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Li3 Lithium Corp. Reports up to 4.14% Lithium Oxide in Surface Rock Samples at the Mutare Lithium Project
Li3 Lithium Corp. (TSXV: LILI) (FSE: WD9) ("Li3 Lithium" or the "Company") is pleased to announce that it has identified high-grade lithium targets from its ongoing exploration program at the Mutare Lithium Project, located in Zimbabwe. Li3 Lithium holds a 50% ownership interest in the Mutare Lithium Project, with the remaining 50% owned by Premier Africa Minerals Limited, operator of the Zulu Lithium and Tantalum Mine in Zimbabwe.
The Company, as operator of the Mutare Lithium Project, has received assay results from seventy-two grab samples collected during the initial phase of the 2023 exploration program. The exploration program includes geological mapping, and a surface rock sampling program to assist in identifying priority targets for the trenching and 5,000-meter exploration drilling program, scheduled to start in the coming weeks.
Highlights:
- 72 samples sent for analysis in April
- Highest grade returned in initial phase is 4.14% Lithium Oxide ("Li2O") from the Nels Luck group of licenses
The preliminary surface rock sampling program consisted of 72 samples taken from across the Mutare Lithium Project (Table 1, Figures 1-2,). The grab samples were from the central and eastern section of property, including the Nels Luck group of licenses, situated in the Mutare Greenstone Belt ("MGB") East zone, one of many target areas within the Mutare Lithium Project, comprised of approximately 2,000 hectares of licences retained in the MGB. The Nels Luck license hosts a group of lepidolite, spodumene, and tantalite, bearing lithium-cesium-tantalum pegmatites with an approximate surface expression of 600 meters by 20 meters (up to 50m) (Figure 2). The Nels Luck group of licenses is situated about 15 km northeast in the same stratigraphic package, on the southern limb of a regional syncline, that hosts the Sabi Star Lithium Tantalum Mine.
Table 1: Summary of Lithium Oxide (Li2O) results from the Nels Luck area greater than 0.500%. Values are rounded to the nearest 0.001
Figure 1: Mutare Lithium Project License and Location map, identifying the location of the initial surface samples across the Mutare Lithium Project
François Auclair, P.Geo, M.Sc., CEO and President of Li3 Lithium commented, "The initial high-grade results, up to 4.14% lithium oxide, suggest the potential for high-grade lithium oxide mineralization at surface and at depth within the Eastern section of the property. We are anxious to commence the 5,000-meter exploration drilling program across the property with emphasis on the Nels Luck group of pegmatites."
Figure 2: Summary of grab sample results at Nels Luck greater than 0.50 %
Mutare Lithium Project, Zimbabwe
The Mutare Lithium Project is located adjacent to the Sabi Star Lithium Tantalum Mine in eastern Zimbabwe's Mutare Greenstone Belt, an emerging lithium district. Li3 Lithium is evaluating the acquisition of additional prospective ground, either through staking or agreements with potential vendors. The area was deemed prospective for lithium-cesium-tantalum pegmatites based on prior target generation work. Management believes the lithium exploration potential of the MGB is analogous to that of the Pilbara Craton pegmatites in Western Australia.
Zimbabwe, which is estimated to hold Africa's largest lithium resources and the fifth largest globally, is rapidly emerging as an important player within the lithium supply chain. Over the past year and a half, major Chinese battery metals companies have committed approximately US$1.4 billion to acquire and develop lithium projects in Zimbabwe.
Technical information
Quality Assurance and Quality Control of Li3 Lithium's sampling programs are under the control of the Company's geological employees and are consistent with industry best practices. Grab samples are transported by Li3 Lithium's employees following a defined chain of custody, to Zimlabs in Harare, Zimbabwe. All samples were pulverized to produce a 30g charge and then analyzed by G706 (multi acid digestion with AAS finish). Zimlabs is a subsidiary of GNK laboratories and an internationally accredited laboratory testing provider with ISO/IEC 17025:2005 certification (Laboratory Accreditation Number: TEST-S 0010 (lSO/lEC t7025:20t7l).
The Company intends to transport the pulp of the grab samples for analysis of Niobium (Nb), Tantalum (Ta), and Caesium (Cs) at an accredited laboratory in South Africa. Grab samples are selective by nature and reported values are not necessarily indicative of mineralized zones.
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.
APPENDIX 1: Grab sample summary table, coordinates are in WGS84 UTM Zone 36S
Edison Lithium: Transitioning to Sodium-ion Battery Technology
Edison Lithium (TSXV:EDDY) is pivoting towards sodium-ion battery technology while maintaining interests in lithium assets in Argentina. The company is divesting its cobalt projects in Canada via a spin-off into a new publicly listed company, Edison Cobalt. After the spin-off, Edison Lithium will comprise two divisions: Edison Saskatchewan and Edison Lithium.
Edison Saskatchewan will focus on advancing the company’s ambition to become a significant participant in the sodium-ion battery technology supply chain. The company acquired four alkali dispositions from Globex Mining Enterprises in August 2023 that encompass 4,564 acres located in Ceylon Lake, Freefight Lake, and the north and south areas of Cabri Lake, in Saskatchewan, Canada.
The Edison Lithium division comprises nearly 28,766 hectares of lithium brine claims located in Catamarca, Argentina. Edison Lithium retains eight mining claims, mostly located in the Pipanaco Solar basin in Catamarca.
Company Highlights
- Edison Lithium is a Canadian junior mining company that is pivoting towards sodium-ion battery technology. The company is restructuring its business by divesting lithium and cobalt assets while acquiring concessions for alkali that hosts sodium sulphate.
- The company acquired lithium assets in Argentina in 2021, comprising 148,000 hectares of lithium brine claims, but has sold 80 percent of these claims for three times their purchase price in December 2023. It continues to hold 20 percent, or 28,766 hectares, of lithium brine claims. The transaction corresponds with the company's strategic shift towards sodium-ion technology.
- The company has received approval to spin off its cobalt project located in Ontario, Canada, into a new company, Edison Cobalt, which will be listed on the TSXV.
- After the realignment, the company will comprise two divisions – Edison Lithium, focused on the remaining lithium claims in Argentina; and Edison Saskatchewan, focused on alkali dispositions in Saskatchewan, Canada.
- The alkali dispositions were acquired in August 2023 from Globex Mining Enterprises. This move underscores the company's strategic positioning in the burgeoning sodium-ion battery market, which is increasingly seen as a promising alternative to traditional lithium-ion batteries.
This Edison Lithium profile is part of a paid investor education campaign.*
Click here to connect with Edison Lithium (TSXV:EDDY) to receive an Investor Presentation
Galan Investor Presentation Singapore March 2024
Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to present its investor presentation.
This article includes content from Galan 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.
Extension To Share Purchase Plan
Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7") provides the following update regarding its $3.0 million Share Purchase Plan (SPP), as announced on 13 March 2024 (ASX release: LU7 Launches Share Purchase Plan).
Highlights
- Revised closing date for the Share Purchase Plan (SPP) is to be 10th April 2024
- Directors confirm their willingness to participate in the SPP
The Company has received feedback from several shareholders that due to the SPP closing date being just after the Easter holiday break, as well as difficulties encountered in shareholder’s taking up their entitlements, the Board has made the decision to extend the SPP offer date by one (1) week. By doing so, this will ensure that all shareholders have sufficient time to participate.
The revised indicative timetable for completion of the SPP is as follows, with the revised dates highlighted in blue *:
*Please note, the dates set out above are indicative only and are subject to change without notice to you. Any change in the timetable does not affect any rights or obligations you have as a result of accepting the SPP.
All LU7 directors who are eligible to participate in the SPP intend on taking up their SPP entitlement.
Should shareholders have any questions in participating in the SPP, including accessing their applications, then please contact the Company’s Joint Company Secretary, Kurt Laney at kurt.laney@vfassociates.com.au.
This article includes content from Lithium Universe 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.
Shareholders Resoundingly Support SPP
Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce the results of the Share Purchase Plan (“SPP”) announced on 31 January and 9 February 2024. The SPP was extended a week and closed at 5.00pm (AWST) on Friday 22 March 2024.
The Company received applications from eligible shareholders totalling just over $4 million which was well in excess of the original $1.5 million target raising. The demand from Galan shareholders under the SPP was testament to the continued support the Company has received from its loyal band of shareholders.
Under the SPP, eligible shareholders had the opportunity to purchase up to $30,000 worth of Galan shares irrespective of the size of their shareholding and without incurring brokerage or transaction costs. Shares issued under the SPP had an offer price of $0.46 per Share. One free attaching option (exercisable at $0.65 with a 5-year exercise period) will also be issued on the basis of one (1) option for every one (1) Share subscribed for and issued under the SPP (“Options”). The offer of Options under the SPP would be made pursuant to a transaction specific Prospectus which will be lodged with ASIC with the Company making an application to ASX for quotation of the Options.
The terms and conditions in the SPP Offer provided the Company with discretion to accept additional funds under the SPP should the Company receive valid applications over the original target amount. Accordingly, due to the overwhelming demand from eligible shareholders, the Company has exercised their discretion and increased the size of the SPP to $4.003 million.
A total of 8,702,150 fully paid ordinary shares (representing 2.2% of the current issued capital of Galan) and 8,702,150 Options will be issued under the SPP.
The Company would sincerely like to thank all its shareholders for their very strong support of the SPP.
Click here for the full ASX Release
This article includes content from Galan 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.
Galan Increases Total Mineral Resource by 18% to 8.6Mt LCE @ 859mg/L Lithium
Galan Lithium Limited (ASX:GLN) (Galan or the Company) is pleased to announce a further consolidating increase to its JORC (2012) reported Mineral Resource estimate for the Hombre Muerto West Project (HMW Project) located in Catamarca Province, Argentina. The revised Mineral Resource estimate was completed by a team of leading independent geological consultants, WSP Chile (WSP).
- Galan’s 100% owned Mineral Resources increase to 8.6Mt contained lithium carbonate equivalent (LCE) @ 859mg/L Li (previously 7.3Mt LCE @852mg/L Li)
- One of the highest grade resource estimates declared in Argentina
- Inclusion of Catalina tenure adds ~1.3Mt LCE to the HMW Resource
- HMW Measured Resource of 4.7Mt contained LCE @ 866mg/L Li
- Galan’s fourth significant resource upgrade since March 2020
- Resource upgrade cements Galan’s fully owned resource base and adds flexibility, optionality and leverage to any Li price upswing and supports Galan’s 4 stage long term production target of 60ktpa LCE (including Candelas)
The maiden HMW Project Mineral Resource Estimate (refer Galan ASX release dated 12 March 2020) was prepared by SRK and was further upgraded on 17 November 2020, 24 October 2022 and 1 May 2023. Each upgrade has not only significantly increased the Total Resource inventory but also enhanced the Resource category classifications and hence confidence in the viability and robustness of the HMW project. This latest resource upgrade enhances Galan’s objective to achieve the necessary production conditions for Stage 3 (40Ktpa LCE), towards our four-stage lithium production target of up to 60ktpa LCE (including Candelas).
Table 1 Mineral Resource Statement for Hombre Muerto West and Candelas (effective date 26 March 2024)
- No cut-off grade applied to the updated Mineral Resource Estimate.
- There may be minor discrepancies in the above table due to rounding.
- The conversion for LCE = Li x 5.3228, KCl = K x 1.907.
(*) Candelas North tenements are located about 40 km to the Southeast of the HMW Project. The Candelas North Mineral Resource Statement was originally announced by Galan on 1 October 2019.
Commenting on the significant Resource upgrade, Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, said:
“This latest significant upgrade in the high grade, low impurity HMW Resource highlights the potential enormity of the brine resource that sits within Galan’s 100% owned tenements in Argentina. The initial HMW resource in March 2020 was 1.08Mt LCE @ 946mg/L Li, upgraded in May 2023 to 6.6MT LCE @ 880mg/L Li. This has now been increased a further ~20% to a tier one size of 8.6Mt LCE at 859mg/L Li, with the inclusion of our Catalina tenements. Coupled with our Candelas resource, Galan has a very solid foundation, and more importantly has delivered a further validation that its Hombre Muerto Salar resources fully support our four-stage lithium production target of up to 60ktpa LCE.
The HMW Project is robust and underpinned by strong financial metrics as illustrated in its Stage 1 and Stage 2 DFS results. We constantly evaluate opportunities to increase the value of the HMW Project in parallel with continuing to construct Stage 1 as we look forward to first commercial production in 1H 2025.”
Summary of Resource Estimate and Reporting Criteria
The Mineral Resource Estimate (MRE) for lithium (reported as Li2CO3 equivalent) and potassium (KCl equivalent) were completed by WSP (Chile). This updated MRE incorporates geological and geochemical information obtained from thirty one (31) drillholes totalling 9,043 metres within the Pata Pila, Rana de Sal I, Rana de Sal II, Casa del Inca III, Catalina, Del Condor, Pucara del Salar, Delmira, Don Martin, El Deceo I, El Deceo II, El Deceo III and Santa Barbara tenements (see Figure 1). A total of 697 brine assays were used as the foundation of the estimate, all of which were analysed at Alex Stewart International laboratory (Jujuy, Argentina). The QA/QC program includes duplicates, triplicates, and standards, In total, 376 QA/QC samples were considered using Alex Stewart (duplicates) and SGS in Argentina (triplicates) as the umpired laboratory.
Click here for the full ASX Release
This article includes content from Galan 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.
Frontier Lithium: Lithium's Long-term Outlook Strong as EV "Evolution" Continues
Speaking to the Investing News Network (INN), Trevor Walker, president and CEO of Frontier Lithium (TSXV:FL,OTCQX:LITOF) shared details on the company's recent deal with Mitsubishi (TSE:8058).
With a definitive agreement to establish a joint venture partnership in hand, Frontier will be working on progressing Phase 1 and Phase 2 definitive feasibility studies for its PAK lithium project in Northern Ontario.
Phase 1 will focus on a mine and mill, while Phase 2 will look at a downstream refinery.
"We see strong potential for 100 million tonnes through two open pits outcropped right at surface," Walker explained on the sidelines of the Prospectors & Developers Association of Canada (PDAC) convention.
"The grade is 1.5 percent roughly — it's North America's highest-grade lithium asset, and the highest-quality spodumene. These are key — this is a key anchor resource in the Great Lakes region of North America," he added.
Sharing details on the Mitsubishi agreement, Walker noted that Frontier will have a 92.5 percent interest in the joint venture, while Mitsubishi will acquire a 7.5 percent stake through a C$25 million investment. Once a definitive feasibility study is complete, Mitsubishi will be able to increase its ownership to 25 percent by buying additional shares.
He also shared his long-term outlook for the lithium market, saying he expects demand for lithium carbonate equivalent to increase by three to four times by the mid-2030s. "(Lithium's) long-term fundamentals are very strong," he said. "The movement of internal combustion to electric vehicles is — I've always referenced it as an evolution, not a revolution."
Watch the interview above for more from Walker on the lithium market and Frontier's next steps with Mitsubishi. You can also click here for INN's full PDAC playlist on YouTube.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, 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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