Additional lithium sources found at Ravensthorpe
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While LIT continues apace with its mining projects, it informed the market today that it has withdrawn from its Memorandum of Understanding with European Metal Holdings (ASX:EMH), after both parties’ failed to reach satisfactory commercial terms.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.