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![Diamond Drilling Program Commences at Caladão](https://investingnews.com/media-library/image.png?id=53059230&width=1200&height=796)
Diamond Drilling Program Commences at Caladão
Axel REE Limited (ASX: AXL, “Axel” or “the Company”) is pleased to advise the commencement of a robust drilling program at its 100% owned and highly prospective, but yet underexplored Caladão Project (Caladão). Caladão is located in a region known as the Lithium Valley in Minas Gerais, Brazil, where many major lithium discoveries have been made, including Sigma Lithium Corp’s Grota do Cirilo LCE mine. Axel is the first company to realise the area's potential for high-grade REE mineralisation in the well-known mining region and with excellent access to infrastructure.
HIGHLIGHTS:
- Phase 1 exploration program to commence at the Caladão REE Project as part of the 20,000m drill campaign planned over the next 2 years
- Aggressive diamond drilling aims to extend the open REE mineralisation at two prospects (Area A and Area B) that previously uncovered 25km of mineralised strike, including a large radiometric circular structure at Area B
- Phase 1 program will also test the depth of the clay profile with diamond drilling the most effective method to drill to bedrock. Previous auger drilling (to average 15m depth) indicated REE mineralisation is open at depth
- This first program will include 52 holes and is anticipated to total ~2,600 metres of diamond drilling
- Phase 1 program at Caladão opens Axel’s aggressive IPO exploration strategy, with Caldas (Poços de Caldas REE) and Itiquira (Mato Grosso REE/Nb) Phase 1 campaigns to follow in the coming weeks
Axel holds ~400km² in exploration permits and applications at Caladão, which is one of four prospective rare earth elements (REE) and niobium (Nb) projects 100% owned by the Company that covers over 1,100km².
Managing Director, Dr Fernando Tallarico, said:
“Having successfully completed Axel’s IPO, we are now in the position to immediately embark on our strategy to unlock value in our highly prospective Caladão Project, in the Lithium Valley, by launching our Phase 1 2,600m diamond drilling program. This program holds immense potential as the historical auger results defined two target areas that spanned a combined strike length of 25km with mineralisation open at depth, laterally, and along the strike.
Diamond drilling will cross the entire regolith profile, and only cease once the bedrock is reached. This approach will enable us to comprehensively examine the entire clay profile, map the zoning of the clay horizons, and determine the true thickness of the potentially REE-bearing clay zone. We are also targeting a large circular radiometric structure at Area B and have planned our program to be fluid where we will follow the richest areas as results progressively return.
This Phase 1 program forms part of our 20,000m program planned at Caladão and aligns with our IPO strategy to aggressively work our projects. Our Caldas Project in the world-class Poços de Caldas Alkaline Complex and Itiquira REE/niobium project will progressively follow and we are excited for the continuous newsflow to come.”
Figure 1 – Map of the Axel REE’s 100% owned projects in Brazil.
Previous geochemical and shallow auger drilling programs completed by the Company in 2023 that covered only ~20% of the Project, determined two highly prospective targets (Area A and Area B), with elevated soil samples up to 3,547 ppm TREO and auger drill intercepts up to 2 metres @ 7,612 ppm TREO, with the thickest intercept including 18 metres @ 2,678 ppm TREO. All mineralised auger holes ended in mineralisation denoting that the true thickness of the REE mineralisation is yet to be determined. The prospective area is large-scale, covering more than 400km2 with Area A and Area B both open in all directions (along-strike and laterally).
Click here for the full ASX Release
This article includes content from Axel REE, 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.
Mining exploration entity or oil and gas exploration entity quarterly cash flow report
Jindalee Lithium Limited is pleased to release its quarterly cash flow report.
Click here for the full ASX Release
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.
Quarterly Activities Report and Appendix 5B
The Board of European Lithium Limited (ASX: EUR, FRA: PF8, OTC: EULIF) (European Lithium or the Company) is pleased to present its activities report and Appendix 5B for the three months ending 30 June 2024.
SUMMARY OF KEY UPDATES
- Critical Metals Corp. Form F-1 declared effective by the SEC
- Critical Metals Corp receives funds of US$15million from BMW
- Critical Metals Corp completes the acquisition of a 42% equity stake in the Tanbreez Project
- CRML closing price on 29 July 2024 was $US10.15 per share reflecting a value for EUR shareholders of US$688,052,087 (A$1,032,078,131)
- Preparation for exploration program at the Austrian Lithium Projects is ongoing, additional targets identified
- EUR announces the acquisition of 100% of the issued capital of LRH Resources, a fully owned subsidiary of Technology Metals plc, a UK based company, which is the 100% holder of the Leinster Lithium Project located in Ireland for CRML share consideration.
- E47/4144 located in the northwest of Western Australia continues to progress through the WA Mining Act regulatory application process.
EXPLORATION AND DEVELOPMENT ACTIVITIES
Critical Metals Corp
Austria
On 1 March 2024, the Company announced the completion of the business combination agreement with Sizzle Acquisition Corp., a US special purpose acquisition company listed on NASDAQ (NASDAQ:SZZL) (Sizzle), pursuant to which EUR combined its wholly owned Wolfsberg Lithium Project (Wolfsberg Project) with Sizzle via a newly-formed, lithium exploration and development company named “Critical Metals Corp” (Critical Metals or CRML) which is listed on the NASDAQ (Transaction). Critical Metals commenced trading on the NASDAQ on 28 February 2024. On 23 May 2024, the Company announced that the registration statement on Form F-1 of Critical Metals was declared effective by the United States Securities and Exchange Commission (SEC) on 22 May 2024.
Click here for the full ASX Release
This article includes content from European 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.
Lithium Universe Quarterly Activities/Appendix 5B Cash Flow Report
Lithium Universe (ASX:LU7) is pleased to present its Quarterly Activities/Appendix 5B Cash Flow Report - June 2024.
Closing the Lithium Conversion Gap in North America
- Lithium Universe to convert supply in North America
- Geopolitical shift to onshore the battery supply chain
- LFP batteries expected to capture 87% of the ESS market share by 2033
- Strong Federal and Provincial government financing support within the industry
Application for 22.5 Mw Green Power for Bécancour Lithium Refinery
- Lithium Universe application for 22.5 MW of green power for Bécancour Lithium Refinery
- Hydroelectricity has significant cost effective advantage
- Strategy to produce greener battery grade lithium carbonate
- Application only for train 1 of 16,000 tpa battery grade lithium carbonate
Lithium Universe Completes Two Environmental Field Studies at Bécancour Site
- No significant biological issues reported by environmental team
- Wetlands identified are of low ecological value
- Further environmental surveys planned
Lithium Universe Board Visits Operating Refineries in China
- LU7 Board and CEO travel to China to meet with existing lithium refineries
- Team validates existing design process improvements with existing operators
- Jiangsu Refinery built by Galaxy maintains benchmark LU7 construction philosophy of Jiangsu-style refinery reinforced
- Chinese converter expansions focussed on lithium carbonate
Bécancour Lithium Refinery Design Proving to Handle Various Spodumene Types
- Testwork conducted to Linyi University Lithium Research Centre
- Second batch completed and meets stringent battery grade specs
- Not often achievement of battery grade on first pass programs
- Metallurgical testing on various international sources of spodumene
- Able to process spodumene from any part of the world
Procurement Strategy for Bécancour Lithium Refinery
- Procurement strategy for Bécancour Lithium Project
- “Same equipment, same supplier” strategy
- Board visit to Hatch's Shanghai procurement office
- Proven equipment and same suppliers fast tracks engineering
- Jiangsu used 70% of Chinese top quality suppliers
Bécancour Lithium Refinery 3D Layout Completed
- DFS Engineering work producing significant progress
- 3D model and plot plan layout completed
- Plant layout strategy for efficient space utilisation
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This article includes content from Lithium Universe, 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.
Quarterly Activities/Appendix 5B Cash Flow Report
Chariot Corporation Limited (ASX: CC9) (“Chariot” or the “Company”) is pleased to present our Activities Report and Appendix 5B for the period ending 30 June 2024. During the second quarter of 2024 Chariot announced final assays from the maiden diamond drilling program at Black Mountain (“Phase 1 Drilling Program”) and the recommencement of exploration activities in Wyoming, USA for the North American summer.
- Core assay results from the maiden drilling campaign have further delineated the structure of the Black Mountain LCT pegmatite system
- Hard rock lithium exploration recommenced in Wyoming with the onset of the 2024 North American summer season
- Rock-chip/Soil sampling and K feldspar testing underway to further refine drill targets
- Chariot group holds approximately A$3.04 million of cash as at 30 June 2024
Black Mountain Project
Phase 1 Drilling Program
On 3 May 2024, the Company announced the full set of assay results from the Phase 1 Drilling Program, consisting of nine (9) drill holes for a total of 1,132m. The first three (3) holes all intersected high-grade spodumene mineralisation confirming the potential of the Black Mountain lithium-caesium-tantalum (“LCT”) pegmatite swarms. Although the last six (6) holes yielded lower lithiumgrades, these holes were nevertheless encouraging in terms of the anomalous lithium values and, more particularly, the level of fractionation as identified through the geochemistry. The high-Li pegmatites and, more significantly, the low-Li pegmatites were highly fractionated indicating a potential for the low-Li pegmatites to be petrogenetically linked to the spodumene pegmatites as the low-Li edges of a larger Li-rich pegmatite.
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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.
Battery-Grade Lithium Carbonate Produced from McDermitt
Jindalee Lithium Limited (Jindalee, the Company) is pleased to announce that battery-grade lithium carbonate has been successfully produced from ore from the McDermitt Lithium Project (the Project) (Figure 1). This marks an important milestone, with all steps of the processing flowsheet for the Project from ore beneficiation and leaching to purification and production of battery-grade lithium carbonate now validated (Figure 2).
- First production of Battery-Grade Lithium Carbonate (>99.5%) from test work completed at Hazen Research Inc. in collaboration with Fluor - lead engineer for the PFS underway at the McDermitt Lithium Project
- Production of Battery-Grade Lithium Carbonate marks a major milestone with all steps of the McDermitt flowsheet now validated
- Flowsheet for McDermitt is very similar to Lithium Americas’ Thacker Pass Project currently under construction 30km to the south of McDermitt
- Results will support the PFS, due for release in Q4 CY 2024
Fig 1 – McDermitt Lithium Carbonate
Jindalee’s CEO Ian Rodger commented:
"The successful production of battery-grade lithium carbonate from McDermitt ore is a major milestone for Jindalee. This achievement substantially de-risks our processing flowsheet and demonstrates the potential for McDermitt to supply high-quality lithium chemicals to the expanding US battery value chain.
We have been greatly encouraged by the exceptional results we have achieved since commencing the PFS metallurgical test work program with Fluor and Hazen in mid-2023 and anticipate that these results will meaningfully support the outcomes of the McDermitt Lithium Project PFS which is now due for release in Q4 CY 2024.”
Discussion
After investigating various alternatives, in March 2023 acid leaching with beneficiation (see Figure 2) was selected as the preferred flowsheet for the Project2. This decision followed a review of prior test work and high-level benchmarking of five comparator lithium projects by the global engineering, procurement, construction and maintenance company Fluor Corporation (Fluor), which indicated that acid leaching with beneficiation was expected to produce the best economic outcome for the Project. The resultant McDermitt flowsheet (Figure 2) is very similar to that utilised and extensively validated by Lithium Americas Corporation (TSX: LAC) at its Thacker Pass project, which is currently under construction and is also located in the McDermitt Caldera (~30km south of the McDermitt Lithium Project).
Fluor was subsequently appointed as lead engineer for the McDermitt PFS in June 20233, including managing an extensive bench scale metallurgical test work program at Hazen Research Inc. in Colorado, USA, aimed at validating the preferred flowsheet and providing data to inform the PFS (PFS Test Work). To date Jindalee has announced exceptional results from the McDermitt PFS Test Work including results from beneficiation test work in November 20234 and acid leaching in January 20245. Respective highlights include:
- Beneficiation: Beneficiation of a composite sample of McDermitt ore using attrition scrubbing (250μm cut-size), recorded 92.0% Li recovery with 25.3% mass rejection, demonstrating the excellent potential to remove acid consuming material and increase the Lithium grade of leach feed4.
- Acid Leaching: Excellent lithium (Li) extraction rates were achieved from sulphuric acid leaching of beneficiated McDermitt ore. Li extraction from composite samples averaged 93% (250μm) and 94% (75μm) using 500kg sulphuric acid per tonne of leach feed5.
Subsequent to the acid leaching test work described above, an additional 300 kg composite sample (250 µm, comprising Units 4, 6, 8, and 10) was leached, yielding lithium in solution (leachate) for downstream test work (post-leach process steps – see Figure 2). The purification of the lithium-rich solution was successfully completed, resulting in the first production of battery-grade lithium carbonate, assaying 99.8% Li₂CO₃ with acceptable levels of deleterious elements in accordance with a typical third-party contract specification. This achievement significantly de-risks the Project by demonstrating the effectiveness of all process steps of the flowsheet at bench scale. Reaching this milestone provides strong validation of the flowsheet developed for McDermitt.
Avenira Limited (ASX: AEV) – Reinstatement to Quotation
Description
The suspension of trading in the securities of Avenira Limited (‘AEV’) is expected to be lifted from the commencement of trading on Wednesday, 31 July 2024 following the release by AEV of an announcement regarding a placement.
Issued by
ASX Compliance
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This article includes content from Avenira 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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