Oceana Lithium Limited

Oceana Lithium (ASX: OCN) Lists on ASX

Oceana Lithium Limited (ASX:OCN) (Oceana or the Company) is pleased to advise that it is set to commence trading on the Australia Securities Exchange (ASX) at 12.00 pm AEST today under the code “OCN”.

Highlights

  • $6m raised via oversubscribed IPO, including participation from cornerstone investor Sichuan Yahua Industrial Group, the third largest Lithium Hydroxide producer globally and major supplier to EV manufacturers Tesla, BYD Auto and Sinopec
  • Funds raised will be directed towards aggressive exploration of the Company’s 100% owned Solonopole and Napperby lithium pegmatite projects in Brazil and Australia
  • The Solonopole lithium pegmatite project is situated in the state of Ceara in the northeast of Brazil. Significant pegmatite mineralisation has been identified along an approximate 17km corridor within the Company’s exploration leases
  • Surface mapping and sampling has commenced on the Solonopole project following a site visit from Executive Director Sebastian Kneer in May
  • Oceana will rank targets for immediate drill testing upon completion of the initial sampling program and detailed review of the existing dataset. To date, none of the highly prospective prospects have been drill tested
  • The Napperby lithium pegmatite project is located in the Arunta Pegmatite field in the Northern Territory. A reconnaissance site visit was undertaken by the Company’s consultants in late April

The listing follows the successful and oversubscribed initial public offering (IPO) of Oceana, which raised $6m in new equity. This included a $1m cornerstone investment from Yahua International Industrial Group, the third largest lithium hydroxide producer globally.

The funds raised will allow Oceana to aggressively pursue the multiple mineralised outcropped pegmatites identified at the Solonopole lithium pegmatite project in Brazil, covering an area of 114 km2 and strategically located only three hours from the port of Fortaleza.

Based on their geochemical signature, the Solonopole pegmatites belong to the LCT (Lithium-Cesium-Tantalum) family of rare element pegmatites. High grade outcropping rock samples have returned assay values of over 9% Li2O and over 1% Ta2O5 . Over 15 historical artisanal mines have been identified on the leases to depths of less than 10 metres vertical depth.

Authorised for release by: Jerome G Vitale, Chairman

For further information please contact:
Oceana Lithium Limited
T: +61 8 9486 4036
E: info@oceanalithium.com.au
W: www.oceanalithium.com.au

The exploration results contained in this announcement were first reported by the Company in its prospectus dated 4 April 2022 and announced to ASX on 29 June 2022. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Prospectus.


Click here for the full ASX Release

This article includes content from Oceana 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.

The Conversation (0)
Oceana Lithium (ASX:OCN)

Oceana Lithium

Large-scale, highly prospective, pre-discovery projects in Brazil and Australia

Large-scale, highly prospective, pre-discovery projects in Brazil and Australia Keep Reading...
Hands typing on laptop with superimposed stock market graphs and numbers.

Ganfeng Chairman’s Forecast Sparks Lithium Price Surge in China

China’s lithium market strengthened sharply on Monday (November 17) after Ganfeng Lithium (OTC Pink:GNENF,HKEX:1772) Chairman Li Liangbin said at a domestic industry conference that demand for the key battery metal could grow by as much as 40 percent in 2026.The most-traded lithium carbonate... Keep Reading...
Green Technology Metals Logo

Ontario Lithium Project Development Update

Green Technology Metals(GT1:AU) has announced Ontario Lithium Project Development UpdateDownload the PDF here. Keep Reading...
Lithium sign with batteries and rocks on a dark background.

Mineral Resources and POSCO Pen Lithium Joint Venture

Mineral Resources (ASX:MIN,OTCQB:MALRF) and Korean steel producer POSCO Holdings (NYSE:PKX,KRX:005490) have executed a binding agreement, creating a lithium joint venture.According to the release, the new entity will hold 50 percent of Mineral Resources’ existing ownership in the Wodgina and Mt... Keep Reading...
Hand stamping "approved" on document beside laptop on desk.

China Grants Conditional Approval to Codelco-SQM Lithium Joint Venture

Chile’s state-owned copper giant Corporación Nacional del Cobre de Chile (Codelco) and local lithium producer Sociedad Quimica y Minera (SQM) (NYSE:SQM) have cleared the final major hurdle for a long-planned partnership after China’s antitrust regulator granted conditional approval to the... Keep Reading...
Cleantech Lithium

Laguna Verde Resource Increase Based on Recent Licence Acquisition

CleanTech Lithium PLC ("CleanTech Lithium" or "CleanTech" or the "Company") (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, announces an updated resource estimate for its Laguna Verde project following the recent acquisition of... Keep Reading...

Latest Press Releases

Related News