discovery and evaluation of the Mofe Creek iron ore project in Liberia. Prior to this, he worked at Rio Tinto with a focus on Africa, including the Simandou iron ore project in Guinea and the Northparkes Copper-Gold mine in Australia.
Kolff holds a Master of Economic Geology from CODES, University of Tasmania and a Bachelor of Science (Honours) degree from the Royal School of Mines, Imperial College, London.
Patrick Brindle - Non-executive Director
Patrick Brindle currently serves as executive vice-president and chief operating officer at Piedmont Lithium. He joined Piedmont in January 2018. Prior to this, he held roles as vice-president of project management and subsequently as chief development officer.
Brindle has more than 20 years' experience in senior management and engineering roles and has completed EPC projects in diverse jurisdictions including the United States, Canada, China, Mongolia, Australia and Brazil. Before joining Piedmont, he was vice-president of engineering for DRA Taggart, a subsidiary of DRA Global, an engineering firm specialising in project delivery of mining and mineral processing projects globally.
Kieran Daly - Non-executive Director
Kieran Daly is the executive of growth and strategic development at Assore. He holds a BSc Mining Engineering from Camborne School of Mines (1991) and an MBA from Wits Business School (2001) and worked in investment banking/equity research for more than 10 years at UBS, Macquarie and Investec prior to joining Assore in 2018.
Daly spent the first 15 years of his mining career at Anglo American’s coal division (Anglo Coal) in a number of international roles including operations, sales and marketing, strategy and business development. Among his key roles were leading and developing Anglo Coal's marketing efforts in Asia and to steel industry customers globally. He was also the global head of strategy for Anglo Coal immediately prior to leaving Anglo in 2007.
Christelle Van Der Merwe - Non-executive Director
Christelle Van Der Merwe is a mining geologist responsible for the mining-related geology and resources of Assore’s subsidiary companies (comprising the pyrophyllite and chromite mines) and is also concerned with the company's iron and manganese mines. She has been the Assore group geologist since 2013 and involved with strategic and resource investment decisions of the company. Van Der Merwe is a member of SACNASP and the GSSA.
Jonathan Henry - Independent Non-executive Director
Jonathan Henry is a senior executive with significant, global listed company experience, primarily in the mining industry, having held various leadership and board roles for nearly two decades. Henry is currently the non-executive chair of Toronto Venture Exchange-listed (TSX-V) Giyani Metals. He has been heavily involved in the strategic management and leadership of projects toward production, commercialisation and, ultimately, the realisation of shareholder value. He has gained significant experience working across capital markets, business development, project financing, key stakeholder engagement (including public and investor relations), and the reporting and implementation of ESG-focused initiatives.
Henry was the executive chair and non-executive director at Euronext Growth and AIM-listed Ormonde Mining, non-executive director at TSX-V-listed Ashanti Gold, president, director and CEO at TSX-listed Gabriel Resources and various roles, including CEO and managing director, at London and Oslo Stock Exchange-listed Avocet Mining PLC.
Aaron Maurer – Head of Operational Readiness
Aaron Maurer is a senior-level business executive with over 25 years’ international multi-commodity mining experience, overseeing strategic, operational and financial performance. Over his career, he has held several engineering, production, operational and senior executive roles. Before joining Atlantic Lithium, he served as executive general manager - operations at Minerals Resources, where he oversaw the Mt Marion Lithium mine and three iron ore mines in Western Australia. He was previously the managing director and CEO of PVW Resources and general manager (site senior executive) at Peabody Energy Australia.
His significant expertise spans the development and implementation of safety and cost-saving initiatives, change management, strategic planning, business development and employee development. Maurer holds a Master in Corporate Finance and a Bachelor of Engineering (Mining).
Roux Terblanche - Project Manager
Roux Terblanche is a mineral resource project delivery specialist with proven African and Australian experience working for owners, EPCMs, consultants and contractors. He has a wide range of commodity experiences, including lithium, gold, copper, diamonds and platinum. He has proven to add value and deliver projects safely, on time and within budget.
Terblanche has worked in the UAE and across Africa, including Ghana, the DRC, Burkina Faso, Zambia, Rwanda, Botswana and Senegal. He was instrumental in increasing the operating footprint of an international construction company across Africa and was integral to the building of the Akyem, Tarkwa Phase 4 and Chirano mines in Ghana.
Terblanche holds a national diploma in mechanical engineering, a diploma in project management and a Bachelor of Commerce from the University of South Africa.
Iwan Williams - Exploration Manager
Iwan Williams is an exploration geologist with over 20 years' experience across a broad range of commodities, principally iron ore, manganese, gold, copper (porphyry and sed. hosted), PGE's, nickel and other base metals, as well as chromitite, phosphates, coal and diamond.
Williams has extensive southern and west African experience and has worked in Central and South America. His experience includes all aspects of exploration management, project generation, opportunity reviews, due diligence and mine geology. He has extensive studies experience having participated in the delivery of multiple project studies including resource, mine design criteria, baseline environmental and social studies and metallurgical test-work programmes. He is very familiar with working in Africa having spent 23 years of his 28-year geological career in Africa. Williams is a graduate of the University of Liverpool.
Abdul Razak - Country Manager
Abdul Razak has extensive exploration, resource evaluation and project management experience throughout West Africa with a strong focus on data-rich environments. He has extensive gold experience having worked throughout Ghana with AngloGold Ashanti, Goldfields Ghana, Perseus and Golden Star, as well as international exploration and resource evaluation experience in Burkina Faso, Liberia, Ivory Coast, Republic of Congo, Nigeria and Guinea.
Razak is an integral member of the team, managing all site activities including drilling, laboratory, local teams, geotech and hydro, community consultations and stakeholder engagements and was instrumental in establishment of the current development team and defining Ghana’s maiden lithium resource estimate. He is based at the project site in Ghana.
Federal Licences Granted at Radium Point U-Co-Ag Project
Drilling Completed at Reedy South Project
White Cliff Minerals Limited (“the Company”) (ASX: WCN) is pleased to provide an update on its Radium Point Uranium-Copper-Gold-Silver Project and Reedy South Gold Project.
Highlights
- White Cliff has been granted all federal licences for its Radium Point Uranium-Copper-Gold- Silver Project: All the remaining exploration licences (2,813km2) have now been granted at Radium Point project, situated on Great Bear Lake in the Canada’s Northwest Territories, following approvals by the Government of Canada.
- The Company has completed drilling at the Reedy South Gold Project: Exploratory drilling has been wrapped up at White Cliff’s 100%-owned Reedy South Gold Project in the Cue Goldfields region of Western Australia. The program was designed to test strike and depth-extensions to the existing inferred 2012 JORC mineral resource estimate of 42,400 ounces of gold1. All samples are now undergoing assaying at Perth laboratories.
- A geochemical campaign is nearing completion at Lake Tay (Johnston) Gold-Lithium Project and Diemals Gold-Copper-Lithium-Nickel Project: White Cliff is undertaking a targeted soils and bedrock sampling program across the largely unexplored and emerging mineral province of Lake Johnston in WA, with the Company’s exploration effort currently nearing completion.
Commenting on the update, White Cliff, Managing Director - Troy Whittaker said:
“Having these final federal licences granted at Radium Point is the last phase of our application process and the milestone where we now fully transform from applications under assessment to exploration- ready at our multi-metal project in Canada.
“Significant preparatory works are now either complete or underway for the upcoming summer field season in Canada where we are excited to deploy our teams on-ground.
“Our initial focus at Radium Point and Nunavut projects in Canada will be infield rock chip sampling, reconnaissance, and the airborne MobileMT geophysical survey which will then be followed up by our maiden drilling campaign which we very much look forward to.
“Our focus at Reedy South in Western Australia was to identify potential expansions to the known JORC resource. With this campaign now concluded and those assays at the laboratory, we look forward to the results.”
Click here for the full ASX Release
This article includes content from White Cliff Minerals 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.
Dog-Leg Delivers Further High-Grade Intersections Resource Extension Drilling Results Ewoyaa Lithium Project, Ghana, West Africa
27m at 1.85% Li2O from 126m returned at Dog-Leg target, outside of current MRE1
Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce further broad and high-grade assay results from resource drilling completed at the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana, West Africa.
Highlights:
- Assay results received for 4,101m of extensional resource drilling at the Dog-Leg target and sterilisation reverse circulation (“RC”) drilling at the proposed plant site, respectively, representing the first results from drilling completed in 2024.
- High-grade and broad extensional drill intersections reported at the new Dog-Leg target, outside of the current 35.3Mt @ 1.25% Li2O JORC (2012) compliant Ewoyaa Mineral Resource Estimate1 (“MRE” or the “Resource”), including highlights at a 0.4% Li2O cut-off and a maximum 4m of internal dilution of:
- GRC0177: 27m at 1.85% Li2O from 126m
- GRC1059: 15m at 1.08% Li2O from 126m
- GRC1058: 8m at 0.93% Li2O from 88m
- Results at Dog-Leg are significant; drilling has intersected shallow dipping, near surface mineralised pegmatite bodies with true thicknesses up to 35m outside of the MRE1, proving potential for significant resource growth.
- Assay results reported include a total of 3,177m of plant site sterilisation drilling completed, as part of the planned 2024 programme, with no mineralisation intersected, providing confidence in the proposed plant site location.
- MRE upgrade, for both lithium and feldspar, to incorporate all drilling completed in 2023 and so far in 2024, now targeted for mid-year.
Commenting on the Company’s latest progress, Neil Herbert, Executive Chairman of Atlantic Lithium, said:
“Initial assay results from the drilling completed so far in 2024 have again delivered impressive intersections, providing confidence in the growth potential of the current 35.3Mt @ 1.25% Li2O Resource at the Ewoyaa Lithium Project.
“These results are from the new Dog-Leg target, located on the northern tip of the Ewoyaa Main deposit, outside of the current MRE, where drilling has returned multiple high-grade and broad near surface extensional intersections, including 27m at 1.85% Li2O from 126m in these most recent results.
“We look forward to receiving further drilling results from the diamond tail drilling completed at Dog-Leg and delivering a MRE upgrade for the Project, now targeted for mid-year. The MRE upgrade will include updates to both the lithium and feldspar and incorporate all results received from drilling completed in 2023 and results from drilling completed so far during 2024.
“Furthermore, assay results have confirmed no mineralisation has been intersected at the plant site sterilisation drilling programme, allowing us to continue with our mine site designs and permitting.
“We look forward to updating shareholders on our ongoing progress.”
Click here for the full ASX Release
This article includes content from Atlantic 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.
Highly Experienced Lithium Professional Appointed as Managing Director
Premier1 Lithium Limited (ASX:PLC) (“Premier1” or the “Company”) is pleased to announce the appointment of Mr Jason Froud as Managing Director effective 1 June 2024. This appointment following an extensive executive search process marks an important milestone in the transition of Premier1 into a significant junior lithium explorer.
HIGHLIGHTS
- Highly experienced lithium professional Jason Froud appointed as Managing Director
- Former Business Development Manager of Liontown Resources (ASX: LTR)
- Over 25 years experience in the resources sector focusing on lithium and battery metals
- Appointment will drive exploration and further growth of Permier1 Lithium’s portfolio
Premier1’s Non-Executive Director Anja Ehser commented:
“We are delighted to appoint Jason as Managing Director. Jason is the former Business Development Manager of Liontown Resources where he has played a leading role in generating a pipeline of new major lithium and battery metals projects in Australia. He brings tremendous experience and expertise in assessing and valuing lithium assets that will assist Premier1’s growth using our unique lithium data sets.
On behalf of the Board, I am delighted to welcome Jason to our Company. We look forward to working closely with him to create shareholder value through continued development of our existing exploration assets and further project opportunities.”
Incoming Managing Director Jason Froud said:
"l am excited to accept the role of Managing Director at Premier1. The Company has the vision, commitment and importantly, the backing to build Premier1 into a successful junior explorer and maximise the chance of exploration success with its industry leading machine learning technology.
I am impressed at the rigour and diligence the team has applied in assembling the current exploration package and look forward to the opportunity to fully test this and enhance it with further organic growth or M&A activity. Recent months have been challenging for battery minerals but I am confident in the underlying demand for EV metals and strong recovery in the sector.
I look forward to working closely with Premier1's Board and shareholders, and to delivering value for all stakeholders.’
The Board and entire team of PLC again would like to thank Richard Taylor, the current CEO, for his contribution and commitment during the past transition of PLC and is pleased to have him remain part of the Company as non-executive Director from June onwards.
In addition to the management, further additions are planned to be made to the leadership team at PLC to align with the new strategy.
Click here for the full ASX Release
This article includes content from Premier1 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.
Next Generation DLE Provider Electralith Produces 99.9% Pure Battery-Grade Lithium Hydroxide from Mandrake Brine
Mandrake Resources Limited (ASX: MAN) (Mandrake or the Company) advises that next- generation Direct Lithium Extraction (DLE) and Refining provider ElectraLith Pty Ltd (ElectraLith) has produced 99.9% pure battery grade Lithium Hydroxide directly from Mandrake’s 100%-owned flagship 93,755 acre (~379km2) Utah Lithium Project brines.
Highlights
- Rio Tinto-backed Direct Lithium Extraction (DLE) and Refining company ElectraLith has successfully produced 99.9% pure battery-grade Lithium Hydroxide from Mandrake’s 100%-owned Utah Lithium Project using it’s cutting-edge DLE-R process
- Requiring no water or chemicals, ElectraLith’s Direct Lithium Extraction and Refining (DLE-R) process has greatly enhanced the potential of the Utah Lithium Project
- The production of battery-grade Lithium Hydroxide direct from brine revolutionises DLE by skipping the conventional interim step of producing lithium carbonate using costly, carbon intensive converters
- Mandrake and ElectraLith progressing a Strategic Partnership Agreement to facilitate the construction of a DLE-R pilot facility at the Utah Lithium Project
Figure 1: DLE-R - Production of Lithium Hydroxide directly from Utah Lithium Project brine
ElectraLith's DLE and Refining (DLE-R) technology processed brines in parallel from both Mandrake’s Utah Lithium Project and Rio Tinto’s globally significant Rincon lithium brine project in Argentina.
Spun out of Monash University and backed by Rio Tinto and IP Group Australia, ElectraLith’s DLE-R is emerging as one of the cleanest, fastest, most versatile and cost-efficient methods of extracting and refining lithium. It’s proprietary electro-membrane technology requires no water or chemicals and can run entirely on renewable power, making it ideal for the water and resource constrained Paradox Basin.
Mandrake sent ElectraLith brines from the Lisbon B-912 well - one of the lower lithium concentration bulk samples from sampling activities undertaken in December 2023. The Lisbon B-912 brines contained 65.6mg/L lithium whilst the Big Indian #1 well (bulk sample sent to DLE provider Electroflow – results expected shortly) brines contained lithium concentrations of 147mg/L. Please see Mandrake’s ASX release of 22 January 2024 and Table 1 attached for further details.
ElectraLith’s work represents the groundbreaking production of Lithium Hydroxide direct from Mandrake’s Utah Lithium Project brines. It also confirms DLE-R’s ability to do so without consuming water or chemicals, greatly enhancing the potential of the Utah Lithium Project.
The ability of ElectraLith’s DLE-R technology to produce battery grade Lithium Hydroxide directly from brine revolutionises DLE by completely circumventing the conventional interim steps of lithium processing, being the production of lithium chloride and lithium carbonate, which often involves the use of costly, carbon intensive converters.
The relationship between ElectraLith and Mandrake is non-exclusive, enabling Mandrake to continue exploring and assessing other competing DLE technologies. To that end, Mandrake is currently awaiting test results from bulk brine samples sent to the Bill Gates-backed US- based DLE company Electroflow (see ASX release dated 22 December 2023).
Figure 2: James Allchurch (Mandrake), Dr SJ Oosthuizen (ElectraLith) and Charles MacGill (ElectraLith) at ElectraLith’s
Managing Director James Allchurch commented:
‘DLE technology is absolutely critical to the future of lithium and the broader global energy transition. Our research into this innovative technology has been comprehensive, quickly identifying ElectraLith as one of the leaders in the field. The ability for ElectraLith’s DLE-R to produce Lithium Hydroxide directly from brine using limited power, no water and no chemicals is revolutionary in the DLE space, putting Mandrake’s US-based brine asset in a commanding position.
I look forward to concluding a partnership agreement with ElectraLith which will facilitate the construction of a DLE-R facility at Mandrake’s Utah Lithium Project.
Furthermore, the maiden Mineral Resource Estimate for the Utalh Lithium Project is well advanced, and I look forward to updating the market when complete.’
Click here for the full ASX Release
This article includes content from Mandrake 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.
Pursuit Minerals: Tier 1 Lithium Play in the Prolific Lithium Triangle in Argentina
Pursuit Minerals Ltd. (ASX:PUR), a top-tier lithium exploration and development company focuses on its flagship Rio Grande Sur lithium project in the Salta Province of Argentina. Rio Grande Sur lithium project is located in an area known as the Lithium Triangle which hosts 50 percent of the global lithium resources and 40 percent of the current global lithium production.
Rio Grande Sur lithium project spans an area of 9,260 hectares on the Rio Grande Salar and is adjacent to several operating lithium mines and development operations, including Acradium Lithium’s Fenix lithium mine and the Olaroz lithium mine.
Pursuit is also focused on the production of lithium carbonate to meet the supply side response to growing lithium demand. Recently, the company announced the first phase of operations of its 250 tons per annum (tpa) pilot plant to produce lithium carbonate. The plant will generate both technical and battery grade lithium carbonate at a purity of 99.95 percent, employing a conventional evaporation process.
Company Highlights
- Pursuit Minerals is an ASX-listed company focused on advancing a pre-production lithium brine operation in Argentina.
- The company’s flagship Rio Grande Sur project covers 9,233 hectares on the Rio Grande Salar, in the Salta Province of Argentina located in the Lithium Triangle. The region is home to 50 percent of global lithium resources and 40 percent of world production.
- The acreage owned by Pursuit is situated within an Ni 43-101 inferred resource of 2.1 million metric tons of lithium carbonate equivalent (LCE), with an average grade of 370 milligrams per litre (mg/L) extending to a depth of 100 metres.
- Pursuit delivered a maiden JORC Inferred Mineral Resource Estimate (MRE) of 251.3 kt LCE at 351 mg/L at the Rio Grande Sur Project. With its current Stage 1 drilling program currently underway, Pursuit is targeting a material resource upgrade in the second quarter of 2024, which will build on the recent inferred maiden resource.
- The company has commenced the first phase of operations to produce lithium carbonate at its recently commissioned pilot plant, which is expected to achieve an operational capacity of 250 tons per annum (tpa). This is a significant milestone in the journey to advance toward the first production at Rio Grande Sur.
- Despite temporary fluctuations in lithium carbonate prices, the market continues to demonstrate resilience, with long-term projections indicating a significant 225 percent surge to reach 2.6 million tons of LCE worldwide by 2030.
This Pursuit Minerals profile is part of a paid investor education campaign.*
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Black Mountain Drilling Results
Chariot Corporation Limited (ASX:CC9) (“Chariot” or the “Company”) advises it has received the results of drill holes four to nine (the “Last Six Holes”) from the Phase 1 Drill Program at the Black Mountain Project, in Wyoming, U.S.A. (“Black Mountain”).
HIGHLIGHTS:
- Completed Black Mountain Phase 1 Drill Program consisting of nine (9) shallow holes, with a total of 1,132m drilled
- The Phase 1 Drill Program intersected high-grade spodumene mineralisation and has confirmed the exploration potential of Black Mountain and resulted in the identification of a potentially large pegmatite stock at a shallow depth (100 - 200m) to the east of the Phase 1 Drill Program area
- The first three holes (as announced on 2 February 2024), which tested the outcropping pegmatites returned high grade intercepts of 0.8 to 1.12% Li2O over intervals of + 14m
- The last six holes which were assayed subsequent to 2 February 2024, (BMDDH23_04 to 09) intersected broad intervals, 40-85m, containing thin, <1m pegmatite dikes, averaging between 0.1% to 0.2 % Li2O
- Reprocessing and reinterpretation of ground magnetics data shows a large magnetic low at depths of 100m or more, which is likely to be a pegmatite stock and the source of the folded pegmatite sills which are exposed at-surface
- The high-Li and, more significantly, the low-Li pegmatites were both highly fractionated indicating a potential for the low-Li pegmatites to be petrogenetically linked to the spodumene pegmatites as an the low-Li edges of a larger Li-rich pegmatite
- The Company is preparing to lodge an “exploration plan of operations” for the Phase 2 Drill Program that would increase the limit of disturbance from the mere 5 acres under which the Company is currently operating to 2,500 acres
Chariot commenced the Phase 1 Drill Program at Black Mountain on 9 November 2023 to determine the widths and grade of outcropping pegmatite dikes in the central portion of the Black Mountain Project with a Boart Longyear LF90 surface diamond core drill rig. The First Three Holes (which were announced on 2 February 2024) tested the outcropping pegmatites and returned high grade intercepts of 0.8 to 1.12% Li2O over intervals of + 14m.
Subsequent to the announcement on 2 February 2024, the Company completed the drilling and assaying of the Last Six Holes, which intersected broad intervals, 40-85m, containing thin, <1m pegmatites dikes, which typically assayed between 0.1% to 0.2 % Li2O.
The Phase 1 Drill Program has provided encouraging results from the First Three Holes. The assay results from the Last Six Holes yielded lower lithium grades but were nevertheless encouraging in terms of the anomalous lithium values and more particularly in terms of the level of fractionation, as shown by the geochemistry of the low-Li pegmatites.
The high-Li and, more significantly, certain of the low-Li pegmatites were both highly fractionated indicating a potential for the low-Li pegmatites to be genetically (and potentially physically) linked to the spodumene pegmatites as the low-Li edges of a larger Li-rich pegmatite.
The Company has in conjunction with the Phase 1 Drill Program, reprocessed and reinterpreted the surface mapping and ground magnetics data, causing the Company’s geologists to modify their initial structural interpretation of the pegmatite dikes as folded but steeply dipping to folded sills (See Figures 1, 2 and 3). Under the revised structural interpretation, it would appear that what is exposed at surface and what was drilled under the Phase 1 Drill Program were folded pegmatite sills which are offshoots from a large unexposed Pegmatite Stock, which manifests as a large magnetic low at depths of 100m or more to the southeast of the location of the Phase 1 Drill Program area (Figure 1).
The intersection of high lithium grades in the First Three Holes, combined with the geochemistry showing similarly high levels of fractionation in both the high-Li and certain of the low-Li pegmatites, and the reprocessed ground magnetics data indicate the potential for a large LCT pegmatite system that should be tested through additional exploration.
The combination of a restrictive 5 acre disturbance limit under the drilling permit obtained by the Company and adverse weather conditions severely limited the extent of drilling that could be completed during the Phase 1 Drilling Program.
The Company is eager to advance to the next phase of drilling at Black Mountain and is positioning itself to do so with a substantially liberalized disturbance limit.
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This article includes content from Chariot Corporation, 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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