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The New Chilean National Lithium Policy
Lithium Power International Limited (ASX: LPI) (“LPI” or the “Company”) is pleased to provide updated comments on the recent announcement of the new National Lithium Policy in Chile, and the potential impact it will have on the company’s Maricunga lithium brine project.
On the evening of 20 April 2023, Chilean President Gabriel Boric announced the long awaited National Lithium Policy (“NLP” or the “Policy”). The NLP outlines the plans for the future implementation of lithium exploration and exploitation policies that are intended to bring Chile back to the forefront of global lithium production.
The NLP is different from the position of previous administrations, with this new policy being the result of a consultation process with a wide variety of stakeholders nationally and internationally. It has also taken into consideration the objectives of the Chilean State, including its role to participate in the efficient and rapid development of the lithium industry. This is of strategic concern both to Chile and the world as society moves towards “electrification.” LPI and its subsidiary Minera Salar Blanco have been in constant dialogue with the Chilean government and private institutions that have participated in the development of the NLP.
Lithium Power International’s Director and MSB’s Chairman, Russell Barwick, commented:
“We are pleased that the National Lithium Policy, as presented last week in Santiago, is very much along the lines of what was discussed and expected in our various discussions with Chilean authorities. While a central part of the strategy focuses on current operations and future exploitation of the Atacama Salar, there is also an outline on the future development of projects in other Chilean Salars. This is the case with our flagship Maricunga Project, which is the largest, most advanced and fully permitted pre-construction lithium project in Chile.”
Even though the Policy has primarily concentrated its focus on the huge lithium resource within the Atacama salar, LPI wishes to clarify some core elements of the new Policy as it relates to the Company’s Maricunga Project and assets:
- The Maricunga Stage One project is fully permitted for construction. Its Environmental Permit (“EIA”) was approved in 2020 by the “Servicio de Evaluación Ambiental” (“SEA”), which was explicitly mentioned by President Boric as the government agency in charge of environmental aspects of any future project in Chile. LPI’s EIA permit was ratified by the Committee of Ministers of the Chilean Government in 2022, rejecting all the objections submitted by third parties. It also obtained the necessary Chilean Nuclear Energy Commission (“CCHEN”) permit in 2018 that allows LPI to export lithium products from Chile.
- With regards to the inclusion of communities and the environmental and technical aspects mentioned on the new Policy, LPI’s Maricunga Stage One project development serves as an example by incorporating all social and community agreements as an integral part of its environmental permit. This includes Maricunga being one of the few projects in Chile with a comprehensive indigenous consultation process executed by the Government under the ILO Convention 169, defining a new standard of social relationships. The Company is proud of these achievements in promoting community participation over the long-term.
- The Maricunga project has established broad ranging the sustainable development initiatives, which sets a unique and complete ESG profile standard for the future of the project. LPI’s corporate vision aims to make the Maricunga Project one of the first lithium operations globally to achieve carbon neutrality.
- The Company confirms that its wholly owned subsidiary Minera Salar Blanco (“MSB”), is the sole owner of the property and concessions of both Stage One and Stage Two of the Maricunga Project. There are no current legal processes challenging this aspect of the project. This is a fundamental difference from the current operations in the Atacama Salar, where state-owned company CORFO is the owner of the properties and concessions. CORFO then leases these concessions to the current operators in Atacama for a set period of time. It is also important to note that the mining concessions that serve as the base for the Maricunga Stage One project, were given by the Chilean Government, before 1979 when only then did lithium become defined as a strategic material.
- The Maricunga Stage One concessions, because of their pre-1979 “Old Code” status, do not require a CEOL (Special Lithium Operation Contract) for exploitation. The Stage One project is shovel ready, and currently awaiting the closing of its financing process to begin construction.
- It is important also to clarify that a CEOL does not provide any claim to ownership over the area included under the CEOL contract. CEOL’s explicitly establish, that holders of the CEOL have no rights to enter the area, or execute any activity, (exploration or exploitation ), without a previous negotiation with the owners of the mining concessions.
- LPI embraces the possibilities for future public-private alliances as declared by the NLP, for the development of Stage Two for the Maricunga project, which involve its post-1979 or “New Code” concessions. The Company will continue to work closely with the Chilean Government to transform the Maricunga Stage Two project into the first example of a public-private alliance under the new parameters established by the new Policy.
- The Company acknowledges the existence of the Australia–Chile Free Trade Agreement (“FTA”), which came into force in 2009, being the first FTA between Australia and a Latin American country, as well as the Trans-Pacific Partnership (“TPP”) recently ratified by Australia and Chile. Both international arrangements will positively support these public- private alliances and also incorporate clear mechanisms for investment protection under international law.
- The new Policy does not constitute a nationalisation of the lithium industry in Chile. Its objective, as clarified by the Mining Minister, is to set the conditions and parameters for the country to have a more active involvement and higher financial returns in a strategic industry, particularly where those lithium resources are located on concessions already owned by the Chilean State on the Atacama Salar. The NLP also seeks to accelerate the development of new projects in the country.
- LPI is currently evaluating a number of financing options for the Maricunga Stage One project, ranging from strategic equity investment from potential offtake partners to debt/equity financing alternatives. The announcement and future implementation of the NLP is timely to provide the clarity and certainty required by financiers/investors on the parameters under which the Maricunga project will be developed.
Lithium Power International’s Chief Executive Officer, Cristobal Garcia-Huidobro, commented:
“We are very pleased to see that our hard work over the last seven years of advancing Maricunga Stage One project have been reflected in a development that closely mirrors the objectives of the newly announced National Lithium Policy. Technical advancement and innovation, environmental and social responsibility of the highest standard, and landmark community agreements that provide the community the opportunity to share in the exciting future of the growing lithium industry, are all in line with the objectives of the Strategy. We embrace the objective of Chile’s current administration to promote public-private associations as the path forward for the development of the Maricunga Stage Two project.
Since the announcement of the Strategy, there have been a number of differing opinions as to the effectiveness, practicality, and legality of the National Lithium Strategy and its objectives. LPI wants to clarify, that it believes the Policy is not a “one size-fits all” proposed legislation, and there are several specific elements that differentiate LPI’s Maricunga Project from the rest of the existing operations or future lithium projects in Chile. Rather than focus on what the legislation means for the future of the Chilean lithium industry, our focus is on what it means for our Maricunga lithium project and how it will transform the Chilean lithium industry through its development. At LPI, we welcome President Boric’s National Lithium Strategy and its objective to positively transform the Chilean lithium industry. Moreover, we are pleased to say we believe this strategy not only benefits LPI’s Maricunga Project but has the potential to accelerate the development of our Stage Two project. As such, we look forward to continuing our work with the Chilean Government to advance Maricunga.”
Click here for the full ASX Release
This article includes content from Lithium Power International, 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.
Livium Awarded ~A$850k Grant by WA Government to Develop a Battery Recycling Facility
Livium Ltd (ASX: LIT) ("Livium" or the "Company") is pleased to announce that its wholly owned subsidiary Envirostream Australia Pty Ltd ("Envirostream") - which is leading Australia's battery recycling industry - has been awarded a -AS850k grant from the Western Australia ("WA") government. This funding will be used to support the development of Envirostream's battery recycling facility in WA, marking a significant milestone in Envirostream's efforts to build a nationwide solution for electronic waste ("e-waste") management.
HIGHLIGHTS
- Livium has been awarded a -A$850k grant from the Western Australian government
- The grant will be used to partially fund the development of a battery recycling facility in WA
- This grant is being awarded under the WA government's electronic waste infrastructure grant funding program
- The development of a WA recycling facility is aligned with the Company's strategic objective of developing nationwide collection, sorting and storage capabilities
The grant will be used to establish a cutting-edge battery sorting and dismantling recycling facility ("WA Facility"). The WA Facility, will focus on the collection, sorting, discharge and storage of batteries. Batteries will then be transported to Envirostream's Campbellfield facility for final processing to Mixed Metal Dust ("MMD") and other metals. The WA Facility is expected to play a pivotal role in transforming Envirostream's collection capabilities and service footprint across the country.
The award of the grant follows a rigorous evaluation process by the WA government, who noted the quality, innovation, and potential impact of the WA Facility. The WA government recognises the value it will bring to the community and acknowledged Envirostream's dedication and commitment to making a positive difference. The grant is subject to entering into a funding agreement with the WA government and customary due diligence checks, which is materially complete.
This grant forms part of the WA government's broader commitment to e-waste recycling and is part of recently announced A$5.4m in additional grants allocated to support e-waste recycling initiatives across the state. To date, the WA government has allocated -A$10m in grants to boost the local e-waste recycling industry. This commitment underpins the importance of sustainable recycling infrastructure in WA and aligns with the Company's objectives to drive environmental progress across Australia.
The development of this recycling facility is a core component of Livium's strategic recycling roadmap. This roadmap envisions a comprehensive national network for battery collection, sorting, and recycling that establishes integrated end-of-life battery processing domestically.
Comment from Livium CEO and Managing Director, Simon Linge
"This grant from the WA government represents a meaningful step forward in our mission to establish a sustainable national battery recycling ecosystem.
WA's grants seek to increase e-waste reuse, storage, collection, processing and recycling capabilities, creating jobs and supporting WA's circular economy. We are grateful for the support and are committed to building a facility that will contribute to a greener future by efficiently managing e-waste and recovering valuable materials. The Company's long-term recycling strategy also involves the development of battery processing capabilities in WA and other states once minimum collection volumes are met.
By fostering local recycling capabilities, we aim to strengthen Australia's position in the global battery recycling industry and contribute to a circular economy."
Click here for the full ASX Release
This article includes content from Livium 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.
Total Voting Rights
In conformity with the Disclosure Guidance and Transparency Rules ("DTRs") of the Financial Conduct Authority (the "FCA"), CleanTech Lithium, an exploration and development company advancing lithium projects in Chile for the clean energy transition, announces that as at the date of this announcement the Company's issued share capital consists of 167,889,592 ordinary shares of 1p each with voting rights (the "Ordinary Shares").
The Company does not hold any Ordinary Shares in treasury and accordingly the total number of voting rights in the Company is 167,889,592.
The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's DTRs.
For further information contact: | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. www.ctlithium.com
Entitlement Issue Prospectus
Lithium Universe (ASX:LU7) presents this entitlement issue prospectus.
For a pro-rata non-renounceable entitlement issue of 1 Share for every 10 Shares held by those Shareholders registered at the Record Date at an issue price of $0.012 per Share, together with 1 free New Option for every 1 Share applied for and issued to raise up to $982,696 (based on the number of Shares on issue as at the date of this Prospectus) (Entitlement Offer).
This Prospectus also includes the Secondary Offers, which are set out in Section 2.2. The Secondary Offers and the Entitlement Offer are together referred to as the Offers.
IMPORTANT NOTICE
This document is important and should be read in its entirety. If, after reading this Prospectus you have any questions about the Securities being offered under this Prospectus or any other matter, then you should consult your professional advisers without delay.
The Securities offered by this Prospectus should be considered as highly speculative.
IMPORTANT NOTICE
This Prospectus is dated 1 November 2024 and was lodged with the ASIC on that date. The ASIC, ASX and their respective officers take no responsibility for the contents of this Prospectus or the merits of the investment to which this Prospectus relates.
No Securities may be issued on the basis of this Prospectus later than 13 months after the date of this Prospectus.
No person is authorised to give information or to make any representation in connection with this Prospectus, which is not contained in this Prospectus. Any information or representation not so contained may not be relied on as having been authorised by the Company in connection with this Prospectus.
Click here for the full ASX Release
This article includes content from Lithium Universe, 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 ION Energy Signs LOI with United Rare Earths, for a Business Combination
Lithium ION Energy Limited (TSXV: ION) (FSE: ZA4) ("ION" or the "Company") is pleased to share that it has entered into an LOI Agreement to progress a business combination with United Rare Earths Ltd. ("UnitedRE"), a US-based rare earths recycling and refining company. UnitedRE secured a strategic location to develop and has significantly advanced discussions with a federal agency for grant opportunities which includes non-recourse, non-dilutive funding. UnitedRE has support at the highest levels of the government and an instrumental MOU with a national laboratory that will advance rare earth recycling and refining technologies in the U.S.
Highlights:
- Cutting edge technology with a clear path to creating a low-carbon, domestic supply of rare earths to the US, leveraging non-recourse funding;
- Rare earth elements required for military applications and essential in the production of motors needed for the energy transition related to electrification - a complementary strategic transaction;
- Lithium continues to play an irreplaceable role in the energy transition and ION's assets will be at the ready to fill this requirement; and
- Strong combined management teams with deep relationships across government, technology, capital markets and mining.
"I am delighted to announce this major development with respect to becoming an integral player in the critical metals space. We believe completion of the proposed business combination will catapult ION Energy into a diversified battery and critical metals player on the global market. We believe strongly in our Lithium assets and the sheer scale and potential UnitedRE brings is compelling to achieve the vital objective of a cleaner, secure, traceable future for humanity," said Ali Haji, CEO & Director - Lithium ION Energy Ltd.
Jeffrey Willis, Chairman of UnitedRE, commented, "We are excited to announce this strategic step forward with ION Energy, marking a pivotal moment for both organizations. By aligning our resources and expertise with ION Energy, we are creating a foundation for accelerated growth and innovation. This partnership enhances our capability to deliver on our shared mission to establish a sustainable, resilient supply chain to power renewable technologies and the electrification movement. Our collective efforts, grounded in a shared vision, will empower us to meet the growing demand for rare earth materials, securing the supply chain for America's future."
Convertible Debentures:
To support this new development for the Company, ION Energy is also pleased to announce a non-brokered private placement offering of convertible debentures of the Company ("Debentures") at a price of US$1,000 per Debenture for aggregate gross proceeds of US$ 2,000,000 (the "Offering"). The Debentures will mature 24 months from the date of issue (the "Maturity Date"), carry an interest rate of 8% per year and will be convertible to common shares at a conversion price of $0.10 per share. In the event the 10-day volume weighted average price of the common shares of the Company exceeds $0.15 or more on the Toronto Stock Exchange, the Company will have the right to accelerate the conversion of the shares.
Proceeds of the Offering will be used to complete the business combination with UnitedRE and develop its rare earth recycling and refining technology, for the continued advancement and exploration of the Company's lithium assets, as well as working capital.
ION Energy expects the proposed business combination will constitute an "expedited acquisition" under the policies of the TSXV. Completion of each of the proposed business combination and the Offering remains subject to the approval of the TSXV.
About Lithium ION Energy Ltd.
Lithium ION Energy Ltd. (TSXV: ION) (FSE: ZA4) is committed to exploring and developing high quality lithium resources in strategic jurisdictions. ION's flagship, 65,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence award in Mongolia. ION also holds the 29,000+ hectare Urgakh Naran highly prospective lithium brine licence in Dorngovi Province in Mongolia. With the acquisition of the Bliss Lake and Little Nahani projects in NWT, Canada, ION has enhanced its lithium asset and jurisdiction profile. ION is well-poised to be a key player in the clean energy revolution, positioned well to service the world's increased demand for lithium. Information about the Company is available on its website, www.ionenergy.ca, or under its profile on SEDAR+ at www.sedarplus.ca.
About United Rare Earths Ltd.
United Rare Earths, Inc, a U.S. owned company, is dedicated to a domestic approach to the acquisition, refining, and distribution of magnet and rare earth minerals. UnitedRE is developing a domestic rare earths hub in northeast Tennessee. Operations will include a magnet recycling facility, a separation facility for newly mined materials and a technology center of excellence. The mission is to create a secure, reliable and traceable supply of rare earth minerals to support new and existing domestic based technologies.
In addition to an MOU with a national laboratory to assist with development, design planning and R&D optimization work, UnitedRE has also obtained a team of world-class advisors such as EY (Ernst & Young): research and strategy, King & Spaulding LLP: legal counsel, and Brownstein Hyatt Farber Schreck: government policy.
For further information:
COMPANY CONTACT: Ali Haji, ali@ionenergy.ca, 647-871-4571
COMPANY CONTACT: Jeffrey Willis jkwillis@unitedre.com, 307-287-6227
MEDIA CONTACT: Siloni Waraich, siloni@ionenergy.ca, 416-432-4920
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Information set forth in this news release contains forward-looking statements. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including with respect to the proposed business combination and the Company's operations after completion thereof, and other words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, including with respect to the entering into of the proposed business combination with UnitedRE and the Company's operations after the completion thereof. Important factors that could cause actual results to differ materially from ION Energy's expectations include, among others, regulatory approvals, the ability to negotiate and implement definitive agreements with respect to the business combination, uncertainties relating to availability and costs of financing needed in the future, changes in equity markets, risks related to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of lithium, and the ability to predict or counteract other factors relevant to the Company's business. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Quarterly Report Highlights
Strong Preliminary Feasibility for Bécancour Lithium Refinery
Lithium Universe Limited (‘LU7’) is pleased to present its Quarterly Activities and Cash Flow Report.
The Lithium Universe Strategy
- Positive, robust Bécancour Refinery PFS even in low pricing environment
- LU7 has a counter cyclical strategy – develop project, ready for price recovery
- Closing the Lithium Conversion Gap – growth in resource and end market projects
The Financial Modelling
- Economically viable with excellent pre-tax NPV8% of approximately US$779M
- IRR (pre-tax) of approximately 23.5% and payback of 3.5 years based on;
- Price forecast of US$1,170/t SC6 and US$20,970/t for battery grade Li2CO3
- Operating costs at around US$3,976/tonne; capital cost estimate of US$494 million
- Expected annual revenue of approx US$383 million and EBITDA of around US$147 million
- Project break even at around US$780 /t (SC6) and around US$14,000 per tonne Li2CO3
The Design
- LU7 offers a solution to worldwide lithium conversion failures and startup problems
- Using proven Jiangsu Refinery operating technology and lithium industry experience
- Producing up to 18,270 tonnes/year of green battery- grade lithium carbonate
- Smaller off-the-shelf style plant rather than large difficult-to-operate facilities
- Initial focus on lithium carbonate production – feed for LFP batteries
- Assumptions based on real operating data and experience – not new aspirant
The Location
- Québec ideal trans-Atlantic lithium conversion centre, comparable to China
- Feedstock from Canada, Brazil and Africa – end market North America
- Critical cost benefits – cheap green power, transport mine/end market savings, US/Canada tariffs
- 95% GHG emission reduction with Hydro Québec’s green energy
Next Steps
- Offtake discussions with interested OEMs underway
- LU7 continues to progress full Definitive Feasibility Study
LU7 forms Committee with W8BANAKI
- Formation of committee with W8banaki to progress Bécancour Lithium Refinery
- Collaboration with W8banaki to assist with site impact assessment
- W8banaki Nation traditional land custodians of Bécancour Industrial Park
- W8banaki representatives hold significant understanding of battery supply chain
- W8banaki hold years of experience collaborating with chemicals industry
- LU7 committed to a collaborative and respectful relationship
LU7 finalises FRA and OTC Listing
- Lithium Universe quoted on the German-based
- FRA
- Lithium Universe quoted on US-based OTC
- Providing access to trading for US, Canadian
- and European investors
- Expansion to broaden investor base into diverse markets
Click here for the full ASX Release
This article includes content from Lithium Universe, 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.
Exploration Update
Octava Minerals Limited (ASX:OCT) (“Octava” or the “Company”), a Western Australia focused explorer of the new energy metals REE’s, antimony, gold & nickel, is pleased to provide an exploration update on its Western Australian exploration projects.
Highlights
- Mobilisation of crews for detailed geophysical survey over the identified 10km antimony corridor at Yallalong.
- Heritage clearance confirmed over two priority antimony drill targets, Discovery and Central, in preparation for drilling to commence.
- Drilling to focus on extending the existing high-grade antimony mineralisation along strike and at depth over the Discovery target.
- Heritage surveys over next 2 priority antimony targets planned for early December.
- Drill site preparation underway at the large Byro REE & Li project in readiness for metallurgical core drilling to commence mid-November.
Yallalong Antimony
The Yallalong project is located ~ 220km to the northeast of the port town of Geraldton in Western Australia and comprises two granted Exploration Licences, E70/5051 (100% owned) with an exploration area of 63.4km2 and E09/2823 (100% owned) with an exploration area of 94km2.
The antimony (Sb) mineralisation identified at Yallalong appears to occur within a 10km north- south striking mineralised corridor that is interpreted to be related to a structural corridor between the Darling and Woodrarung faults. (Refer ASX announcement 17 September 2024)
Octava will begin detailed gravity and seismic surveys over the identified antimony corridor at Yallalong. Teams will mobilise on ground in the coming days. The geophysical surveys will provide details on the key structures such as shears & faults which act as conduits to mineralising fluids. It will also provide better understanding of the key lithological boundaries.
Figures 1 Outcrop at the Discovery Prospect, Yallalong Project
POW applications covering the 4 priority antimony targets have been approved. These approvals cover the exploration and planned drilling of the antimony targets at the Yallalong Project.
The two priority targets, Discovery and Central, have confirmed heritage clearance, clearing the path for drilling to commence. Heritage surveys covering the No.4 and North targets are expected to be completed by early December in preparation for drilling early in the new year.
The drilling at the Discovery target will focus on extending the previously intersected high-grade antimony mineralisation, both along strike and at depth, with the aim of outlining an antimony resource. Drilling at the Central target will test anomalous antimony at surface, as no drilling has been carried out previously.
Byro
The Byro Project is located on the Byro Plains of the Gascoyne Region, Western Australia, 220 km south-east of Carnarvon and 650 km north of Perth. The Byro project is prospective for rare earths (REE’s), lithium and base metals. (Refer ASX announcement 24 January 2024)
Previous GSWA regional soil sampling and RC drilling has recorded wide areas and large intercepts of anomalous REE, Li & other elements including V and Zn. Previous work identifies an area of mineralisation occurring over more than 30km in strike length and 15km in width. See Figure 2.
Click here for the full ASX Release
This article includes content from Octava 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.
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