• CATL could be considering Mexico for its next battery plant
  • Golden State Mining has kicked off drilling at its Yule project in WA
  • Metals Australia has flagged thick pegmatites at its Manindi project

 

All your ASX lithium news for Tuesday, July 19

 

The world’s biggest electric vehicle (EV) battery maker CATL is looking at two locations in Mexico for a manufacturing plant to supply Tesla and Ford.

According to Bloomberg, the Chinese battery giant is considering Ciudad Juarez, in the state of Chihuahua, and Saltillo, in Coahuila – both near the Texas border.

Ciudad Juarez could be a goer, since its close to a port of entry into New Mexico and it would be relatively easy to reach Tesla’s Gigafactory in Austin from there.

The company is also reportedly looking at an investment of as much $5 billion in the project and is even considering a split between two countries, with one battery factory in Mexico and one in the US.

 

Here’s how ASX lithium stocks were tracking today:

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A total of 42 stocks were in the green today, 57 were flat and 32 were red.

 

Who’s got news out today?

 

GOLDEN STATE MINING (ASX:GSM)

Drilling has kicked off across GSM’s Yule Project in the Western Australia’s Pilbara region targeting lithium and gold targets.

The 1,500m 10-hole program will test a shallow sand-covered, complex greenstone-granitoid structural setting and coincident, elevated to anomalous LCT pathfinder and gold air-core (AC) intersections recorded in 2021 reconnaissance drilling

GSM’s managing director Michael Moore says investors can look forward to targeted field exploration over the second half of 2022 as it progresses activity on a number of self-generated projects.

 

METALS AUSTRALIA (ASX:MLS)

Diamond drillhole has intersected thick, lithium bearing pegmatite to >120m depth within an over 2km corridor of lithium intersections at the company’s Manindi project in WA.

Plus, the final set of reverse circulation (RC) drilling results include: 13m at 1.03% Li2O, 0.27% Rb from 62m (downhole).

“The Manindi Lithium Project continues to grow in scope and we now have the opportunity to carry out mineralogy and metallurgical testwork prior to further drilling and maiden mineral resource estimation,” chairman Mike Scivolo said.

 

ZENITH MINERALS (ASX:ZNC)

Zenith has recommenced drilling at its Split Rocks JV project with EV Metals Group in WA – which is along strike from the Wesfarmers (ASX:WES) and SQM Mt Holland lithium deposit under construction.

A program of 45 initial RC holes are underway to follow-up on the thick, high-grade lithium mineralisation intersected in the maiden drill program at the Rio pegmatite prospect that returned results including 20m at 1.0% Li2O, including 10m at 1.7% Li2O.

Executive chairman David Ledger reckons the drilling will enhance the company’s understanding of “the potential for Split Rocks to be material in our lithium exploration endeavours.”

 

GREEN TECHNOLOGY METALS (ASX:GT1)

The company says the second year of baseline environmental studies have started at its Seymour project in Canada, and that no endangered or threatened species have been identified to date.

Environmental monitoring and study activities are set to continue through the remainder of CY2022.

 

GSM, MLS, ZNC and GT1 share prices today: