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Oceana Lithium Limited (ASX: OCN, “Oceana” or “the Company”) is pleased to report the final results from the phase one scout RC drilling campaign at its Solonópole Lithium Project in Ceará State, Brazil, which was successful in intercepting multiple thick pegmatites containing some anomalous Lithium and Tantalum grades at shallow depth.
Solonópole Lithium Project, Ceará, Brazil
- Last nine RC drill hole assay results from shallow scout drilling campaign confirm new Lithium-Caesium-Tantalum (LCT) pegmatite targets for deeper drilling in un-weathered zones at Tin Mine, Zilcar II and Rolados.
- All assay results received from 30 shallow scout RC drill holes (~2,000m) and validated by internal QAQC.
- Anomalous Lithium grades (up to 0.95% Li2O) and Tantalum grades (up to 380ppm) returned from seven drill holes (NGR-RC-002, NGR-RC-009, NGR-RC-014, SOL-RC-001, SOL-RC-002, SOL-RC-005 and SOL-RC-008), confirming their LCT nature.
- Best intercepts were from SOL-RC-008 at Zilcar II, with maximum value over 1m of 0.95% Li2O and Lithium mineralised zone from 46m to 53m (7m not true width) averaging 0.49% Li2O, including 3m at 0.69% Li2O.
- Over 8,300 soil samples collected from Solonópole and analysed by XRF for LCT pathfinders, of which 1,908 soil samples have also been analysed by SGS laboratory for Lithium.
- New data from geophysics and soil geochemistry anomalies indicates several swarms of pegmatite bodies striking in a NE-SW direction, showing more than one Lithium bearing pegmatite at the BJdB Pit; BJdB Central; Tin Mine; Zilcar II; and Rolados targets.
- RC results and other field data are being interpreted to support the next follow-up diamond drilling campaign.
Napperby Lithium Project, Northern Territory, Australia
- Completion of field work for soil geochemistry infill program with 107 sample points along ~30km of sample lines to better define and understand the anomalies highlighted by 2022 soil sampling program.
Oceana’s Senior Geologist and Competent Person James Abson said: “The scout drilling program has returned anomalous Lithium and Tantalum grades on five (BJdB Pit, BJdB Central, Tin Mine, Zilcar II and Rolados) of the seven targets tested so far. Oceana is now planning additional exploration activities including a Diamond Drilling campaign at Solonópole, which is now supported by more robust geological, geochemical and geophysical datasets.”
Solonópole Lithium Project, Brazil
As announced by Oceana on 7 August 2023 and 3 November 2023, the shallow scout RC holes (NGR-RC-001 to NGR-RC-022) completed at Bom Jesus de Baixo (“BJdB”) Prospect confirmed the presence of thick pegmatites in five different outcropping areas (BJdB Pit, BJdB Central, BJdB East, “Tin Mine” and “Lidiane”) on Permit 800306 (Figure 1).
Figure 1: Map showing completed RC scout drill holes at Bom Jesus de Baixo Prospect
Best scout drilling final results from the prospect include anomalous Lithium grades in three drill holes (NGR- RC-002, NGR-RC-009 and NGR-RC-014):
- BJdB Pit Area: NGR-RC-002, with maximum value over 1m of 0.83% Li2O. A Lithium mineralised zone exists from 23m to 38m (15m not true width) averaging 0.34% Li2O, including 6m at 0.50% Li2O. This hole is proximal to where spodumene was previously identified in the BJdB pit.
- BJdB Central Area: NGR-RC-009, with maximum value over 1m of 0.42% Li2O. A Lithium mineralised zone exists from 7m to 17m (10m not true width) averaging 0.20% Li2O, including 3m at 0.31% Li2O.
- Tin Mine Area: NGR-RC-014, with maximum value over 1m of 0.45% Li2O. A Lithium mineralised zone exists from 4m to 7m (3m not true width) averaging 0.32% Li2O.
Although neither spodumene nor lepidolite was visually identified in the very fine RC chips, the geochemical assay signatures (low P, and low Rb and Cs) indicate that the Lithium bearing mineral is spodumene, which is known to be present at surface in a weathered state. XRD analysis will be undertaken to confirm this observation.
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OCN:AU
Oceana Lithium
Overview
A lot can change in two years — just look at Brazil.
Best described as a bit player in the lithium space only two years ago, the country has since become one of the premier destinations for lithium exploration and development. It all started with the runaway success of Sigma Lithium (NASDAQ:SGML, TSXV:SGML). Since then, multiple high-profile mining companies have established themselves in the country.
This growth is unlikely to stop anytime soon, particularly in light of recent investments into Brazil's battery manufacturing sector by companies including BorgWarner and Inventus Power. Within the next several years, Brazil could become a major global supplier. That's good news for the lithium market, as we are rapidly approaching the point at which demand will greatly outstrip supply.
Oceana Lithium (ASX:OCN) is well-positioned to get us past that point — and to tap into Brazil's fast-growing lithium mining industry. An early-stage exploration company with significant opportunity for discovery across its projects, Oceana's flagship Solonópole project displays considerable promise. The company also maintains highly prospective projects in both Australia and Brazil.
Oceana's acquisitions were no accident. The company's well-informed exploration strategy stems from veteran geologists and mining professionals with decades of experience between them. It's already identified multiple drill targets in Solonópole, all of which are highly prospective and known to contain lithium.
Company Highlights
- Oceana Lithium is an exploration company with two strategic and highly prospective projects in Solonópole, Ceará State, Brazil (Solonópole Lithium Project) and Northern Territory, Australia (Napperby Project) — all tier-one mining jurisdictions.
- Brazil in particular is an emerging international destination for lithium, with multiple promising discoveries in recent years.
- Recent investments in battery manufacturing within the country also present a huge opportunity for lithium exploration.
- Napperby is a large-scale exploration project situated in Australia's Northern Territory, and has the potential to host uranium, lithium and several other rare and valuable resources, including rare earth elements and tantalum.
- The company is well-funded to advance exploration on all its projects, with $3.35 million in cash on 31 December 2023.
- Investors can expect strong newsflow over the coming months from both projects.
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Large-scale, highly prospective, pre-discovery projects in Brazil and Australia
Lithium Americas Shares Spike as Trump Admin Seeks Equity Stake
The request marks the latest instance of the Trump administration intervening directly in strategic sectors.
The White House has previously pursued similar arrangements with Intel (NASDAQ:INTC), MP Materials (NYSE:MP) and other firms considered vital to national security. “President Trump supports this project. He wants it to succeed and also be fair to taxpayers,” a White House official told Reuters. “But there’s no such thing as free money.”
Located about 25 miles south of Nevada’s border with Oregon, Lithium Americas says Thacker Pass is set to become the western hemisphere’s largest lithium source once fully operational. Phase 1 is designed to produce 40,000 metric tons of battery-grade lithium carbonate per year, enough for roughly 800,000 electric vehicles.
Full commercial output is scheduled for 2028, following the completion of the processing plant and mine infrastructure; construction is already underway, with more than 600 contractors on site.
The scale of production would dwarf current US lithium output. At present, the country produces fewer than 5,000 metric tons annually from Albemarle's (NYSE:ALB) Silver Peak facility in Nevada.
By contrast, global leaders Australia and Chile dominate mining, while China exerts outsized control over refining, processing more than 75 percent of the world’s lithium into battery-ready material.
The project was approved in the closing days of Trump’s initial term and received final financing under the Biden administration in 2024, when the Department of Energy’s Loan Programs Office (LPO) closed the record US$2.26 billion loan.
General Motors (NYSE:GM), which invested US$625 million in Lithium Americas last year for a 38 percent stake, holds rights to purchase all of the mine’s Phase 1 lithium output and part of Phase 2 output for the next two decades.
Trump officials are now pressing for assurances that GM will uphold those commitments, and are also seeking to shift some project control away from the automaker and toward Washington, according to Reuters' sources.
For its part, Lithium Americas has stayed measured in its comments.
“We respect the LPO’s decision to pursue a restructure and remain in active discussions with the (Department of Energy) and our partner, GM, and will provide an update at the appropriate time,” the company said.
The reports of a potential government stake ignited trading activity. Shares of Lithium Americas jumped more than 90 percent in New York on Wednesday (September 24), climbing from about US$3 to as much as US$6.12.
Lithium Americas performance, September 19 to 24, 2025.
Chart via Google Finance.
GM shares also ticked higher, up about 2.5 percent in early trading.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Green Technology Metals: Delivering the Next Lithium Hub in North America
Green Technology Metals (ASX:GT1) is progressing Ontario’s first integrated lithium business, anchored by its Seymour, Root, and Junior projects, with plans to supply a proposed lithium hydroxide facility in Thunder Bay.
GT1 is leveraging Canadian policy support for critical minerals, with Ontario’s Building More Mines Act and federal programs. The company has secured conditional approval for C$5.5M from the Critical Minerals Innovation Fund (CMIF) for Seymour infrastructure, a C$100M financing LOI from Export Development Canada, and has pending applications with SIF/NRCan and CMIF Round 2, including C$5M tied to Root. These mechanisms help de-risk financing and advance development.
GT1’s three-phase strategy starts with Seymour production using a DMS concentrator, followed by construction of the Thunder Bay lithium hydroxide facility with EcoPro Innovation, and finally, development of Root as a larger, long-life mining hub feeding Thunder Bay.
Company Highlights
- Integrated strategy in Ontario: The Seymour and Root projects form the foundation for a vertically integrated lithium business, supported by a proposed lithium hydroxide plant in Thunder Bay, Ontario, with rail, port, power, gas and water access.
- Marketing and offtake secured: LG Energy Solution has a binding offtake for 25 percent of Seymour concentrate and has invested directly into the company, demonstrating strong downstream demand.
- Strategic process partner: EcoPro Innovation is co-developing the conversion facility. Pilot work has already produced battery-grade lithium hydroxide with high recoveries.
- Government backing: GT1 has secured conditional approval for significant funding programs, including C$5.5 million for road upgrades, a C$100 million project financing support LOI from EDC, and additional CMIF and SIF applications.
- Resource base: A combined inventory of over 30 Mt @ ~1.2 percent lithium oxide across Seymour and Root, providing both near-term production and long-life scale.
- By-product upside: Seymour hosts a significant rubidium resource in mica streams that could be recovered alongside lithium, creating an additional revenue line.
This Green Technology Metals profile is part of a paid investor education campaign.*
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