• Essential Metals says lithium production could kick off in 2025 at Pioneer Dome 
  • Green Technology Metals begins 2,500m diamond drilling program at Roots Project
  • Resource Mining prepares initial field exploration program across Finnish lithium and nickel projects

All your lithium news Monday, September 5. 

 

Essential Metals (ASX:ESS), a  favourite of Argonaut’s David Franklyn, is targeting lithium production at the Pioneer Dome Lithium Project in 2025 and has appointed leading engineer firm Primero to begin a scoping study which will determine the initial scale of the operation.

Upcoming catalysts include a resource update in November as the company works towards progressing discussions with various off-take and project partners.

Spanning some 450km2, the Pioneer Dome Project sits in the heart of Western Australia’s lithium corridor in the Eastern Goldfields, around 130km south of Kalgoorlie.

The world-class Greenbushes Deposit, the Mt Holland Mine and the Mt Cattlin Mine are further west, south-west, and south-south-west, respectively.

ESS says the scoping study — the first proper look at the economics of building a project — will begin using a mining inventory of roughly 7.5Mt at an average grade of at 1.2% Li2O and will be adjusted following completion of an update to the Dome North Lithium resource.

It is anticipated that the plant throughput will be about 1.2Mtpa, for an initial mine life of just over six years.

At this stage, it is anticipated the scoping study will be completed by the end of December.

 

Here’s how ASX lithium stocks are tracking today:

CODE COMPANY PRICE % TODAY % WEEK % MONTH MARKET CAP
IMI Infinitymining 0.185 -8% -5% 42% $11,500,000
AAJ Aruma Resources Ltd 0.065 -7% -10% 16% $10,987,305
BYH Bryah Resources Ltd 0.027 -7% 0% -7% $8,098,351
LIT Lithium Australia 0.07 -7% -16% -1% $77,655,699
MMG Monger Gold Ltd 0.36 -6% -9% 50% $15,415,400
TUL Tulla Resources 0.46 -5% -13% -18% $77,705,183
JRL Jindalee Resources 2.51 -5% -4% 0% $150,906,681
FG1 Flynngold 0.095 -4% -10% -3% $6,342,044
EMS Eastern Metals 0.12 -4% -14% -14% $4,832,031
MXR Maximus Resources 0.05 -4% 9% -2% $16,583,100
GSM Golden State Mining 0.054 -4% -14% 4% $6,552,795
DRE Dreadnought Resources Ltd 0.135 -4% 23% 99% $425,744,697
EUR European Lithium Ltd 0.082 -4% -6% 5% $119,020,330
LPD Lepidico Ltd 0.028 -3% 0% -3% $188,708,546
GLN Galan Lithium Ltd 1.18 -3% -6% 4% $371,575,255
ASN Anson Resources Ltd 0.3 -3% 15% 150% $318,702,041
TYX Tyranna Res Ltd 0.033 -3% 3% 10% $79,470,263
G88 Golden Mile Res Ltd 0.034 -3% -3% 26% $7,130,641
TKM Trek Metals Ltd 0.071 -3% -18% 18% $22,674,541
CRR Critical Resources 0.042 -2% -9% -7% $63,984,655
PNN Power Minerals Ltd 0.48 -2% -8% 7% $30,165,954
PSC Prospect Res Ltd 0.097 -2% -3% -28% $45,763,687
ARN Aldoro Resources 0.245 -2% 0% 17% $24,896,829
MRR Minrex Resources Ltd 0.049 -2% -13% -2% $53,824,485
MLS Metals Australia 0.05 -2% -12% -11% $30,958,846
QXR Qx Resources Limited 0.028 -2% -10% 0% $24,491,826
EFE Eastern Resources 0.0295 -2% -5% 18% $30,201,921
OCN Oceanalithiumlimited 0.6 -2% -14% 36% $20,450,250
KTA Krakatoa Resources 0.061 -2% -3% 24% $21,372,015
WES Wesfarmers Limited 46.605 0% -3% -2% $52,961,677,704
ADV Ardiden Ltd 0.008 0% 14% 0% $21,346,683
1MC Morella Corporation 0.025 0% 0% 47% $144,141,145
AML Aeon Metals Ltd. 0.028 0% -7% 0% $30,616,062
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% $2,752,409,203
RLC Reedy Lagoon Corp. 0.016 0% 7% 23% $8,918,831
TKL Traka Resources 0.007 0% 0% 17% $4,821,422
TON Triton Min Ltd 0.028 0% 4% 4% $35,245,957
BMM Balkanminingandmin 0.185 0% -5% -16% $6,058,750
PAM Pan Asia Metals 0.43 0% -10% 21% $31,785,704
AX8 Accelerate Resources 0.038 0% -3% 3% $10,277,438
AM7 Arcadia Minerals 0.26 0% -7% 79% $12,141,452
AS2 Askarimetalslimited 0.32 0% -14% 8% $14,422,166
MMC Mitremining 0.13 0% 0% 13% $3,521,063
SHH Shree Minerals Ltd 0.008 0% -11% -11% $9,907,895
TEM Tempest Minerals 0.039 0% 0% 0% $19,685,881
LRS Latin Resources Ltd 0.11 0% -4% 55% $214,555,277
WR1 Winsome Resources 0.265 0% 0% 47% $35,805,208
MTM Mtmongerresources 0.14 0% -3% 40% $5,251,405
SCN Scorpion Minerals 0.079 0% -11% 18% $26,214,664
AZI Altamin Limited 0.095 0% 7% 0% $37,213,091
ENT Enterprise Metals 0.009 0% -18% -25% $5,876,826
AVW Avira Resources Ltd 0.004 0% 0% 14% $8,475,160
BNR Bulletin Res Ltd 0.14 0% -3% 33% $40,962,754
RMX Red Mount Min Ltd 0.007 0% 0% 8% $11,496,547
A8G Australasian Metals 0.26 0% -12% 8% $10,704,328
LSR Lodestar Minerals 0.007 0% 0% 0% $12,169,061
NWM Norwest Minerals 0.063 0% 3% 58% $11,378,265
AOA Ausmon Resorces 0.009 0% 13% 80% $7,715,604
VKA Viking Mines Ltd 0.008 0% 0% 14% $8,202,067
IPT Impact Minerals 0.008 0% 0% 14% $19,850,964
ZNC Zenith Minerals Ltd 0.3 0% -2% -9% $103,428,684
RAS Ragusa Minerals Ltd 0.215 0% -28% 191% $27,658,475
EVR Ev Resources Ltd 0.028 0% -10% 0% $25,927,554
THR Thor Mining PLC 0.01 0% 0% 0% $10,755,644
CZL Cons Zinc Ltd 0.023 0% 0% 10% $8,909,230
MM1 Midasmineralsltd 0.205 0% -13% 14% $11,712,012
AOU Auroch Minerals Ltd 0.067 0% -1% 5% $24,864,491
LRD Lordresourceslimited 0.195 0% 3% -7% $6,490,501
WMC Wiluna Mining Corp 0.205 0% 0% 0% $74,238,031
ALY Alchemy Resource Ltd 0.021 0% 0% 50% $20,014,555
GW1 Greenwing Resources 0.28 0% 6% 27% $34,509,258
DAF Discovery Alaska Ltd 0.075 0% -15% 74% $16,817,602
FTL Firetail Resources 0.26 0% -7% 11% $16,063,450
DAL Dalaroometalsltd 0.1 0% 0% -9% $2,987,500
MIN Mineral Resources. 59.3 1% -9% 12% $11,119,730,420
IGO IGO Limited 12.72 1% -2% 18% $9,534,001,766
LEL Lithenergy 0.96 1% -4% 1% $42,892,500
AKE Allkem Limited 13.34 1% -4% 20% $8,417,086,735
RIO Rio Tinto Limited 91.18 1% -8% -6% $33,479,990,341
NVA Nova Minerals Ltd 0.91 1% 4% 5% $162,182,057
GL1 Globallith 1.715 1% -1% 23% $268,993,544
PLL Piedmont Lithium Inc 0.845 1% -7% 35% $440,521,618
AZL Arizona Lithium Ltd 0.083 1% -6% 15% $197,613,896
MQR Marquee Resource Ltd 0.073 1% -8% 7% $22,724,466
VUL Vulcan Energy 7.595 2% -5% 6% $1,072,148,051
LNR Lanthanein Resources 0.061 2% 27% 281% $57,769,534
RDT Red Dirt Metals Ltd 0.6 2% -2% 48% $179,687,111
PGD Peregrine Gold 0.745 2% -2% 77% $28,363,540
LPI Lithium Pwr Int Ltd 0.585 2% -4% 17% $200,758,288
QPM Queensland Pacific 0.1425 2% -5% -2% $218,905,838
CAI Calidus Resources 0.57 2% -10% -20% $245,157,755
SYA Sayona Mining Ltd 0.26 2% -7% 44% $2,116,189,714
KZR Kalamazoo Resources 0.23 2% 2% 5% $32,668,734
STM Sunstone Metals Ltd 0.046 2% 5% 0% $116,840,089
LKE Lake Resources 1.085 2% -8% 35% $1,473,372,132
INR Ioneer Ltd 0.635 2% -3% 20% $1,300,843,127
IR1 Irismetals 1.135 3% 9% 184% $67,261,350
PLS Pilbara Min Ltd 3.65 3% 3% 33% $10,583,994,626
INF Infinity Lithium 0.18 3% 13% 33% $72,627,287
GT1 Greentechnology 0.69 3% -5% 13% $126,350,036
NMT Neometals Ltd 1.355 3% -7% 22% $726,335,658
LLL Leolithiumlimited 0.5525 3% 0% 21% $527,861,448
CY5 Cygnus Gold Limited 0.31 3% 5% 43% $44,155,595
LTR Liontown Resources 1.675 3% -3% 26% $3,558,225,267
KAI Kairos Minerals Ltd 0.029 4% 0% 7% $54,994,618
WC8 Wildcat Resources 0.027 4% 0% 17% $16,777,091
CXO Core Lithium 1.335 4% -4% 19% $2,232,296,032
ZEO Zeotech Limited 0.052 4% -5% -20% $78,095,774
MNS Magnis Energy Tech 0.5 4% 6% 59% $465,759,112
CHR Charger Metals 0.49 4% -2% -4% $15,313,086
LRV Larvottoresources 0.235 4% -2% 9% $9,344,813
SRI Sipa Resources Ltd 0.047 4% 9% 18% $9,226,116
M2R Miramar 0.115 5% -15% 10% $7,060,533
ESS Essential Metals Ltd 0.445 5% 1% -1% $105,180,035
DTM Dart Mining NL 0.11 5% 26% 47% $14,202,317
XTC Xantippe Res Ltd 0.0095 6% -5% 19% $73,131,612
RAG Ragnar Metals Ltd 0.036 6% -20% -14% $12,892,286
RGL Riversgold 0.036 6% -8% 33% $26,356,458
EMH European Metals Hldg 0.76 6% 3% 9% $85,613,009
SRZ Stellar Resources 0.016 7% 7% 0% $14,477,964
LIS Lisenergylimited 0.57 8% 0% -19% $87,934,519
EPM Eclipse Metals 0.024 9% 4% 20% $42,264,781
VMC Venus Metals Cor Ltd 0.175 9% 6% 0% $25,612,589
KGD Kula Gold Limited 0.022 10% 0% -18% $4,303,513
TMB Tambourahmetals 0.155 11% -3% -11% $5,766,964
AGY Argosy Minerals Ltd 0.405 13% 5% 11% $491,707,349
FRS Forrestaniaresources 0.17 13% -8% 6% $5,004,196
WML Woomera Mining Ltd 0.017 13% 13% 13% $10,302,496
TSC Twenty Seven Co. Ltd 0.002 14% 14% -5% $4,656,424
WCN White Cliff Min Ltd 0.024 14% 26% 100% $13,725,671
AUN Aurumin 0.135 17% 17% -4% $14,410,321
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57 lithium stocks finished in the green, 45 fell flat and 29 ended in the red zone.

 

Who has got news out?

GREEN TECHNOLOGY METALS (ASX:GT1)

Drilling has kicked off across GT1’s flagship Root Project in Ontario, Canada, in a 22-hole for 2,500m diamond drilling program.

The program is designed to confirm historical drilling and sampling results as well as extend known mineralisation, followed by an estimation of a maiden mineral resource estimate.

“We then plan to target other known spodumene-bearing LCT pegmatites at Root, including Morrison and Root Bay,” CEO Luke Cox says.

The McCombe LCT pegmatite is the most advanced prospect at Root. Historical drilling by ASX listed Ardiden in 2016 intersected numerous pegmatites, generally dipping to the south and striking east-west and returned results up to 67m at 1.75% lithium oxide.

 

RESOURCE MINING CORPORATION (ASX:RMI)

An initial report has been prepared and is under review by the board regarding the acquistion of three ‘Target Projects’ which include its Ruossakero Nickel Project in Northern Finland, the Kola Lithium Project in Central Finland and the Hirvikallio Lithium Project in Southern Finland.

These ‘Target Projects’ areas are currently covered by two -year exploration reservations, valid till May 2024, and held by Element92 – the target acquisition vehicle.

Resource Mining wants to conduct field exploration guided by the results of the Skapto Report, which will be solely funded by the company.

The findings from the Skapto Report and broader due diligence data review have confirmed the extensive presence of lithium and nickel targets within each tenement.

 

ASKARI METALS (ASX:AS2)

Battery metals explorer, AS2, has accepted the resignation of non-executive directors Brendan Cummins and David Greenwood, effective September 1 as it works to streamline the corporate and administration components of the business.

The company is undertaking a strategic review, an important step as it seeks to maximise exploration success in the battery metals sector and will investigate opportunities to commercialise and monetise other assets in its portfolio.

AS2 says this will fast track exploration and development of the Pilbara Lithium Projects, comprising Yarrie and Myrnas Hill, the Barrow Creek Lithium Project, the Horry Copper Project and the Callawa Copper Project.

The explorer is also evaluating several advanced lithium projects which may provide the opportunity to begin exploration and resource delineation drilling in the near term.

AS2 executive-director Gino D’Anna says the reduction of the board size allows the company to remain agile and maximise the funds available for exploration.

 

FORRESTANIA RESOURCES (ASX:FRS) 

FRS has identified a new “high priority” lithium target within a large, untested area east of the Gem Pegmatite mine at its flagship Forrestania Project.

New results show a previously un-assayed diamond hole GCDD000 is anomalous for lithium and pathfinder elements, suggesting a possible relationship with pegmatite intersections from historical RAB drilling at the nearby Gem Pegmatite mine.

The Gem Pegmatite target is part of the broader Gemcutter prospect which is centrally located within the Forrestania Project.

FRS CEO Angus Thomson says this is an exciting development and reinforces the potential in the area.

A Program of Works has been approved and planning for an initial drill program within the December quarter is underway.

 

WHITE CLIFF MINERALS (ASX:WCN)

WCN has received binding commitments to raise $1.7m, fast tracking lithium and rare earth elements (REEs) exploration across the company’s Yinnetharra, Hines Hill and Diemals projects.

WCN technical director Ed Mead says the company is pleased with the strong support for the placement and believes it has an excellent portfolio of projects.

“This funding will allow us to quickly move to an aggressive exploration program on a number of fronts,” he says.

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