
December 05, 2021
Scorpion Minerals Limited (ASX: SCN) (“the Company” or “SCN”) is pleased to advise that it has entered into a binding Heads of Agreement (“the agreement”) with eMetals Limited (ASX:EMT) (“eMetals” or “EMT”) to acquire a 100% interest in tenements E 20/896, E 20/963, E 20/964 and a 90% interest in E 20/885 (collectively the “tenements”) which cover a combined 904km² in the Murchison Goldfield of Western Australia (see Figure 1).
HIGHLIGHTS
- Scorpion has entered into a binding agreement with eMetals Limited (ASX: EMT) to acquire the Poona Project
- SCN to acquire an interest in tenements EL20/885, EL20/896, EL20/963 and EL20/964 which cover a combined 904km²
- Consideration for the acquisition is $12,500 in cash and 4,000,000 fully paid ordinary shares in SCN
- EMT will also receive a 0.5% net smelter return (NSR) royalty in respect of minerals mined from the tenements
- Strategic acquisition increases SCN’s position in the Murchison by 150% providing significant exploration optionality
Under the agreement, SCN will acquire its interest in the tenements for a cash consideration of $12,500 and 4,000,000 fully paid ordinary shares in SCN. EMT will also receive a 0.5% net smelter return (NSR) royalty in respect of minerals mined from the Tenements should commercial mining be undertaken.
Settlement is to be completed within 60 days of executing this agreement subject to successful completion of due diligence and other conditions precedent.
Click here for the full ASX Release
This article includes content from eMetals 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.
EMT:AU
The Conversation (0)
19h
Leadership Streamlining and Cost Reductions
10 June
Outstanding High Grade REE Diamond Drill Results
10 June
Beneficiation Delivers 4,480ppm Lithium Clay Concentrate at Red Mountain Project, USA
Latest results reinforce ability to upgrade Red Mountain mineralisation
Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to report further positive results from the latest phase of beneficiation testwork for its 100%-owned Red Mountain Lithium Project in Nevada, USA. The results continue to strengthen the Project’s commercial development potential.
Key Highlights
- Follow-up Falcon C beneficiation testwork completed on diamond drill core samples from the Red Mountain Project.
- Sample upgraded from 3,245ppm to 4,481ppm Lithium.
- Successful removal of 51.8% of dense material and concurrent 38% increase in lithium grade.
- Reinforces the April 2025 results indicating that Red Mountain mineralisation may be upgraded using beneficiation.
- Attrition Scrubbing beneficiation testwork now underway for comparison with the Falcon testwork results.
- Leaching testwork to be undertaken on Falcon and Attrition Scrubbing products to confirm reduced acid consumptions.
Following on from the results announced on 22 April 2025, this second phase of Falcon Beneficiation testwork was designed to concentrate lithium-bearing clay and remove unmineralized gangue (waste) in order to decrease mass and increase lithium grade. In a mineral processing context, a reduction in tonnes and volume processed with an increased head-grade typically results in lower processing costs.
This second Falcon testwork program was conducted by Sepro Laboratories (Sepro) and utilised high- clay drill core samples from hole RMDD002 (which intersected 86.9m @ 1,470ppm Li from 18.3m4). This follow-up test was designed to establish how high-clay material performed using the Falcon method, for comparison with results from the previous test conducted on lower grade mineralisation from Red Mountain.
The latest result indicates a strong ability to upgrade mineralisation, achieving a reduction of sample mass by 51.8% with a concurrent increase in lithium grade of 38% (from 3,245 to 4,481ppm Li), with an overall 66.6% lithium recovery. These results compare favourably with the previous round of testwork, exhibiting both a greater upgrade in lithium and reduction in mass, with a substantial 43% reduction in calcium and carbon (interpreted as calcite removal) expected to result in a significant reduction in acid consumption. The Company has commissioned Attrition Scrubbing testwork – another method of beneficiation – for comparison with the Falcon results. Once complete, sample products from both the Falcon and Attrition Scrubbing tests will be assessed for acid consumption in future leachability tests.
Astute Chairman, Tony Leibowitz, said:“The demonstration of a commercial pathway to a lithium product is the natural complement to the establishment of a Mineral Resource. It is for this reason that Astute has actively advanced workflows for both exploration drilling and metallurgical testing at Red Mountain, in tandem. These positive results, which reinforce the previous results from the project, represent the systematic de-risking of what continues to emerge as an important US- based critical metals project.”
Figure 1. Clay-rich RMDD002 drill-core from 160-165ft (3,280ppm Li) used in Falcon beneficiation testwork.
Background
Located in central-eastern Nevada (Figure 4), adjacent to the Grand Army of the Republic Highway (Route 6), which links the regional mining towns of Ely and Tonopah, the Red Mountain Project was staked by Astute in August 2023.
The Project area has broad mapped tertiary lacustrine (lake) sedimentary rocks known locally as the Horse Camp Formation1. Elsewhere in the state of Nevada, equivalent rocks host large lithium deposits (see Figure 4) such as Lithium Americas’ (NYSE: LAC) 62.1Mt LCE Thacker Pass Project2 and American Lithium (TSX.V: LI) 9.79Mt LCE TLC Lithium Project3.
Astute has completed substantial surface sampling campaigns at Red Mountain, which indicate widespread lithium anomalism in soils (Figure 3) and confirmed lithium mineralisation in bedrock with some exceptional grades of up to 4,150ppm Li1,5.
A total of 19 RC and diamond drill holes have been drilled at the project to date for a combined 3,666m. Exploration drilling has been highly successful, with strong lithium mineralisation intersected in every hole for which assays have been received9.
Scoping leachability testwork on mineralised material from Red Mountain indicates high leachability of lithium of up to 98%, varying with temperature, acid strength and leaching duration, and proof-of- concept beneficiation testwork has indicated the potential to upgrade the Red Mountain mineralisation6,8.
About Beneficiation
The primary purpose of beneficiation is to optimise the value of mineralised material by separating unwanted waste material (gangue) from valuable minerals.
Testwork conducted to date at Red Mountain indicates that clay-hosted lithium mineralisation may be upgraded through beneficiation, which seeks to remove coarser grained material, such as particles of sand, that do not contain appreciable lithium8. Successful beneficiation can result in reduced reagent consumption, reduced plant wear and tear, and a reduced environmental footprint.
Click here for the full ASX Release
This article includes content from Astute Metals NL, 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.
Keep reading...Show less
04 June
Pursuit Dispatchs 99.5% Lithium Carbonate Samples to Potential Strategic Partners as Feasibility Studies Progress
Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Company”) is pleased to announce that high- purity lithium carbonate samples have been dispatched to multiple parties as part of its engagement with prospective offtake and strategic partners. The samples were produced from the Company’s 250tpa Pilot Plant in Salta, Argentina, using synthetic brine chemically identical to that of the Rio Grande Sur Lithium Project.
HIGHLIGHTS
- Final product assays confirm 99.5% lithium carbonate purity, upgraded from pilot output via bench scale processing.
- Certified samples dispatched to multiple potential offtake and strategic partners for qualification.
- Feasibility study progressing for low cost, 5,000tpa operation at Rio Grande Sur.
- Ongoing small batch lithium carbonate production to support offtake qualification while preserving capital discipline in current market conditions.
- Pursuit continues to advance its dual-pronged growth strategy progressing Rio Grande Sur while accelerating the evaluation of strategic gold, silver, and copper acquisitions in Argentina.
Figure 1 – Pursuit’s 99.5% Li₂CO₃ Sample Ready for Dispatch to Potential Offtake Partners
In relation to the dispatch of samples, Pursuit Managing Director & CEO, Aaron Revelle, said:
“Achieving 99.5% lithium carbonate purity is a major technical milestone for Pursuit and a clear demonstration of the capability embedded within our flowsheet, team, and pilot plant infrastructure. It not only validates the compatibility of our process design with Rio Grande Sur brines but also confirms our ability to deliver a consistently high-quality product suited to a wide range of industrial and energy storage applications. Dispatching these samples to potential offtake partners is a critical first step in our commercialisation pathway, enabling product qualification and accelerating engagement with strategic customers in tough market conditions. As we transition into the next phase of development, our focus is firmly on advancing feasibility for our 5,000tpa operation and securing long-term partnerships that will underpin the future production and growth of the Rio Grande Sur Project.”
Initial pilot production at Pursuit’s 250tpa Pilot Plant in Salta successfully produced 15 kilograms of lithium carbonate at 98.9% purity, validating both the compatibility of the Rio Grande Sur brine and the efficiency of the Company’s conventional processing flowsheet. To enhance product quality and simulate potential refinement steps at commercial scale, a portion of this material was further treated at bench scale using fractional crystallisation (FX) and ion exchange (IX) techniques. These post processing steps upgraded the product to 99.5% purity, meeting established benchmarks for technical-grade lithium carbonate.
The final product assays confirm not only the effectiveness of Pursuit’s downstream purification strategy but also the scalability and robustness of its broader flowsheet. This achievement represents a critical milestone on the path to commercial readiness supporting key feasibility assumptions, validating end product quality, and enabling active engagement with prospective offtake partners.
Pursuit is well positioned to undertake additional small-batch production as required to meet partner qualification needs and advance strategic discussions. Furthermore, it demonstrates Pursuit’s capability to produce high-purity lithium carbonate suitable for industrial use, with potential to meet battery-grade specifications through additional refinement.
Click here for the full ASX Release
This article includes content from Pursuit 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.
Keep reading...Show less
02 June
Ore Reserve Quadruples for Rhyolite Ridge Project; Reaffirms Robust Project Economics
Ioneer Ltd (ASX: INR, Nasdaq: IONR) (Ioneer) is pleased to announce a 308% upgrade to the Ore Reserve estimate for its 100%-owned Rhyolite Ridge Lithium-Boron Project (‘Rhyolite Ridge’ or the ‘Project’) in Nevada, USA, alongside updated Project economics.
- Rhyolite Ridge Ore Reserve more than quadrupled from 60 million tonnes in 2020 to 247 million tonnes, delivering a mine life of 95 years
- Ore Reserve now contains a total of 1.92 Mt of lithium carbonate equivalent and 7.68 Mt of boric acid equivalent
- Underpinning plans for a large, long-life, low-cost expandable operation, producing lithium carbonate, boric acid and then battery-grade lithium hydroxide
- Stable co-product - boric acid accounts for an average 25% of annual revenue in the first 25 years; helping ensure positive EBITDA at low lithium prices and EBITDA margin of 65.7% based on average production over first 25 years
- All-in sustaining cash cost of US$5,745 per metric tonne lithium carbonate equivalent places the Rhyolite Ridge Project in the bottom of the global lithium cost curve
- Compelling Project economics with an after-tax NPV of US$1.367 billion, and an unlevered, after-tax internal rate of return (IRR) of 14.5%
The Ore Reserve has increased by 186.6 million tonnes (Mt) and approximately 48% of the Mineral Resource has been converted into Reserve, now estimated at:
- 246.6 Mt at 1,464 ppm lithium and 5,444 ppm boron
- Containing 1.92 Mt of Lithium Carbonate Equivalent (LCE) and 7.68 Mt of Boric Acid Equivalent (BAE)
“Today’s updated Reserve and Mine Plan reinforces the importance of Rhyolite Ridge’s remarkable mineralogy. Our Ore Reserve estimate of 247 Mt containing a total of 1.92 Mt LCE and 7.68 Mt BAE make it the largest lithium-boron Reserve in the world,” said Bernard Rowe, Managing Director, Ioneer. “It allows Ioneer to match prevailing market conditions and blend or prioritise ore to produce a valuable boric acid co- product, whose market is uncorrelated with the Project’s primary lithium product. No other lithium project offers this level of flexibility and economic advantage. In periods of low cycle lithium pricing, like today, we plan to prioritize the high-boron ore production to optimize the relative proportion of total revenue derived from boric acid.”
By prioritising High-Boron (Hi-B) ore in the first 25 years of production, the Project is poised to produce an average of ~19,200 tonnes per annum (tpa) of LCE, and 116,400 tpa of boric acid (see Table 1).
The updated Ore Reserve estimate, 95-year mine plan for stage one operations, and Project economics reaffirms Rhyolite Ridge as a highly attractive global Project to produce lithium carbonate, lithium hydroxide and boric acid. The updated findings position Ioneer, on an LCE basis, in the lowest cost quartile for lithium production globally with an estimated all-in sustaining cash cost to produce battery grade lithium hydroxide of US$5,745 and a cash cost of C1 $3,858 per tonne net of expected boric acid revenue in the first 25 years.
The Project has a stable overall operating cost structure to produce lithium carbonate and battery grade lithium hydroxide due to the scale and reliability of its boric acid credit. Boron remains one of the most stable natural resource commodities over many decades.
Ioneer has refined Project plans over the past four years and updates now include an Association for the Advancement of Cost Engineering (AACE) Class 2 capital cost estimate (-10%, +15%) with approximately 70% of the Project’s engineering complete. As a result of this and other engineering work including RAM analysis and detailed engineering design, Ioneer has adopted a more conservative approach to plant availability, equipment downtime and maintenance strategies. While this approach reduces bottom line economics, the Company believes it is appropriate for a Project of this type and scale.
The Company now estimates total capital expenditure to complete the Project will be US$1,667.9 million, including a 10% contingency.
Click here for the full ASX Release
This article includes content from Ioneer Ltd, 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.
Keep reading...Show less
29 May
Lithium Africa: Searching for Low-cost, Marquee Hardrock in Africa
Lithium Africa is a next-generation exploration company purpose-built to seize the opportunities of the coming lithium supercycle. With a focus on early-stage land acquisition, rapid drilling, and a landmark joint venture with Ganfeng Lithium, the company delivers maximum exploration efficiency, capital leverage, and de-risked discovery potential at scale.
Lithium Africa’s mission is to discover, de-risk, and monetize Tier 1 hard rock lithium assets through data-driven targeting, aggressive fieldwork, and disciplined exit strategies. Its partnership with Ganfeng—one of the world’s leading lithium producers—anchors its strategy with industrial expertise and financial strength from the earliest phases of project development.
Lithium Africa is the first company to implement a systematic, multi-jurisdictional discovery strategy across the continent, combining world-class geology with capital discipline and strategic focus to unlock the next generation of globally significant lithium deposits.
Company Highlights
- Exploration-focused Model: Lithium Africa focuses purely on discovery and value creation, with no intention to develop or operate a mine
- Strategic 50/50 JV with Ganfeng Lithium: Doubles exploration spending and provides access to processing expertise and long-term downstream offtake partners.
- Pan-African Footprint: Over 8,000 sq km of tenure across Zimbabwe, Morocco, Mali, Côte d’Ivoire, Guinea, and others – enabling diversification in discovery strategy.
- Contrarian, Countercyclical M&A: Well-capitalized and positioned to roll up distressed lithium juniors during a downcycle
- Rapid Permitting & Scalability: Target jurisdictions offer 3- to 4-year discovery-to-mine timelines versus 10 to 15 years in North America.
- RTO & Listing Expected by August 2025: Tight structure, early institutional support and significant near-term drilling catalysts
This Lithium Africa profile is part of a paid investor education campaign.*
Click here to connect with Lithium Africa to receive an Investor Presentation
Keep reading...Show less
Latest News
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00