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Soil Sampling Program Commences at Parker Dome Lithium Project
Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to announce it has commenced a soil sampling program at the recently optioned Parker Dome lithium project in Western Australia1.
Highlights
- Geochemical soil sampling for lithium has commenced at the recently optioned Parker Dome project, situated 50km north of the world class Mount Holland lithium project in Western Australia
- The soil sampling program will initially focus on the Western and Eastern Pegmatite Trends defined by historic RAB drilling
- Several of the historic drill holes intersected and terminated in pegmatite and were not assayed for lithium
- Soil sampling will represent the first systematic lithium exploration undertaken at the project
- Sampling program expected to be completed in December with assay results due in early Q1 2024 after which the company plans to drill-test potential anomalies
The program is designed to provide first-pass geochemical coverage over the Western and Eastern pegmatite trends (Figure 2), delivering the first systematic lithium and associated pathfinder assays for the project.
Managing Director and CEO of Flynn Gold, Neil Marston commented,
“We have moved rapidly to commence on-ground exploration at Parker Dome with an initial soil program targeting two main pegmatite trends outlined by historic drilling.
“Soil sampling has proven to be a very effective and rapid method to assess prospective ground for lithium anomalies in both the Forrestania and Lake Johnston Belts. We expect the survey will generate new targets for drill testing and will complement targets generated from historic exploration drilling.
“The exploration team has mobilised to Marvel Loch and sampling work has commenced on the ground. We look forward to providing shareholders with updates as work progresses and results are received.”
Figure 1 - Location of Flynn’s Forrestania and Lake Johnston projects and Parker Dome ELs
Figure 2 - Location of Soil Program areas and Pegmatite Targets on E77/1965 and E77/2091
Soil Sampling Program
A program of approximately 700 soil samples is planned in the current phase of work. Sampling will focus on providing first-pass coverage over the Western and Eastern pegmatite trends (Figure 2). The sampling program should be completed over the next 2 weeks with assay results expected early in Q1 2024.
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This article includes content from Flynn Gold, 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.
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Flynn Gold
Overview
Flynn Gold Limited (ASX: FG1) is an Australian mineral exploration company with a portfolio of projects in Tasmania and Western Australia.
Tasmania is home to several world-renowned deposits and is rich in diverse mineral resources and operating mines. The region has established mining districts, excellent infrastructure such as rail and ports, and a skilled workforce, with a stable political and regulatory environment. These features are a big positive for the company’s projects in this region.
The company has nine 100 percent owned tenements in Northeast Tasmania which are highly prospective for gold and tin/tungsten with three major projects — Golden Ridge, Portland and Warrentinna. In Northwest Tasmania, it has the Henty zinc-lead-silver and the Firetower gold and critical minerals projects.
Flynn Gold’s exploration at its Golden Ridge Project has focused on an 8-kilometre-long granodiorite-metasediment contact zone with diamond drilling programs completed at the Brilliant and Trafalgar prospects, with multiple high-grade gold vein intersections.
Moreover, the company’s first diamond drilling programs at its Warrentinna and Firetower projects have been completed with assays pending.
Apart from Tasmania, the company is building a strategic lithium and gold portfolio in Western Australia, targeting hard-rock lithium pegmatites and intrusive related gold deposits in the Pilbara region and Yilgarn Craton. Its five lithium-gold projects in Western Australia are strategically located in districts hosting large gold and lithium deposits or in regions that are relatively under-explored for lithium. Of these, three lithium-gold projects are in the Yilgarn region: Forrestania, Lake Johnston and Koolyanobbing. The remaining two lithium-gold projects are in the Pilbara region: Mt Dove and Yarrie.
Flynn’s recent acquisitions have been focused on strengthening its lithium portfolio. This includes the option agreement to purchase two exploration licences at the Parker Dome Project in Western Australia, which is considered highly prospective for lithium. In addition to this, Flynn has also increased its land position closer to the Mt Holland lithium project. Four new exploration licence applications covering approximately 20 sq. km. have been lodged with the Department of Energy, Mines, Industry Regulation and Safety.
The focus on lithium positions the company to benefit from the global transition towards clean energy. The recent COP28 summit in Dubai signaled the world's desire to move away from fossil fuels over the next few decades to address climate change. Electric vehicles are likely to remain in focus as a key solution to the climate challenges. Most of the lithium is used to make lithium-ion batteries for electric cars and mobile devices. Summarily, lithium will be in high demand given this trend.
Company Highlights
- Flynn Gold is an Australian mineral exploration company with a portfolio of gold and battery metals projects in Tasmania and Western Australia.
- In Tasmania, the company holds 12 tenements spread across 1,475 sq. km., including three main projects in Northeast Tasmania — Golden Ridge, Warrentinna and Portland — that are prospective for gold and tin. Moreover, it has two projects in Northwest Tasmania: the Henty zinc-lead-silver project and the Firetower gold-cobalt-tungsten-copper project.
- In Western Australia, Flynn holds 24 tenements across 1,140 sq. km., including lithium-gold projects in the Pilbara and Yilgarn regions. The Yilgarn region has three lithium-gold projects: Forrestania; Lake Johnston and Koolyanobbing. The Pilbara hosts two gold-lithium projects: Mt Dove and Yarrie.
- In addition to these focus areas, the company holds an option to acquire two exploration licences at Parker Dome in Western Australia, situated near the world-class Mount Holland lithium project.
- The company’s near-term focus is on its Northeast Tasmania gold portfolio due to its geological similarity to the Victorian goldfields.
- Flynn Gold’s exploration at its flagship Golden Ridge Project in NE Tasmania has focused on an 8-kilometre-long granodiorite-metasediment contact zone with diamond drilling to date intersecting multiple high-grade gold vein intervals.
- In November 2023, the company announced strong metallurgical test results from the Golden Ridge project, as exploration commenced at two other Tasmanian projects — Warrentinna and Firetower – with results pending.
- In December 2023, the company announced plans to raise $2.4 million that will help advance its exploration activities including the acquisition of the exploration licences at Parker Dome.
- The company’s senior leadership team has a proven track record in the mining sector to capitalize on the high resource potential of its projects.
Key Projects
Northeast Tasmania
The company has three main projects in northeast Tasmania — Golden Ridge, Portland and Warrentinna. The under-explored Northeast Tasmania region is interpreted to be part of the Western Lachlan Orogen, a geological extension of the rich Victorian Goldfields which boast of historical gold production of over 80 million ounces (Moz). The company’s landholding across nine 100 percent owned tenements in the region has provided it with significant potential for gold and tin discoveries.
Golden Ridge Project
Targeted for intrusive related gold system (IRGS) style mineralization, the Golden Ridge project is located 75 kilometres east of Launceston in Northeast Tasmania. Previous gold exploration at the Golden Ridge Project has been very limited with shallow historical workings located over an 8-kilometre-long granodiorite-metasediment contact zone. Flynn Gold’s exploration has focused on the Brilliant and Trafalgar prospects, with diamond drilling programs completed at both locations between June 2021 and August 2023. In addition, a limited reconnaissance RC drilling program in late 2022 to test for gold mineralisation at the Link Zone confirmed the presence of shallow gold mineralisation between the Brilliant and Trafalgar prospects, highlighting the significant gold potential of the granodiorite-metasediment contact zone.
Drilling at Trafalgar consisted of 14 holes for 5,218.3 metres with multiple vein intersections grading >100 grams per ton (g/t) gold reported. The best intersections recorded in drilling at Trafalgar were 16.8 g/t gold over 12.3 metres (from 108.7 to 121 metres), including 0.7m at 152.5 g/t gold and 23.7 g/t gold over 4 metres (from 23 to 27 metres), including a high-grade zone of 0.5 metre at 169.8 g/t gold.
Drilling completed at Trafalgar intersected high-grade gold over a strike length of 400 metres and from depths of 40 to 400 metres below surface, confirming a significant new gold discovery that is open in all directions.
Initial metallurgical tests were successfully completed in November 2023 on 26 drill samples from the Trafalgar prospect. Average gold recovery of 94.5 percent was recorded using conventional bottle roll leaching.
Portland Project
The Portland gold project covers 370 sq. kms. and comprises three adjacent tenements: Portland, Telegraph and Cameron Tin. The project falls within the region mined historically from 1870 to 1917 and has similarities to Victorian geology with high-grade “Fosterville-style” gold mineralization confirmed. Geochemical surveys and costean sampling programs at Portland confirmed the presence of anomalous gold zones. Drilling at the Grand Flaneur prospect in 2022 and the Popes prospect in 2023 have both confirmed the presence of gold mineralization.
Warrentinna Project
The Warrentinna project was acquired in 2023 from Greatland Gold plc (LSE:GGP). The Project is located in northeast Tasmania and covers an area of approximately 37 sq km immediately adjacent to Flynn’s existing Lyndhurst Project. The tenement encompasses two historic goldfields, Forester and Warrentinna. Both fields produced high-grade gold deposits in the late 1800s and early 1900s. The Warrentinna goldfield is defined by numerous historic workings and largely untested prospects over a strike length of 6 kilometres.
Initial drilling by Flynn in September/October 2023 at Warrentinna consisted of two diamond drill holes, designed to test the continuity and extension of orogenic style gold mineralisation identified in historical drilling. The holes are also designed to provide stratigraphic and structural information critical to advancing understanding of the project. Assay results are pending.
Northwest Tasmania
The company has two projects in the Northwest Tasmania region: the Henty zinc project and the Firetower project.
Henty Zinc Project
The project is a 130 sq. km land holding under two 100 percent owned exploration licences and provides the company with a dominant position in a rich base metals field with proximity to an existing zinc/lead concentrate producer (MMG’s Rosebery mine).
The Henty Project has a significant pipeline of exploration targets with the Mariposa and Grieves Siding prospects ready for resource drilling
Firetower Project
The project was acquired in 2023 from Greatland Gold plc (LSE: GGP). The project spans more than 62 sq. kms. and represents an advanced gold plus battery metals project, which includes three notable prospects: Firetower, Firetower East and Firetower West. The Firetower project lies in the highly mineralized Mt Read volcanic sequence which hosts major polymetallic base metals and gold deposits such as Hellyer and Rosebery, copper-gold deposits such as Mt Lyell (3 million tons contained copper, 3.1 Moz contained gold), and the Henty gold mine (1.64 Moz gold @ 12.5 g/t gold).
Resampling of the historic core at Firetower has confirmed the significant potential for gold and critical minerals - cobalt, tungsten and copper. The results have made it clear this project represents an exciting polymetallic opportunity. The company commenced a diamond drilling program in October 2023 to target both the gold and polymetallic minerals potential.
Western Australia
Flynn holds five gold-lithium projects in the resources-rich state of Western Australia, strategically located near large gold and lithium deposits or in regions that are relatively under-explored for lithium.
The five projects include: Mt. Dove and Yarrie in Pilbara; and Koolyanobbing, Forrestania and Lake Johnston in Yilgarn.
Mt Dove Project
Located 70 kilometres south of Port Hedland in the Pilbara region, Mt Dove comprises five granted licences covering 86.6 sq. kms. and one tenement application. The project is located near the large Hemi gold deposit (De Grey Mining, ASX:DEG) and the large lithium mines at Pilgangoora and Wodgina. The company has completed two soil sampling programs at Mt Dove, which have identified lithium and gold anomalies. The follow-up exploration, which is likely to include aircore drilling, intends to test lithium and gold anomalies identified during the soil sampling program completed in 2022 and 2023.
Yarrie Project
The Yarrie Project comprises three tenements and one application covering 424 sq. kms. Very limited historical exploration has been undertaken for lithium, gold and copper on the project. The project is highly prospective for iron ore, being close to historic mining operations and existing rail infrastructure.
Forrestania Project
The Forrestania project consists of one exploration licence and five exploration licence applications over a 320 sq. km. area. It is located near the Mt Holland lithium deposit (Wesfarmers (ASX:WES)/ SQM (NYSE:SQM) JV) and high-grade nickel deposits, Flying Fox and Maggie Hays.
Lake Johnston Project
Lake Johnston consists of five exploration licenses over a 116 sq. km. area, and is located near the Burmeister lithium discovery (TG Metals (ASX:TG6)) and the Medcalf, Lake Percy and Mt Day Lithium projects.
Koolyanobbing Project
Koolyanobbing comprises one exploration licence and two applications targeting gold and lithium mineralization over an 82 sq. km. area in the Marda-Diemals greenstone belt.
Parker Dome Project
In addition to the above-mentioned projects, Flynn has secured an option agreement to purchase two exploration licences at the Parker Dome project in Western Australia, which is considered highly prospective for lithium. The Parker Dome project covers 42 sq. kms. and is situated 50 kilometres north of the world-class Mount Holland lithium project in Western Australia. The licences are fully permitted allowing for an immediate commencement of exploration and drilling. The company expects to commence drilling at Parker Dome in early 2024.
Management Team
Clive Duncan – Non-executive Chair
Clive Duncan has over four decades of experience at big box hardware chain Bunnings, including as chief operating officer and company director. He has rich experience in corporate and business development, including mergers and acquisitions, business integrations, corporate government, strategy development and marketing. He has completed post-graduate studies at Harvard University and London Business School and is a member of the Australian Institute of Company Directors. He is a long-term significant shareholder of Flynn Gold’s predecessor companies.
Neil Marston – Chief Executive Officer and Managing Director
Neil Marston was appointed managing director in May 2023 and has been the company CEO since August 2022. He has more than 30 years of experience in the mining and minerals exploration sector and is a proven ASX-listed company leader, with a strong governance and corporate finance background. Previously, he held several senior roles including managing director at Bryah Resources (ASX:BYH) and Horseshoe Metals (ASX:HOR).
Sam Garrett – Technical Director
Sam Garrett has more than 30 years of exploration management, project assessment and operational experience with multinational and junior mining and exploration companies, including Phelps Dodge and Cyprus Gold. He has a background in copper and gold exploration with strong exposure to iron ore, base metals and specialist commodities. He is associated with discoveries at Mt Elliott (copper), Havieron (copper-gold), and Tujuh Bukit (gold). Moreover, he co-founded Flynn Gold and its predecessor Pacific Trends Resources.
John Forwood – Non-executive Director
John Forwood is a director and chief investment officer of Lowell Resources Funds Management (LRFM). He is qualified as a lawyer and geologist and has more than 20 years of resources financing experience, including with ASX-listed Lowell Resources Trust (ASX:LRT), as a director of RMB Resources, and as manager of Telluride Investment Trust.
This article was written in collaboration with Couloir Capital.
Quarterly Activities Report – March 2024
Chariot Corporation Limited (“Chariot”, “CC9” or the “Company”) is pleased to present our Activities Report and Appendix 5B for the period ending 31 March 2024. In the first quarter of 2024, the Company announced its first hard rock lithium discovery, which was made during the first phase of its diamond core drilling program at Black Mountain, Wyoming USA (“Phase 1 Drilling Program”). Details of the Phase 1 Drilling Program results are set forth below. Chariot is well-positioned for 2024 with adequate liquidity to support further exploration activities across its lithium portfolio and to continue to deliver shareholder value.
HIGHLIGHTS
- Maiden drilling campaign carried out at Black Mountain completed
- First three (3) drill holes all intersected high-grade spodumene mineralisation confirming the potential of the Black Mountain LCT pegmatite swarms
- Black Mountain project expanded by 218 contiguous claims resulting in a 206% increase in project tenure area
- Chariot group cash position of A$5.18 million as of 31 March 2024
Black Mountain Project
Phase 1 Drilling Program
The Phase 1 Drilling Program commenced on 10 November 2023, drilling triple tube HQ sized core using a Boart Longyear LF90 Surface Diamond Core Drill Rig. The Phase 1 Drilling Program was completed despite adverse weather conditions and a restrictive disturbance limit of only 5-acres required, under the Notice of Intent approved by Wyoming’s Bureau of Land Management. Unfortunately, the combination of the restrictive disturbance limit and the adverse weather conditions, severely limited the extent of drilling that could be undertaken in the Phase 1 Drilling Program. The Company is eager to move on to the next phase of drilling at Black Mountain and is positioning itself to do so with a substantially liberalized disturbance limit.
Black Mountain Hard Rock Lithium Potential
On 2 February 2024, the Company announced the initial assay results for the first three (3) drill holes, which had all intersected high-grade spodumene mineralisation confirming the potential of the Black Mountain LCT pegmatite swarms.
Notable results from the first three (3) holes included:
- BMDDH23_01 15.48m @ 1.12% Li2O and 79ppm Ta2O5 from 2.74m, including 4.27m @ 2.46% Li2O and 128 ppm Ta2O5 from 9.94m
- BMDDH23_02 14.33m @ 0.84% Li2O and 61ppm Ta2O5 from 1.83m, including 2.29m @ 3.09% Li2O and 138ppm Ta2O5 from 10.67m
- BMDDH23_03 18.81m @ 0.85% Li2O and 98ppm Ta2O5 from 45.26m, including 5.79m @ 1.08% Li2O and 105ppm Ta2O5 from 47.55m
Black Mountain Base Metals Potential
The upper section of BMDDH23_01 also intersected pyrite-pyrrhotite mineralisation, occurring as veinlets and dissemination within the biotite schist over an interval of approximately 100m. Based on the location of this drill hole relative to an 800m long by 150m wise zone of anomalous zinc-in-soils, the Company is optimistic that is has intersected the peripheral portion of a potentially larger base metal mineral system, with selected intervals grading up to 0.6% (6,012ppm) Cu, 1.0% (9,931ppm) Zn and 15.4% (154,412ppm) Pb. The zinc and lead anomalies are situated on the contact between metabasalt to the south and metasediments to the north coincident with a two-meter-wide zone of black massive chert outcrops along the southern margin of the soil anomaly.
Black Mountain Project Land Position Expanded
During the first quarter of 2024 the Company significantly expanded the footprint of the Black Mountain project by staking and filing with the Bureau of Land Management, 218 unpatented lode mining claims (“Claims”) totalling 1,807 ha of tenure (“BMX Claims”). The Black Mountain project now comprises 352 Claims covering 2,686 ha of tenure.
The BMX Claims are contiguous to the Company’s existing Black Mountain Claims and represent a 206% increase in the footprint of Black Mountain. The BMX Claims were staked as a buffer and to cover possible extensions to the pegmatite dike swarms under shallow cover at Black Mountain.
Click here for the full ASX Release
This article includes content from Chariot Corporation, 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.
Lithium Universe Limited (ASX: LU7) – Trading Halt
Description
The securities of Lithium Universe Limited (‘LU7’) will be placed in trading halt at the request of LU7, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 29 April 2024 or when the announcement is released to the market.
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.
Quarterly Activities and Cash Flow Report for the Quarter Ended 31 March 2024
Atlantic Lithium looks ahead to major near-term value-drivers as it advances the Ewoyaa Lithium Project towards shovel-readiness
The Board of Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce its Quarterly Activities and Cash Flow Report for the period ended 31 March 2024.
Highlights from the Reporting Period:
Project Development:
- Overwhelmingly strong local community support demonstrated at the Environmental Protection Agency (“EPA”) Scoping Public Hearing in respect of the Company’s Ewoyaa Lithium Project (“Ewoyaa” or “the Project”) in Ghana.
- Completion and submission of Ewoyaa Feldspar Study and Downstream Conversion Study to Ghana’s Minerals Commission, as agreed under the terms of the grant of the Mining Lease for the Project.
- Engagement with industry-leading engineering firms with proven experience in Ghana ahead of tender process for the award of the Engineering, Procurement, and Construction Management (“EPCM”) contract.
- Further key strategic appointments in support of mine development.
Exploration:
- Assay results received for a total of 9,734m of drilling completed in 2023 over the new Dog-Leg target, Okwesi, Anokyi and Ewoyaa South-2 deposits, which sit outside of the current JORC (2012) compliant 35.3Mt @ 1.25% Li2O Mineral Resource Estimate (“MRE”)1 for the Project.
- Results reported during the period represent the final results for the 2023 drilling season, with a total of 25,898m drilled throughout the year.
- Multiple high-grade and broad drill intersections reported in results, including at Dog-Leg, where drilling intersected a shallow-dipping, near surface mineralised pegmatite body with true thicknesses of up to 35m.
- Highlight intersections include 69m at 1.25% Li2O from 45m and 83m at 1% Li2O from 36m at Dog-Leg.
- Completion of reverse circulation (“RC”) and diamond core (“DD”) resource growth drilling at the Dog-Leg target, with assays pending.
- Results of drilling completed in 2023 and results pending for 2024 to be incorporated into a MRE upgrade, targeted during H2 2024.
- Completion of 3,177m of plant site sterilisation drilling, with no mineralisation intersected, providing confidence in the proposed plant site location.
- Final approval received to commence field work at the newly-granted Senya Beraku prospecting licence.
- Promotion of Exploration Manager Iwan Williams to General Manager, Exploration and Country Manager Abdul Razak to Exploration Manager, Ghana following the decision of Head of Business Development & Chief Geologist Len Kolff to step down from his roles at the Company.
- Changes to the exploration team focused on enabling the advancement of the Company’s exploration asset pipeline and the evaluation of new value-accretive opportunities to ensure the long-term growth of the Company.
Corporate:
- Completion of the Minerals Income Investment Fund of Ghana’s (“MIIF”) Subscription for 19,245,574 Atlantic Lithium shares for a value of US$5m, representing Stage 1 of MIIF’s agreed total US$32.9 million Strategic Investment to expedite the development of the Project towards production.
- Strong interest for spodumene concentrate to be produced at Ewoyaa continues to be demonstrated from a range of industry players around the world through the Company’s ongoing competitive offtake partnering process to secure funding for a portion of the remaining 50% available feedstock from Ewoyaa.
- Formal bids from remaining interested parties expected to be received in the coming weeks ahead of final negotiations.
- Purchase of 24.3m Atlantic Lithium shares at a premium by major shareholder Assore International Holdings (“Assore”) from strategic funding partner Piedmont Lithium Inc. (NASDAQ: PLL; ASX: PLL, “Piedmont”).
- Further purchase of the Company’s shares from members of the Company’s senior leadership team, equating to a total value of A$5,192,393 (£2,794,015) since March 2023.
“With our sights firmly set on breaking ground at the Ewoyaa Lithium Project later this year, Atlantic Lithium remains fully focused on activities that de-risk the Project and move Ewoyaa closer to shovel-readiness.
“Key to achieving this milestone is the success of the ongoing permitting process, which is advancing as anticipated. We are proud to note the overwhelming support of our local communities, who, as demonstrated during the recent EPA Scoping Public Hearing, are eager to see Ewoyaa deliver the generational benefits expected to be brought about from lithium production in their municipality.
“Following the completion of its US$5m investment in the Company, we are delighted to welcome the Minerals Income Investment Fund of Ghana to the Atlantic Lithium share register as a highly valued local stakeholder and key funding partner. MIIF’s subscription represents the first stage of its planned US$32.9m total investment, expected to expedite the development of the Project. We continue to work closely with MIIF to complete the remainder of its planned Project- level investment in due course.
“Significant work in respect of the agreed terms of the grant of the Mining Lease for the Project has also been completed during the period. Both the Feldspar Study and Downstream Study have been finalised and submitted to the Minerals Commission, and we are working with the Ghana Stock Exchange and associated parties to enable our listing on the GSE as soon as possible.
“Concurrent to these, we continue to enhance the value of the Project; both through drilling completed in 2023 and planned for the remainder of 2024. Drilling completed in 2023 has delivered encouraging results, including new targets for follow-on work, to be undertaken in H2 2024. We look forward to incorporating the 2023 results and results to be received from drilling planned for H2 2024 into a MRE update later this year.
“I would like to congratulate Iwan Williams and Abdul Razak on their promotions, to General Manager, Exploration and Exploration Manager, Ghana, respectively, following Len’s decision to step down from his roles at the Company. Iwan and Razak have led the Company’s exploration activities alongside Len since before the delivery of the Maiden MRE at Ewoyaa in 2020, and are, therefore, well-credentialled to lead the Company’s exploration efforts, focused primarily on advancing our current portfolio of assets in West Africa, as well as assessing new opportunities in Ghana and elsewhere.
“On behalf of the Board, I would also like to thank Len for his significant contributions to the leadership of the Company throughout his nine years with Atlantic Lithium. His expertise has been fundamental to getting us to where we are today, notably his role in the discovery of the Project and for stepping up to assume the role of Interim Chief Executive Officer following the untimely passing of the Company’s founder, Vincent Mascolo. I wish him every success in his future endeavours.
“Looking forward, we have a number of other major catalysts in the months ahead of us. These include the conclusion of the competitive offiake partnering process for a portion of Ewoyaa’s remaining offiake available, which will serve as a major funding milestone for the Company, the ratification of the Mining Lease by parliament and, in line with the ongoing permitting process, the grant of the final permits; namely the EPA Permit and Mine Operating Permit, which are required by the Company to enable the commencement of construction at Ewoyaa.
“We look forward to updating the market on our progress in due course.”
Click here for the full ASX Release
This article includes content from Atlantic 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.
Forward Water Technologies
Overview
Forward Water Technologies (TSXV:FWTC) is helping lithium mining companies and other industries reduce their environmental impact through its innovative wastewater treatment technology that enables industrial operations to reduce liquid waste volume by up to 95 percent.
Environmental, social and governance (ESG) ratings continue to be a key business strategy for organizations as they impact public perception and partnership possibilities. For water-intensive industries, such as mining, sustainable wastewater management is critical.
Transformative wastewater technologies are critical for both businesses and the world’s population. In fact, unless sufficient progress is achieved, UNICEF and WHO estimate that 1.6 billion people will be without access to safe drinking water by 2030, and 2.8 billion will be without access to safe sanitation and hygiene. Water treatment technologies can disrupt current trends and improve global access to safe drinking water.Through its Forward Osmosis (FO) technology, Forward Water is providing an environmentally friendly alternative to traditional wastewater disposal. Traditionally, wastewater disposal requires transporting untreated wastewater for deep well disposal or high-intensity thermal treatment.
Forward Water’s FO system is installed at the client site, and wastewater is treated to reduce waste volume and produce valuable clean water for reuse in the manufacturing process. Then, the significantly reduced volume of wastewater is transported and disposed of, significantly saving on transportation and disposal costs.
The FO technology targets three massive sectors: industrial wastewater, mining and food manufacturing. Forward Water’s unique and patented FO technology achieves high-rate water extraction within a low-energy continuous process. The process reduces waste and allows up to 95 percent water recovery, ready for reuse.
Forward Water’s Li-FO™ technology is ideal for lithium-brine mining operations, allowing mines to “fine tune” brine sources to improve concentration by up to 20 times. This results in improved recovery and makes lower-concentration brines economically viable. Forward Water is currently embarking on an early development testing project to further evaluate and refine the technology’s viability in lithium mining.
In 2023, the company’s wholly owned subsidiary, Forward Water Technologies Inc., licensed specific intellectual property from FUJIFILM Corporation to solidify the protection of its water treatment technology platform.
CleanTech Lithium (AIM:CTL,Frankfurt:T2N,OTC:CTLHF) has contracted FWT to provide advisory services for the support and development of CleanTech Lithium's direct lithium extraction (DLE) process in Chile. The collaboration will use FWT’s industrial forward osmosis system in the hyper-concentrating of CleanTech Lithium's eluate and its conversion into battery-grade lithium carbonate through Conductive Energy's DLE process.
Howie Honeyman, CEO, explained in an interview how the company’s technology can improve lithium mining operations. “A lot of lithium being mined today around the world is coming from underground aquifers that store the lithium brine. The challenge is that the lithium is surrounded by other minerals and salts, requiring chemical ‘tweezers’ to pluck out that lithium. What we can do is, at multiple places in that process, we can concentrate that lithium-containing water stream, which makes it far easier for these miners to handle the volumes they need to extract that lithium.”
An experienced management team with technical expertise leads the company towards further refining and deploying its technology. The team includes experts in materials science, chemistry and engineering. Additional experts in corporate administration and financing round out the leadership team to lead the company toward its goals.
Company Highlights
- Forward Water Technologies has developed a patented wastewater treatment technology that reduces wastewater volume and improves reusability across multiple industries, including mining and food manufacturing.
- The company’s Forward Osmosis (FO) technology disrupts the traditional method of wastewater disposal by reducing the amount of waste that must be transported and disposed of, directly reducing costs.
- The FO technology also improves water reusability by up to 95 percent, reducing the expense of importing water for industrial processes.
- The Forward Water Technologies Li-FO™ process is applicable in the lithium mining sector by improving concentration by up to 20 times, allowing organizations to improve extraction efficiency.
- The company has partnered with a lithium-brine extraction operation to evaluate its Li-FO™ technology.
- Forward Water Technologies is in early negotiations to deliver an FWTC forward osmosis pilot system on-site in Chile to support a customer's lithium extraction process.
- Forward Water Technologies has licensed specific intellectual property from FUJIFILM Corporation to solidify the protection of its water treatment technology platform.
- The company has been contracted by CleanTech Lithium to provide advisory services for the support and development of CleanTech Lithium's direct lithium extraction processes in Chile.
- An experienced management team with a blend of relevant technical expertise leads the company toward refining and marketing its technology.
Key Project
Forward Osmosis Water Treatment
Forward Osmosis is a naturally occurring process in which water is spontaneously drawn across a membrane when one solution is higher in salt concentration than the other. The difference in salinity, known as the osmotic gradient, creates a low-energy water treatment process.
Forward Water Technologies has leveraged the naturally occurring process to innovate its patented, three-step FO technology, enabling a 95 percent wastewater reduction and 95 percent water recovery.
Project Highlights:
- Patented Three-Step Process: Forward Water Technologies FO process achieves low-energy and high-rate water extraction with a unique three-step design:
- Water Extraction: Water is drawn across the FO membrane into a salt draw solution. The combination of the patented draw solution and unique membrane “locks” the draw solution on one side of the membrane, creating a true closed-loop process.
- Water/Salt Separation: Next, a switchable water salt (SWS) achieves water/salt separation as low-grade heat is applied, and it phases from liquid to gas. As the gas leaves the solution, clean water is left behind. The energy necessary for this step is often found in many facilities in the form of waste heat.
- Salt Draw Reconcentration: Finally, as the gas leaves the solution, it is captured within the closed-loop system and is passively cooled, causing it to phase back into liquid form as an SWS. The SWS liquid is collected and recycled back to the front of the membranes in the water extraction step, creating a continuous process.
- Widely Applicable Water Treatment: The low-energy process allows organizations across several industries to improve water reclamation and reduce wastewater by up to 95 percent. Additionally, the process allows for up to 20 times concentration, making the process amenable to lithium-brine extraction and other potential applications.
- Significant Cost Savings: The primary value proposition for the FO process is cost reduction in wastewater transportation and disposal. With the process in place, more water is reclaimed for reuse in manufacturing, which reduces the raw volume of wastewater that must be transported and disposed of.
Management Team
Howie Honeyman - Chief Executive Officer and President
Dr. Howie Honeyman has 20 years of experience commercializing new technologies at Xerox, Cabot, E Ink, Natrix Separations and as former CTO of GreenCentre Canada. Honeyman commercialized high-capacity, high-throughput membranes for bioprocessing as SVP of Natrix Separations, which has since been acquired by Millipore-Sigma. Since 2015, Honeyman has been leading Forward Water to become a premier wastewater treatment solution. Honeyman is also an inventor of record on over 50 US patents and holds a PhD in chemistry from the University of Toronto.
Michael Willetts - Chief Financial Officer
Michael Willetts has over 25 years in financial leadership roles primarily in manufacturing, from large multinational businesses to startups, both public and private. He previously worked as an engineer in the automotive industry before entering into finance at Ford Motor Company. Willets went on to progressively larger finance roles in several international automotive suppliers (Textron, GKN, DSM) and Canadian manufacturers (Armtec, Stronach International, AirBoss of America). Willetts is currently providing fractional CFO services through WD Numeric Corporate Services in the manufacturing, SaaS and cannabis industries. Willetts graduated with a BASc, BComm and MBA from the University of Windsor.
Wayne Maddever - Chief Operating Officer
Dr. Wayne Maddever received his Ph.D. in materials science engineering from the University of Toronto. Since 1985, he has held senior executive management positions with technically based businesses in start-up, turnaround or acquisition situations where his skills in change management have brought considerable success in the commercialization of new technologies. His experience in both private and public companies, domestically and internationally, spans a broad variety of industries, including bio and advanced materials, precision manufacturing, recycling, waste-to-energy and medical devices. He holds a number of patents in several fields. He is a fellow of the Canadian Academy of Engineering. In addition to his duties as COO of Forward Water, he is currently portfolio manager at Bioindustrial Innovation Canada, one of the major shareholders of Forward Water.
Grant Thornley - VP Engineering Solution Sales
Grant Thornley is a business strategist with more than 25 years of experience. He has developed and grown international water/wastewater markets through innovative growth hacking techniques and processes, synergized with product development and positioning, data analytics and acceleration of go-to-market strategies through alliances and partnerships. Having expertise in chemical, mechanical and biological treatment processes as well as designing hundreds of municipal and industrial applications, Thornley brings a knowledge-to-action approach to helping clients solve problems and realize new opportunities in water reuse, energy conservation and CO2 reduction.
Leonard Seed - Director of Engineering & Operations
Leonard Seed has over 18 years of experience developing and commercializing new water and wastewater treatment technologies, primarily in a start-up environment. Seed is named as an inventor on over seven patents and has authored several publications. Seed is a professional engineer and has an MSc in environmental engineering from the University of Guelph. Leonard holds inventorship on seven US patents and is an instructor at Mohawk College teaching aspects of water treatment technologies and leading research efforts on forward osmosis.
Philip Jessop - Executive Research Director
Dr. Philip Jessop is a professor and Canada Research Chair of Green Chemistry at the Department of Chemistry, Queen’s University in Kingston, Ontario. He also serves as the technical director of GreenCentre Canada and executive research director at Forward Water Technologies. After his Ph.D. (British Columbia, 1991) and a postdoctoral appointment (Toronto, 1992), he became a contract researcher in Japan working for R. Noyori (Nobel Prize 2001). As a professor at the University of California-Davis (1996-2003) and since then at Queen’s, he has studied green solvents and the chemistry of carbon dioxide. Distinctions include the NSERC Polanyi Award (2008), Killam Research Fellowship (2010), Canadian Green Chemistry & Engineering Award (2012), Eni Award (2013), Fellowship in the Royal Society of Canada (2013), a Canada Research Chair Tier 1 (2013 to 2020), and the NSERC Brockhouse Prize (2019). He serves as chair of the editorial board for the journal Green Chemistry, has chaired three international conferences, and helped create GreenCentre Canada, a national center of excellence for the commercialization of green chemistry technologies. Forward Water is a spin-off company based on Dr. Jessop’s switchable solvents.
Board Changes
Mr. Sondergaard's appointment to the Board follows his recent appointment as Country Manager for Canada, delivering on White Cliff's stated objective of building a first class operations team. Eric brings over 20 years of operational experience in the mining industry, including significant expertise in frontier exploration and project management. Notably, he played a pivotal role in the identification of key projects recently acquired by the Company and is an expert in remote project development, logistics and has a proven track record of creating value for shareholders.
In conjunction with Mr. Sondergaard's appointment, White Cliff Minerals also announces the retirement of Mr. Ed Mead (“Ed”) from the Board of Directors effective immediately however will continue to provide, as required, consulting services to the Company in relation to its Australian portfolio. The Company would like to thank Ed for his invaluable contribution throughout this transition phase. As part of this ongoing support, and in recognition of the valuable contribution to the formation of the newly focussed and revitalised White Cliff Minerals Ltd, Ed will maintain his full allocation of the Tranche A incentive scheme with the balance becoming void as per the terms and conditions of the incentive scheme itself.
As part of the Board restructure, Troy Whitaker will move to the role of Managing Director of the Company. The remuneration for both Eric and Troy remain unchanged.
Commenting on these developments, White Cliff Chairman, Roderick McIllree, stated: "The changes required to facilitate the change of strategic direction are now complete. We are delighted to welcome someone of Eric’s calibre with a proven track record to the Board. His involvement will be critical as the Company prepares for its maiden field campaign. We also extend our sincere thanks to Ed Mead for his dedication and service to the Company and wish him the best for his future endeavours."
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This article includes content from White Cliff Minerals 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.
Quarterly Activities Report for the Period Ended 31 March 2024
Oceana Lithium Limited (ASX: OCN, “Oceana” or “the Company”) is pleased to present its activities report for the March 2024 quarter.
Highlights
Solonópole Project, Ceará, Brazil
- Anomalous lithium values above 100 ppm (and up to 631 ppm) found in 383 soil samples within existing and new target areas.
- Integration and interpretation of these soil sample results with data from geophysics, geological mapping (138 line-km), trenching and RC drilling (~2,000m) further enhance prospectivity of existing and new targets.
- Combined datasets confirmed several swarms of pegmatite bodies striking in a NE-SW and E-W directions and identified new high priority areas.
- Nira interpreted to be the most prospective new target, with 180 soil samples of >100 ppm Li and as high as 524 ppm Li covering an area of at least 1km2.
- Nira also features 17 pegmatite outcrops with average widths of up to 30 meters and strike lengths from 200m to 600m.
- Planning for the next follow-up drilling campaign is underway.
Napperby Project, Northern Territory, Australia
- Oceana’s Napperby Project covers some of Arunta Province’s hottest granites plutons, the Wangala Granite (uranium) and Ennugan Mountains Granite (uranium/thorium).
- Both granite plutons show outstanding uranium/thorium ratios and are almost fully encapsulated within Napperby’s EL32836 and ELA32841.
- Follow-up exploration activities will target uranium and Rare Earth Elements (REEs) in parallel with Lithium-Caesium-Tantalum (LCT) pegmatites.
Corporate
- Experienced geologist and mining executive, Aidan Platel, appointed as non- executive director.
- Brazilian-based geologist, Mike Sousa, appointed as Exploration Manager and Competent Person.
- The Company remains well-funded with cash at 31 March of ~$2.67m.
Solonópole Project, Ceará State, Brazil
The Solonópole Project area is located in the state of Ceará, north-eastern Brazil and consists of ten (10) exploration permits covering approximately 124km2 (Figure 1), owned by Oceana’s subsidiary Ceará Litio. The project is approximately three to four hours by road from the state capital Fortaleza and deep-water port of Pecém, and is well serviced by sealed highways and high voltage electricity.
Figure 1: Solonópole Project permits and targets drilled in May – June 2023 (red dots)
Large-Scale Soil Sampling and Geological Mapping at Solonópole Lithium Project
The large-scale infill soil sampling program that commenced in March 2023 continued over the project area (Figure 2). The optimized sampling grids are along 200m spaced lines with 25m sampling stations, aligned north south to cut across all typical pegmatite strike directions in this area.
As at 31 March 2024, over 10,300 soil samples had been collected from Solonópole and 8,741 soil samples had been analysed by X-Ray Fluorescence (XRF) for Lithium-Caesium-Tantalum (LCT) pathfinders, of which 1,908 soil samples have lab results validated by Oceana´s internal QA/QC. Anomalous lithium values above 100 ppm and up to 631 ppm were found in 383 soil samples within existing and new target areas.
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This article includes content from Oceana 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.
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