More cobalt – copper – lithium hits for LIT on Eichigt Project in Germany

|

Published 07-JUN-2018 15:14 P.M.

|

3 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

Lithium Australia NL (ASX:LIT) has released details of follow-up exploration work at its Eichigt polymetallic project in Saxony, Germany.

The company announced the verification of significant cobalt-copper-lithium mineralisation.

Mineralisation on the surface was confirmed by rock chip assays, which show up to 1.47% Co and 0.54% Cu. A highlight is the elevated lithium results in this round of exploration – critically, within weathered material – and grades of up to 0.71% Li2O.

Additional veins were also encountered. All remain open along strike and dip.

The table below shows the results of the 16 second round field grab samples:

Locations were surveyed with hand-held GPS and are in UTM zone 33N.

Locations were surveyed with hand-held GPS and are in UTM zone 33N.

The historic sample pits (below) are in orange and the targets highlighted with ellipses:

These early results for cobalt and copper confirm polymetallic mineralisation within the project area. Deleterious elements, including arsenic and uranium are very low in concentration.

Of course the stock remains speculative at this stage, so investors should seek professional financial advice if considering LIT for their portfolio.

The cobalt occurs in association with iron- and manganese- as part of a polymetallic gossan formed at surface above an extensive vein system. The oxides are enriched in lithium. This style of mineralisation has not been previously described in the region.

LIT uses disruptive extraction processes to convert all lithium silicates to lithium chemicals, from which advanced components can be created for the battery industry.

It was granted the 133km2 Eichigt exploration licence in January this year, in addition to its Sadisdorf project, which is also in Saxony.

Mining in Eichigt stopped in the 17th century, and there has been little modern exploration undertaken since. LIT’s initial sampling program focused on testing mineralisation of iron and copper-bearing quartz veins that were subject to small-scale mining activities during the 16th century. The area is known to host a buried granite cupola, prospective for volatile metals and lithium-bearing greisens.

LIT is working to establish a central processing hub in Europe to support battery production for the rapidly expanding electric car industry. It plans to use its 100% owned SiLeach® process to recover lithium from its German projects, should doing so prove economically feasible.

The company’s managing director, Adrian Griffin, said: “The results of the first exploration campaign at Eichigt strongly supports our view that the license area we applied for was neglected during systematic exploration work carried out during the time of the GDR.

“The combination of cobalt, lithium and copper is an indication of the genesis of the mineralized system and the strong possibility of finding source granites and greisen style mineralization we see nearby at Sadisdorf.

“The historic diggings indicate the strike extent, albeit remaining open. The down-dip extensions will be evaluated after delineation of the extent of surface mineralization.”



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