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Li3 Lithium Corp Announces Filing of NI 43-101 for the Mutare Lithium Project in Zimbabwe
July 26, 2023
Li3 Lithium Corp. (TSXV: LILI) (FSE: WD9)("Li3 Lithium" or the "Company") is pleased to announce that it has filed a technical report, in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") for the Company's 50% owned Mutare Lithium Project located in Manicaland Province of northeastern Zimbabwe.
The Mutare Lithium Project consists of 66 claims of various sizes covering a surface area of 26.955 km2 along a 57 km northeast-trending strike of the highly mineralized Mutare Greenstone Belt. The large-scale operating Sabi Star Lithium Mine is directly adjacent to the Mutare Lithium Project claims located in the central region of the Mutare Greenstone Belt. The Mutare Lithium Technical Report documents and confirms the results of historical prospecting and exploration activities completed by previous owners of the property and recent data compilation, review and surface sampling work completed by the Company. It also provides additional information on the project's history, regional geology and history of artisanal and commercial lithium and tantalum mining, mineralization styles and exploration targets, and provides recommendations for exploration work.
In May 2023, Li3 Lithium Corp. and Premier African Minerals Limited entered into a joint venture shareholders agreement whereby each of Li3 Lithium and Premier African Minerals respectively hold an effective 50% partnership interest, with the two companies to jointly fund exploration work on the Mutare Lithium Project. Li3 Lithium has been named as operator of the project which is to be co-explored and co-developed with in-country expertise to be provided by Premier African Minerals, owner and operator of the Zulu Lithium Tantalum Mine located in Zimbabwe.
The technical report, titled "NI 43-101 Technical Report, Mutare Lithium Project, Zimbabwe", dated June 30, 2023 (with an effective date of June 30, 2023), was prepared for the Company in accordance with NI 43-101, by independent geological consultant, André Ciesielski, PGeo, D.Sc. and Francois Auclair, P.Geo. M.Sc., CEO and President of Li3 Lithium, co-authored the report as a non-independent Professional Geologist. The Mutare Lithium Technical Report is available on SEDAR (www.sedar.com) under the Company's issuer profile and on the Company's website (www.lithium3.com).
Qualified Person
François Auclair, QP, M.Sc, Quebec Order of Geologists, CEO and President of Li3 Lithium, is the non-independent qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects for the technical disclosure contained in this news release. Mr. Auclair has reviewed and approved the technical disclosure contained in this news release.
About Li3 Lithium Corp.
Li3 Lithium is focused on acquiring and developing hard rock spodumene lithium assets in Zimbabwe and Argentina, where the founders have significant experience and relationships. As evidenced by recent market growth, hard rock lithium deposits are forecast to continue to dominate the global supply of lithium given the scarcity, complexity and capex-intensive nature of alternative brine sources.
Contact Information:
Li3 Lithium Corp.
Francois Auclair, P.Geo, M.Sc., CEO and President
Tel: 514-889-5089
Email: info@lithium3.com
www.lithium3.com
CAUTIONARY STATEMENT:
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward- looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
LILI:CA
15h
Additional Land Acquired at Nunavut Cu-Ag-Au Project
Landholding includes numerous highly prospective copper, silver and gold targets
White Cliff Minerals Limited (“WCN” or the “Company”) is pleased to announce newly expanded licences covering adjacent high grade Nunavut copper, silver and gold (“Cu-Ag-Au” or the Project”) targets. These new areas have only recently been opened to application. These new targets enhance the overall strategic landholding the Company owns and now completes the original staking strategy.
Highlights
- Secured up to an additional 63 square km’s of highly prospective licenses covering newly available ground at the Nunavut Cu-Ag-Au project area
- These new granted licences cover several significant areas of anomalous Cu-Ag-Au:
- The Halo project, a highly prospective outcropping occurrence of Cu-Ag-Au. Previous drilling at Halo includes up to 4.7m @ 10.47% Cu, with mineralisation that remains open in all directions. This new area connects to the southern extension of the HALO system and compliments existing WCN tenure
- The Pat prospect1 includes numerous >40% Cu (above detection limit) rock chip samples across multiple veins
- Given the new ground is adjacent to existing granted licences these new areas will fit seamlessly into the Company’s upcoming exploration activities due to commence in Nunavut during the coming weeks
- WCN also has in application, and subject to regulatory approval, tenure that covers several other new targets, that it is hopeful of receiving these in due course:
- Lloyd: a quartz-chalcocite vein that was returned assay results of up to 2% Cu over ~3,600ft with a cross section of between 8 and 20 feet wide2,
- Larry: 1952 channel samples returned up to 8.03% Cu over 13.6ft 3, and
- Jack: Rock chip samples up to 45.4% Cu and 60g/t Ag from surface4.
“The Company is very pleased to have finally secured these additional 2 priority areas and concludes our strategy of acquiring the landholdings we wanted. These new licences are testament to the teams’ hard work and commitment to deliver for all shareholders. After stalking the process for several months and having assessed these areas in-depth previously, we were in pole position when this ground was released for application and I am pleased to say we were successful in securing the last missing pieces of our puzzle and hence our strategy of securing the most desired ground in the area is complete. There is now an obvious land rush in the broader Coppermine area and our first mover advantage has given us a huge head start in acquiring the premium ground and we are now pretty much surrounded by new entrants to the area small.
The fact that this land is cohesive to our existing project, has delivered similar high-grade rock chip results which shows a mineralised system opened in all directions, is a massive achievement. We are only a matter of weeks away from “boots on the ground” at Nunavut for the start of the inaugural field campaign and heli-mounted MobileMT survey, the latest technology for the collection of magnetic and conductivity data targeting both high-grade volcanic hosted copper-silver mineralisation and high-tonnage potential sedimentary hosted copper prospects.”
Troy Whittaker - Managing Director
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.
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05 July
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 update provides results and assays for drilling undertaken at the BP33 deposit throughout the 2021 field season. Drilling included deep mineral resource extensional drilling below existing BP33 mineralisation, as well as two diamond holes drilled to collect samples for variability metallurgical testwork and a small program of reverse circulation (RC) drilling to test for a southern extension to the pegmatite hosting mineralisation at BP33.
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.
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05 July
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
Click here for the full ASX Release
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.
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05 July
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.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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04 July
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.
Don’t forget to follow us @INN_Resource for real-time news updates!
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.
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04 July
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
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.
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