Does LIT’s acquisition hold an uncanny resemblance to Greenbushes?

Published at Apr 4, 2016, in Mining

Lithium Australia (ASX:LIT) has told shareholders its latest venture into the upstream holds uncanny similarities with the largest hard rock lithium mine in the world.

It has been granted Mineral Exploration License 30897, which is about 60km from Darwin – measuring 60 and hosting at least 20 known pegmatites.

LIT is betting that these pegmatites can be processed using its Sileach process, turning the rock into lithium oxide.

Recent exploration on the license has targeted spodumene, which is a lithium silicate, and lithium micas which rival those at fields such as Pilgangoora in Western Australia.

The latest acquisition is part of a raft of upstream opportunities LIT has focused on in recent times, most recently telling investors that it had found additional lithium resources at its Ravensthorpe project.

The NT project, dubbed the ‘Bynoe Project’, is part of the Litchfield Pegmatite belt – which is almost 200km long but in the past has only been tapped for tin and tantalum.

This is where LIT says the play bears an uncanny resemblance to the Greenbushes play – which hosts the world’s largest hard rock lithium mine in the world.

Mining at Bynoe started towards the back end of the 19th century, which explorers mostly looking for tin and tantalum – only recently has the potential for the pegmatites to hold lithium mineralisation been considered.

This mirrors development at Greenbushes, which was mined for 100 years for tin and tantalum before lithium came into the equation.

Field work is expected to begin during the northern dry season (around May until October), with LIT starting desktop work on the opportunity in the meantime.



S3 Consortium Pty Ltd (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 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.

Publishers Notice

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.

Thanks for subscribing!