• Tesla opens German Giga factory in Berlin, expects to churn out 500k cars pa
  • BOA tests a lithium anomaly at the Bald Hill project in WA
  • Galan finds pathfinder elements at Greenbushes South JV

 

All your ASX lithium news for Thursday, March 24.

Tesla boss man Elon Musk was so happy about the opening of the company’s first manufacturing facility in Europe that he couldn’t stop dancing.

Musk personally handed over the first 30 Model Y cars from the plant, which is expected to churn out 500,000 electric vehicles a year.

The $5.5 billion Gigafactory means the company can build its market share in Europe, while cutting costs for shipping and import – with the company even been shipping cars from China to Europe in recent quarters.

It’s a big milestone for Tesla, which now has Gigafactories on three continents.

 

Here’s how ASX lithium stocks are tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

A total of 46 stocks were in the green today, with 28 flatlining and 28 in the red.

 

Who’s got news out today?

BOADICEA RESOURCES (ASX:BOA)

BOA has completed a 346-sample augur drilling program testing a lithium anomaly at ‘Bald Hill East’, ~2km from the mothballed ‘Bald Hill’ mine and processing plant near Kambalda in WA.

Assays are pending, it says. If all goes to plan, the next phase of exploration will include deeper drilling.

“The completion of the first phase of exploration activity at the Bald Hill East lithium program paves the way for more advanced exploration with drill testing of potential lithium targets,” BOA managing director Jon Reynolds says.

“The interpreted along strike extension of the Bald Hill Mine provides Boadicea the most advanced exploration opportunity for a potential commercial lithium discovery.”

A March 2019 presentation from the previous mine owners at Bald Hill included the statement “the resource possibly extends to the south-east and west”.

The $17.5m market cap stock is flat year-to-date. It had $4.5m in the bank at the end of December.

Boadicea Resources (ASX:BOA) share price today 

 

GALAN LITHIUM (ASX:GLN)

The $496m market cap company has completed its first exploration sampling and mapping work at the Greenbushes South Lithium joint venture between Galan and Lithium Australia (ASX:LIT).

And Galan says that pathfinder element concentrations from soil samples and rock chips indicate prospective targets near the trace of the mineralising Donnybrook-Bridgetown Shear Zone – which is associated with lithium-bearing pegmatites of the Greenbushes mine to the north.

“We are excited with the prospectivity at our Greenbushes South Lithium project and are encouraged with the new soil sample results that continue to indicate that the tracing elements that are found within the Donnybrook sheer zone may well host lithium pegmatites the same as in the Greenbushes mine bordering to the north of our tenements,” MD JP Vargas de la Vega said.

“Galan looks forward to further strengthening its geological data and knowledge within its tenements as soon as the report from our consultants is completed. The results will formulate our next exploration phase when we will be able to generate and prioritise specific exploration targets in the area”.

Galan Lithium (ASX:GLN) share price today 

 

AURUMIN (ASX:AUN)

The explorer has defined lithium potential at the historical ‘Mt Palmer ‘project in WA, which has a history of high-grade gold production.

MD Brad Valiukas said pegmatites are well known in the area and they cut-off some of the gold lodes at the historical Mt Palmer mine.

“As exploration work for 2022 has a more regional focus we have been considering other commodities,” he said.

“The recent identification of flatter lying pegmatites in the south of our tenements, analogous to those of Mt Holland, is a result of continuing to build our dataset from pre-digital records and shows the value of this work.”

“We are pleased to add this extra dimension to Mt Palmer for 2022 and the program is prospective for both gold and lithium.”

An infill soil sampling program is currently in progress and the company plans to undertake a reconnaissance drilling program asap once its secured approvals.

The company has a market cap of $23.4m and had $3.99m cash at the end of December.

Aurumin (ASX:AUN) share price today 

 

WINSOME RESOURCES (ASX:WR1)

The $64.5m market cap explorer has kicked off detailed ground gravity surveying at its flagship Cancet property in the James Bay region of Quebec, Canada, with the aim of sussing out possible extensions of the mineralised pegmatites at depth.

It also aims to validate the applicability of the gravity technique as an exploration tool for lithium-bearing pegmatites across the company’s concessions in northern Quebec.

Basically, this method measures spatial variations in the Earth’s gravity field caused by contrasts in rock density.

The intrusion of a mineralised pegmatite swarm into elongated gabbroic sills – which are more magnetic than the surrounding rocks – is anticipated to be expressed as a detectable gravity response.

“The gravity surveying technique will provide an effective screening tool to prioritise sills which are more likely to host pegmatites for future drill testing,” MD Chris Evans said.

He also said the technique has the “potential to deliver new undercover targets while reducing its environmental impact.”

Winsome Resources (ASX:WR1) share price today 

 

ARCADIA MINERALS (ASX:AM7)

Earlier this month the $20m market cap company flagged “encouraging” assay results from its Bitterwasser project in Namibia, Africa, and now it says preliminary leachint test work indicates that one organic acid is able to extract up to 78% lithium from the clays.

The company says not only is this method environmentally friendly, its also relatively cheap to produce and use, compared to inorganic acids such as sulphuric and hydrochloric acid.

A full-scale test work program is underway and CO Philip le Roux said this – combined with the potential of producing a lithium rich leachate from concentrates, – “holds the promise of confirming processing matrices with competitive capex and opex responses for any future analyses of economic and technical assessment, which Arcadia could undertake towards confirming the project viability.”

Arcadia Minerals (ASX:AM7) share price today