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Arizona Lithium Limited (ASX: AZL, AZLOA, OTC: AZLAF) (“Arizona Lithium”, “AZL” or “the Company”), a company focused on the sustainable development of two large lithium development projects in North America, the Big Sandy Lithium Project (“Big Sandy”) and the Prairie Lithium Project (“Prairie”), is pleased to announce that it has increased the resource size, and upgraded a significant portion of the resource at its Prairie Lithium brine project in Saskatchewan, Canada.
HIGHLIGHTS
- Highest grade Indicated lithium brine resource in Canada, with the majority of the Indicated resource at 127 mg/L Li.
- Resource increased to 5.7 million tonnes (“mt”) of Lithium Carbonate Equivalent (“LCE”) (4 mt Indicated and 1.7 mt Inferred), representing a 39% increase in size.
- Total resource represents approximately 8 years of current worldwide market for LCE1.
- 4 mt of LCE upgraded from Inferred to Indicated.
- Large Indicated resource enables the Company to complete a Pre-Feasibility Study (“PFS”) by the end of 2023.
- Rare lithium brine resource that does not require the depleted brine to be injected back into the producing lithium aquifer. This extends the life of the well network infrastructure and ensures resource stability overtime.
- No Hydrogen Sulphide (“H2S”) or oil encountered.
- Pilot Direct Lithium Extraction (“DLE”) test plant to commence operations in November 2023.
- Investor Webinar on Tuesday, 15 August at 10:00 am AEST / 8:00 am AWST. Managing Director, Paul Lloyd, and Chief Technical Officer, Brett Rabe, will provide a Company update.
The total resource has been increased from 4.1 mt of LCE2 to 5.7 mt of LCE, representing a 39% increase in resource size, with a resource upgrade also successfully completed. 4.0 mt of LCE has been upgraded to Indicated and 1.7 mt of LCE remains Inferred. This marks the first known lithium brine resource to be upgraded to Indicated in Saskatchewan and represents the highest-grade Indicated lithium brine resource in Canada. The majority of the targeted resource resides in the Middle Wymark Unit with a representative concentration of 127 mg/L Li (Figure 3).
The geology of the Prairie Lithium project in Southeast Saskatchewan enables it to be one of the only DLE brine projects that does not require the depleted lithium brine to be re-injected into the producing aquifer after the lithium has been extracted from the brine. This is due to Prairie currently having enough natural pressure, permeability, and lateral continuity to sustain the production rates required for commercial production of brine. Furthermore, the geology of the Williston Basin in Southeast Saskatchewan has world class fluid storage capabilities, providing the Company the option to explore multiple potential disposal formations without the risk of diluting the resource in place.
The operations of producing brine from one formation and disposing it in another formation is an extremely common occurrence in southeast Saskatchewan. From January - April 2023, the oil and gas industry in Saskatchewan produced and disposed of an average of 149,654,188 bbl.3 (23,792,399 m3) of brine per month from various formations across Saskatchewan, well exceeding the anticipated brine volumes that will be required for a commercial lithium brine operation.
Arizona Lithium Managing Director, Paul Lloyd, commented: “Immediately after acquiring the Prairie Lithium Project, we put our plans in motion to fast track the development of the Resource. Completing the first Indicated Resource upgrade in a timely and efficient manner, highlights the technical capability of the team and the Company’s commitment to production of Lithium, from the Prairie project. The combination of the Resource upgrade and the upcoming DLE pilot plant operation in November 2023, set the stage for a very exciting second half of the year for the Company. With all of this, the PFS on the Prairie project will be completed by the end of this year.”
Investor Webinar
The Company would like to remind shareholders and investors of the AZL Investor Webinar which will be held on Tuesday, 15 August at 10:00 am AEST / 8:00 am AWST. Managing Director, Paul Lloyd, and Chief Technical Officer, Brett Rabe, will provide a Company update.
To register your interest for the webinar, please click through to the link below.
https://janemorganmanagement-au.zoom.us/webinar/register/WN_gQQrtbtzRFqoHXys4pvfNA
After registering your interest, you will receive a confirmation email with information about joining the webinar. Participants will be able to submit questions via the Panel throughout the presentation, however, given we are expecting a large number of attendees we encourage shareholders to send through questions via email beforehand to jm@janemorganmanagement.com.au
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This article includes content from Arizona 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.
Unconformity Uranium Drill Targets Identified from 2024 Geophysical Data
Key Highlights
- Final data received and interpretation completed for the ground electromagnetic geophysical surveys from the winter 2024 program at the Marshall and North Millennium projects.
- Several conductive anomalies identified at Marshall, located above and below the unconformity, consistent with regional exploration model.
- Stacked anomalies concurrently with multigenerational geophysical data provides a base to assess the exploration targets and refine drillhole targets.
- The projects are located 15 kilometres from the majority Cameco owned Millennium deposit, and just 40km from the world class McArthur River mine.
- Basin remains funded for the next round of field exploration.
The ground electromagnetic successfully identified 3 main targets which confirms the geological and exploration model. Of note is Target 1 (Figure 1), where modelled EM plates below the unconformity align with a sandstone ZTEM anomaly, which is interpreted to be alteration within sandstone. The identification of these targets is encouraging and consistent with regional trends in the southeastern Athabasca and provides increased confidence in drill hole targeting. Basin is currently reviewing options and priorities of how to progress exploration of these confirmed targets.
Basin’s Managing Director, Pete Moorhouse, commented:
“Conducting ground geophysical surveys on Marshall and North Millennium was a milestone in advancing these underexplored projects in Basin’s uranium portfolio. The form of these anomalies is highly encouraging given the proximity to some of the world’s largest uranium deposits.”
Key results
Following the encouraging conductive anomalism highlighted by the 2023 3D inversion of two historic airborne Electromagnetics (Z‐Tipper Axis) (“ZTEM”) datasets partially covering the current North Millennium and Marshall projects3,4, Basin contracted Discovery International Geophysics5 to carry out ground Stepwise Moving Loop Transient Electromagnetic (‘Ground EM’) surveys on areas of immediate interest within the Projects.
Figure 1 Three main anomalies shown from 2024 ground EM, in plan view (top diagrams) and cross- section looking northeast (bottom diagram). The ground EM anomalies are displayed with the modelled plates against the historical ZTEM data.
The 2024 Ground EM survey data returned six conductive anomaly picks producing three main target areas (Figure 1). The anomalies correlate strongly with the southern edge of the circular ZTEM conductive anomaly at Marshall and the interpreted northern edge of the circular anomaly identified in the historic data. A weaker EM pick was also interpreted centred between the two prominent ZTEM conductivity anomalies.
Three-dimensional modelling using Maxwell produced six electromagnetic conductive plates within the basement stratigraphy, all below the unconformity (Figure 1). The two southeastern plates are clearly aligning with a conductive sandstone ZTEM anomaly identified from the historic data, which is above the interpreted unconformity. This is interpreted as potential basal sandstone alteration proximal to the EM anomalies and constitutes a high-priority drill target area, refer figure 2.
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Airborne EM over Multiple Targets on Ti-Tree Project
- Augustus Minerals has contracted UTS Geophysics to conduct a VTEM Max survey over several Copper, Cu-Ni-PGE, Zn-Pb-Ag and Uranium targets along the money Intrusion and within proximity of the prospective 85k long Ti-Tree Shear.
- The surveys will cover:
- The Money Intrusion, prospective for Cu-Ni-PGE mineralisation.
- Copper Ridge and Nics Bore over anomalous Copper Drilling results
- The Coo Creek prospect where drilling by Augustus in 2023 identified strongly anomalous Zn-Pb-Ag mineralisation.
- The Munaballya Well North area which shows potential for economic Uranium mineralisation.
- The surveys will help to advance the untapped potential of the Ti-Tree project to host economic mineralisation of multiple commodities.
Andrew Ford, GM Exploration
“The VTEM survey will provide key targeting data over three highly prospective and different prospects with potential for multiple commodities. Whilst the high prospectivity for copper mineralisation has been well documented, the addition of uranium and Broken Hill base metal style mineralisation highlights the quality of the underexplored Ti-Tree project”.
VTEM
UTS Geophysics has been engaged to conduct a helicopter borne VTEM Max survey comprising 646-line km over three separate survey areas. The system is excellent for locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity which helps map structure, alteration and rock type. The system also collects magnetic data through a caesium magnetometer. The transmitter/receiver loop is suspended on a cable approximately 40m below the helicopter (Figure 1).
Figure 1 VTEM Max helicopter deployed electromagnetic survey arrangement.
Figure 2 Prospects and VTEM Survey areas.
Money Intrusion
The Money Intrusion, which has proven potential to host Ni-Cu-Co-PGE (platinum group elements), is part of the regional Mundine Well Dolerite Suite, a regionally extensive dolerite (strike length >80km). This extensive mafic intrusion, which is comprised of a variety of lithologies, including gabbro in the core, olivine dolerite on the chilled lower contact or keel and fine-grained dolerite on the outer edges. Mapping, aeromagnetics and multi-spectral imagery show that the Money Intrusion within the Ti-Tree Project covers a strike length greater than 16km, reaching widths >600m in the north of E09/23241.
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This article includes content from Augustus Minerals, 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.
Latest Kameelburg Assays Up To 10.38% Nb2o5 and 9.89% TREO
Highlights
- A total of 74 highly prospective rock samples recently collected from various beforsite and mafic dykes
- Most notable assays reveal up to 10.38% Nb2O5 and 9.89% TREO
- Large scale geological mapping of Kameelberg carbonatite is nearing completion
- Track access clearance & preparation for underground water supplies underway for upcoming maiden diamond drilling programme
Results from recently collected seventy-four (74) samples were received and highlighted the REE rich nature of the carbonatite with TREO(+Y) assays ranging from 1.16 to 9.89%, refer to Figure 1 for samples locations and Table 1 for results.
Figure 1: Southern Carbonatite Margin Geological mapping area with rock chip samples
Niobium Results Along Mafic Dykes
In addition to sampling the carbonatite plug, a further four (4) samples were collected across the Nb dyke zone on the southwest flank of the carbonatite. Results for these samples ranged from 5.44% to 10.38% Nb2O5. This provides additional confidence to previous niobium findings (see announcements dated 28 February 2024 and 27 December 2023). Table 2 compiles the Nb results with Figure 2 depicting recent sample locations in relation to the previous Nb2O5 results.
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This article includes content from Aldoro 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.