Additional lithium sources found at Ravensthorpe

|

Published 01-APR-2016 16:04 P.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Follow up fieldwork conducted by Lithium Australia (ASX:LIT) at its Ravensthorpe Lithium Project has uncovered several additional lithium pegmatites, including two spodumene pegmatites.

Lithium Australia has now established that there are at least 12 lithium pegmatites present, which significantly increases its economic potential.

Within the Ravensthorpe project lies the Cocanarup Lithium Pegmatites, located just a few kilometres kilometres to the south-west of the Mt Cattlin Lithium mine which is operated by mining giants Galaxy Resources Limited (ASX:GXY) and General Mining Corporation (ASX:GMN).

The project is clear to vital infrastructure, including well established transport routes.

The fieldwork also identified two spodumene pegmatites (LCT-complex, spodumene sub class) at its Deep Purple Prospect.

Along with these two spodumene pegmatites, at least three lepidolite pegmatites exist at the Deep Purple prospect. These pegmatites have a shallow dip towards the west and appear to be stacked as a pegmatite dyke-swarm which is a compelling drilling target.

For the next phase of exploration, a programme of additional mapping and rock-chip sampling accompanied by stream-sediment sampling is planned for LIT’s Phillips South Prospect, meanwhile soil sampling will take place at Deep Purple.

Results of the soil sampling will assist in the optimisation of the drill programme to be conducted at Deep Purple.

“It is not surprising that we are finding abundant lithium pegmatites in the Ravensthorpe area,” said Lithium Australia Managing Director Adrian Griffin.

“It has been long-known for its spodumene which is the focus of the nearby Cattlin mining operations. We see the area as an important part of our thrust to develop a local lithium chemical industry. With the application of our 100% owned SileachTM process, we have the ability to handle both lepidolite and spodumene to produce lithium carbonate or hydroxide – critical inputs to the insatiable lithium battery industry.”

While LIT continues apace with its mining projects, it informed the market today that it has withdrawn from its Memorandum of Understanding with European Metal Holdings (ASX:EMH), after both parties’ failed to reach satisfactory commercial terms.

tags

LITHIUM


General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X