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Eye on Lithium: Core Lithium uses earth scanning tech to detect pegmatites at Finniss project
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- Fleet Space says its ExoSphere earth scanning tech is a quicker, cheaper and cleaner mineral exploration option
- Ragusa Minerals reports promising desk top review and rock chip sampling at NT project
- Morella picks up another lithium project in Nevada, USA
All your ASX lithium news for Thursday, August 11
Fleet Space Technologies has successfully trialled its ExoSphere earth scanning technology at Core Lithium’s (ASX:CXO) Finniss project in the NT.
The tech now been proven to be able to detect pegmatite bodies – indicating lithium deposits – up to depths of 500m+ and has unveiled several previously unknown targets.
Fleet co-founder Matt Pearson said the tech could revolutionise mineral exploration and play a role in answering the global challenge to find more than US$13 trillion in critical metals the International Monetary Fund (IMF) says is required to meet soaring global demand.
“We created ExoSphere to provide a sustainable, faster and more economically viable alternative to current exploration practices,” he said.
“This work is vital to enabling the dramatic increase in critical mineral discoveries required to support the global transition to clean-air mobility and more sustainable industrial practices.”
Quicker, cheaper and cleaner exploration option
ExoSphere essentially delivers detailed subsurface 3D mapping using an array of geodes – portable and lightweight satellite-enabled geophones that can be transported and placed by hand.
The geodes use edge computing to analyse ambient seismic noise which is sent by Fleet’s network of small satellites for processing – a process known as Ambient Noise Tomography (ANT).
The data is rapidly processed in the cloud to deliver a 3D visualisation of the area to support critical exploration decisions, making searching for key energy transition minerals faster, more sustainable, less expensive, and more accurate.
“The success of this trial shows the potential of the technology to deliver our next generation of exploration targets and we are excited by the prospect of doing further work with Exosphere,” Core exploration manager Andy Bennett said.
Here’s how ASX lithium stocks were tracking today:
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| Code | Company | Price | % Month | % Week | % Today | Market Cap |
|---|---|---|---|---|---|---|
| RAS | Ragusa Minerals Ltd | 0.155 | 89% | 112% | 55% | $12,573,615.60 |
| 1MC | Morella Corporation | 0.028 | 40% | 65% | 40% | $112,524,279.72 |
| SHH | Shree Minerals Ltd | 0.01 | 25% | 25% | 25% | $9,907,895.14 |
| TMB | Tambourahmetals | 0.2 | 43% | 18% | 25% | $6,590,815.68 |
| MM1 | Midasmineralsltd | 0.285 | 46% | 43% | 24% | $13,140,305.72 |
| BNR | Bulletin Res Ltd | 0.16 | 39% | 52% | 23% | $38,036,843.00 |
| ADV | Ardiden Ltd | 0.0095 | 36% | 19% | 19% | $21,346,682.85 |
| EMS | Eastern Metals | 0.165 | 10% | 14% | 18% | $5,411,875.00 |
| AVW | Avira Resources Ltd | 0.0035 | 17% | 0% | 17% | $6,356,370.00 |
| LKE | Lake Resources | 1.535 | 113% | 72% | 16% | $1,834,451,395.92 |
| RGL | Riversgold | 0.04 | 33% | 38% | 14% | $26,473,159.97 |
| LRS | Latin Resources Ltd | 0.105 | 44% | 40% | 14% | $179,016,736.83 |
| TKM | Trek Metals Ltd | 0.074 | 32% | 23% | 14% | $20,189,659.75 |
| CZL | Cons Zinc Ltd | 0.025 | 25% | 9% | 14% | $8,521,871.89 |
| ALY | Alchemy Resource Ltd | 0.017 | 6% | 13% | 13% | $14,296,110.86 |
| MRR | Minrex Resources Ltd | 0.063 | 75% | 9% | 13% | $59,368,229.82 |
| LSR | Lodestar Minerals | 0.009 | 29% | 29% | 13% | $13,907,498.78 |
| AZL | Arizona Lithium Ltd | 0.1 | 11% | 33% | 11% | $216,443,300.49 |
| WC8 | Wildcat Resources | 0.03 | 20% | 30% | 11% | $17,422,363.63 |
| RDT | Red Dirt Metals Ltd | 0.465 | 21% | 16% | 11% | $127,912,858.92 |
| LRV | Larvottoresources | 0.265 | 18% | 33% | 10% | $9,967,800.00 |
| SYA | Sayona Mining Ltd | 0.2925 | 95% | 50% | 10% | $2,198,896,432.03 |
| AML | Aeon Metals Ltd. | 0.032 | 10% | 14% | 10% | $31,709,492.42 |
| MLS | Metals Australia | 0.068 | 31% | 21% | 10% | $35,218,243.84 |
| KTA | Krakatoa Resources | 0.059 | 11% | 20% | 9% | $18,614,335.52 |
| LPI | Lithium Pwr Int Ltd | 0.655 | 44% | 21% | 9% | $209,486,908.80 |
| PAM | Pan Asia Metals | 0.48 | 19% | 39% | 9% | $32,524,906.48 |
| VUL | Vulcan Energy | 9.64 | 68% | 28% | 8% | $1,274,250,825.89 |
| ESS | Essential Metals Ltd | 0.545 | 43% | 15% | 8% | $124,645,650.35 |
| EMH | European Metals Hldg | 0.84 | 22% | 23% | 8% | $93,367,666.08 |
| RMX | Red Mount Min Ltd | 0.007 | 40% | 17% | 8% | $10,675,365.08 |
| MNS | Magnis Energy Tech | 0.37 | 19% | 16% | 7% | $334,764,361.64 |
| JRL | Jindalee Resources | 2.82 | -3% | 14% | 7% | $150,906,680.58 |
| AM7 | Arcadia Minerals | 0.15 | 0% | 0% | 7% | $6,537,704.88 |
| LNR | Lanthanein Resources | 0.031 | 94% | 77% | 7% | $24,296,941.53 |
| AUN | Aurumin | 0.16 | 39% | 7% | 7% | $16,383,487.80 |
| PLL | Piedmont Lithium Inc | 0.7625 | 39% | 14% | 7% | $377,213,122.00 |
| PNN | Power Minerals Ltd | 0.58 | 40% | 20% | 6% | $33,526,691.43 |
| RLC | Reedy Lagoon Corp. | 0.017 | -15% | 31% | 6% | $8,918,830.59 |
| MQR | Marquee Resource Ltd | 0.089 | 24% | 25% | 6% | $26,511,876.72 |
| WML | Woomera Mining Ltd | 0.018 | 0% | 13% | 6% | $11,676,162.12 |
| GT1 | Greentechnology | 0.735 | 31% | 16% | 6% | $128,067,401.89 |
| GLN | Galan Lithium Ltd | 1.395 | 33% | 15% | 6% | $401,977,014.12 |
| ARN | Aldoro Resources | 0.29 | 76% | 38% | 5% | $27,386,512.18 |
| QXR | Qx Resources Limited | 0.039 | 26% | 39% | 5% | $31,796,405.88 |
| PGD | Peregrine Gold | 0.8 | 90% | 90% | 5% | $29,098,108.60 |
| MMG | Monger Gold Ltd | 0.3 | 40% | 30% | 5% | $11,411,400.00 |
| TYX | Tyranna Res Ltd | 0.04 | 100% | 43% | 5% | $58,229,705.35 |
| CXO | Core Lithium | 1.52 | 60% | 30% | 5% | $2,504,768,924.50 |
| MXR | Maximus Resources | 0.061 | 30% | 13% | 5% | $18,438,534.54 |
| ZEO | Zeotech Limited | 0.061 | 30% | -2% | 5% | $88,445,097.26 |
| LTR | Liontown Resources | 1.8075 | 77% | 33% | 5% | $3,770,627,340.56 |
| OCN | Oceanalithiumlimited | 0.52 | 44% | 16% | 5% | $16,594,875.00 |
| PLS | Pilbara Min Ltd | 3.13 | 33% | 12% | 5% | $8,871,008,184.32 |
| SCN | Scorpion Minerals | 0.066 | -7% | 3% | 5% | $20,905,365.10 |
| STM | Sunstone Metals Ltd | 0.046 | 0% | 2% | 5% | $114,243,642.44 |
| EPM | Eclipse Metals | 0.023 | 15% | 0% | 5% | $42,264,781.09 |
| AOU | Auroch Minerals Ltd | 0.071 | 3% | 16% | 4% | $25,139,722.33 |
| LEL | Lithenergy | 1.1 | 47% | 13% | 4% | $47,633,250.00 |
| FTL | Firetail Resources | 0.25 | 6% | 6% | 4% | $14,827,800.00 |
| NMT | Neometals Ltd | 1.41 | 36% | 19% | 4% | $748,429,518.34 |
| LLL | Leolithiumlimited | 0.515 | 8% | 12% | 4% | $488,395,171.44 |
| IR1 | Irismetals | 0.535 | 98% | 37% | 4% | $30,706,875.00 |
| TON | Triton Min Ltd | 0.028 | 65% | 8% | 4% | $33,987,172.78 |
| IMI | Infinitymining | 0.14 | 0% | 17% | 4% | $7,762,500.00 |
| AGY | Argosy Minerals Ltd | 0.435 | 28% | 14% | 4% | $573,329,066.52 |
| BYH | Bryah Resources Ltd | 0.029 | -9% | 0% | 4% | $6,333,800.90 |
| LPD | Lepidico Ltd | 0.03 | 11% | 3% | 3% | $188,707,974.46 |
| QPM | Queensland Pacific | 0.15 | 15% | 3% | 3% | $226,723,904.00 |
| INF | Infinity Lithium | 0.155 | 41% | 11% | 3% | $62,251,959.90 |
| EFE | Eastern Resources | 0.034 | 13% | 31% | 3% | $32,943,871.32 |
| GL1 | Globallith | 1.89 | 58% | 25% | 3% | $291,211,299.76 |
| LIS | Lisenergylimited | 0.73 | 33% | 2% | 3% | $117,799,072.77 |
| IGO | IGO Limited | 12.105 | 21% | 9% | 3% | $8,935,760,193.40 |
| NWM | Norwest Minerals | 0.04 | 29% | -11% | 3% | $7,043,688.09 |
| CY5 | Cygnus Gold Limited | 0.2 | 25% | -11% | 3% | $28,701,136.43 |
| INR | Ioneer Ltd | 0.7 | 52% | 21% | 2% | $1,437,221,842.06 |
| RAG | Ragnar Metals Ltd | 0.047 | 15% | 12% | 2% | $17,442,504.89 |
| AKE | Allkem Limited | 12.34 | 18% | 10% | 2% | $7,715,662,840.60 |
| MIN | Mineral Resources. | 59.825 | 28% | 9% | 2% | $11,123,518,439.53 |
| WR1 | Winsome Resources | 0.275 | 38% | 49% | 2% | $36,480,778.38 |
| WES | Wesfarmers Limited | 47.71 | 7% | 1% | 1% | $53,335,844,983.68 |
| AAJ | Aruma Resources Ltd | 0.08 | 23% | 38% | 1% | $12,399,958.74 |
| AS2 | Askarimetalslimited | 0.4 | 60% | 31% | 1% | $17,802,361.65 |
| NVA | Nova Minerals Ltd | 0.82 | 11% | -8% | 1% | $145,963,850.85 |
| LIT | Lithium Australia | 0.083 | 19% | 19% | 1% | $84,903,564.65 |
| EUR | European Lithium Ltd | 0.091 | 47% | 11% | 1% | $126,021,525.75 |
| TUL | Tulla Resources | 0.51 | -7% | -7% | 1% | $80,909,520.36 |
| ASN | Anson Resources Ltd | 0.15 | 36% | 20% | 0% | $154,186,850.25 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | 0% | 0% | $2,752,409,203.44 |
| TKL | Traka Resources | 0.007 | 17% | 17% | 0% | $4,821,421.93 |
| BMM | Balkanminingandmin | 0.2 | 14% | 0% | 0% | $6,550,000.00 |
| DTM | Dart Mining NL | 0.065 | 0% | -12% | 0% | $8,791,910.40 |
| FG1 | Flynngold | 0.088 | -32% | -12% | 0% | $5,637,372.40 |
| MMC | Mitremining | 0.115 | -4% | 0% | 0% | $3,114,786.50 |
| TSC | Twenty Seven Co. Ltd | 0.003 | 0% | 0% | 0% | $7,982,441.72 |
| WCN | White Cliff Min Ltd | 0.013 | -13% | 18% | 0% | $8,496,843.71 |
| CRR | Critical Resources | 0.054 | 32% | 20% | 0% | $80,352,822.91 |
| KGD | Kula Gold Limited | 0.027 | -2% | -6% | 0% | $5,809,742.06 |
| MTM | Mtmongerresources | 0.12 | 0% | 14% | 0% | $4,501,203.96 |
| CAI | Calidus Resources | 0.765 | 21% | 7% | 0% | $311,990,682.87 |
| SRZ | Stellar Resources | 0.016 | -11% | -3% | 0% | $13,428,842.02 |
| VKA | Viking Mines Ltd | 0.007 | 0% | 0% | 0% | $7,176,809.02 |
| IPT | Impact Minerals | 0.008 | 0% | 14% | 0% | $19,850,964.45 |
| SRI | Sipa Resources Ltd | 0.044 | 10% | 10% | 0% | $9,021,091.33 |
| VMC | Venus Metals Cor Ltd | 0.175 | 3% | -8% | 0% | $28,013,769.53 |
| ZNC | Zenith Minerals Ltd | 0.295 | 18% | 2% | 0% | $101,704,872.31 |
| G88 | Golden Mile Res Ltd | 0.031 | 3% | 15% | 0% | $6,315,711.03 |
| EVR | Ev Resources Ltd | 0.032 | 0% | 14% | 0% | $29,631,490.27 |
| M2R | Miramar | 0.1 | 0% | -5% | 0% | $6,418,666.30 |
| XTC | Xantippe Res Ltd | 0.011 | 22% | 38% | 0% | $88,616,992.34 |
| WMC | Wiluna Mining Corp | 0.205 | -7% | 0% | 0% | $74,238,030.68 |
| DAF | Discovery Alaska Ltd | 0.048 | 9% | 12% | 0% | $10,763,265.50 |
| DAL | Dalaroometalsltd | 0.099 | -10% | -10% | 0% | $2,957,625.00 |
| GSM | Golden State Mining | 0.05 | 22% | -6% | -1% | $5,879,276.61 |
| AZI | Altamin Limited | 0.087 | -8% | 2% | -1% | $34,471,074.18 |
| DRE | Dreadnought Resources Ltd | 0.084 | 83% | 33% | -1% | $258,487,851.84 |
| GW1 | Greenwing Resources | 0.275 | 28% | 28% | -2% | $34,509,257.72 |
| TEM | Tempest Minerals | 0.044 | -12% | 13% | -2% | $22,714,477.92 |
| RIO | Rio Tinto Limited | 95.59 | -2% | -1% | -4% | $36,817,224,104.52 |
| CHR | Charger Metals | 0.53 | 10% | 8% | -4% | $17,919,569.25 |
| PSC | Prospect Res Ltd | 0.125 | 156% | -14% | -4% | $60,093,730.06 |
| AX8 | Accelerate Resources | 0.036 | 20% | -3% | -5% | $10,277,438.16 |
| A8G | Australasian Metals | 0.27 | 26% | 8% | -5% | $11,733,590.79 |
| THR | Thor Mining PLC | 0.009 | -10% | 0% | -5% | $10,217,861.71 |
| KZR | Kalamazoo Resources | 0.26 | 21% | 18% | -5% | $39,928,452.85 |
| KAI | Kairos Minerals Ltd | 0.031 | 41% | 19% | -6% | $64,815,085.20 |
| ENT | Enterprise Metals | 0.011 | 10% | -8% | -8% | $7,835,768.26 |
| FRS | Forrestaniaresources | 0.16 | 7% | 3% | -9% | $5,440,103.20 |
| AOA | Ausmon Resorces | 0.005 | -17% | 0% | -9% | $4,715,091.39 |
| LRD | Lordresourceslimited | 0.235 | 7% | 2% | -10% | $8,264,001.46 |
A whopping 88 stocks were in the green, 26 were flat and 17 were red.
Who has news out today?
The explorer acquired the early stage Northern Territory Lithium Project back in May, which chair Jerko Zuvela said at the time would see the company create a ‘supergroup’ project area comparable to neighbours Core Lithium and Lithium Plus.
Today, initial desktop review works have confirmed high-grade lithium prospectivity across the site with rock chip samples returning 5.46% Li20, 2.27g/t gold, and 4.59g/t gold.
Ragusa has completed planning of its initial drilling program to test the main known outcropping pegmatite bodies.
“The company’s strategic and highly prospective NT Lithium Project, with high grade historical and confirmatory lithium sample results, four granted tenements, approved MMP and upcoming commencement of our maiden drilling program is very exciting and puts Ragusa in a strong position to rapidly accelerate the development of our project within a proven high-quality lithium district,” Zuvela says.
The company has picked up a second Nevada lithium project, reaching an agreement with US-based Lithium Corporation to earn a 60% interest in the North Big Smoky Project (NBS), with options to acquire 100%.
The project is located in Nye County, about 110km to the north of the regional centre of Tonopah and 240km southeast of the major centre of Reno – Tesla’s Nevada Gigafactory is located 37km east of Reno.
The NBS Project area consists of 178 claims covering roughly 1,376ha in a well-known, highly prospective lithium region.
1MC says the project straddles structural features that can be traced on the surface and have been assessed to be a potential conduit for lithium mineralisation in sediments and brines.
LITHIUM PLUS MINERALS (ASX:LPM)
LPM announced its 10,000m drilling program at the flagship ‘Bynroe’ lithium project – focusing on the ‘Lei’ and ‘Cai’ prospects – back in June.
Today, a thick interval of 43m of pegmatite from 191.9m has been intersected, where the initial phase-1 hole was positioned to target down-dip expression of lithium mineralisation around 50m below the discovery RC hole.
“We are pleased with the samples from our maiden diamond hole at the Lei Prospect, which have visibly validated the historical spodumene-bearing pegmatite system at depth and provide us confidence that we may have a significant lithium discovery at Bynoe,” executive chairman Bin Guo says.
The second diamond drill hole at Lei is underway.
AUSTRALIAN SILICA QUARTZ GROUP (ASX:ASQ)
ASQ has acquired exploration ground from a private investor group in the highly prospective Koolyanobbing Greenstone Belt to be renamed ‘Koolyanobbing Metals Project’ (KMP) in WA.
The company believes the project is under-explored and prospective for lithium, gold, nickel, and copper.
ASQ says it was initially attracted to the area for the high purity quartz potential on E77/2684, which will remain a focus for the company at the Lake Seabrook Quartz Project targeting a high-grade feedstock for a processing technology ASQ is researching and developing.
Previous explorers have mapped an extensive swarm of outcropping pegmatites over a strike length of 6.5km within the KMP on a peninsula of land extending into Lake Seabrook adjacent to the Koolyanobbing Shear Zone and within a coherent rubidium soil anomaly.
Phase 1 mapping and sampling at the company’s Yarrie project in WA has generated 11 target areas – of which 5 are considered high priority by the company.
Soil auger and shallow aircore drilling grids have now been designed across the 5 targets.
“We are well positioned to advance exploration at Yarrie and are focussed on expediting the granting of key tenements so that further exploration campaigns can be carried out,” VP geology and exploration Johan Lambrechts said.
RAS, LPM, 1MC, ASQ and AS2 share prices today:
