• Even with every project online we could still be facing a 2 million mt deficit by 2030, S&P says
  • Critical Resources finds 40.9m of spodumene-bearing pegmatite at Mavis Lake
  • MinRex finds visible spodumene at the Sisters project in WA

 All your ASX lithium news for Tuesday, August 2.

 

S&P Global says that even if every lithium project around the world was to come online by 2030 there is still going to be a 220,000t gap minimum in demand in 2030.

In fact, they said it could be as a high as a 2 million tonne gap.

While hard-rock assets will keep accounting for most of the lithium output in the future, all production routes, even those which have never operated at a commercial scale (we’re looking at you direct lithium extraction, clay-based and geothermal lithium) will be necessary to mitigate the increasing supply deficit.

This is because it could take almost a decade for a mining project to reach capacity – after its already spent the best part of a decade getting up and running.

“Within the product base, there will be limited integrated hydroxide capacity, meaning converters will keep playing an essential role into the future,” S&P said.

 

 

Here’s how ASX lithium stocks were tracking today:

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

 

Only 25 stocks were in the green, 41 were flat and 65 were red.

 

Who has news out today?

CRITICAL RESOURCES (ASX:CRR)

CRR has intersected multiple pegmatite dykes totalling 40.9m in step out hole MF22-116 at its Mavis Lake project in Canada.

“To intercept 40-plus meters of lithium-bearing pegmatites in one hole 80m east of any known occurrences in a previously untested area at Mavis Lake is extremely encouraging,” chairman Robert Martin said.

“The company’s drilling program continues to intersect mineralised pegmatite and show the pegmatites remain open at depth and along a potential strike length of approximately 3km between our Pegmatite 6 and Pegmatite 18 prospects.”

The plan is to continue infill drilling, followed by testing the approximate 3km of potential strike length towards Pegmatite 18.

 

MINREX RESOURCES (ASX:MRR)

The first pass ground geological mapping and rock chip sampling program over the recently granted Sisters Lithium Project in WA has identified extensive lithium-tantalum- tin rich pegmatites on the ground.

“Extensive untested soil geochemical anomalies further support for potential of buried pegmatites leaching anomalous lithium values over areas spanning over 3.2km in length by 480m in width over the central portion of E45/5871,” MD George Karageorge says.

He also said the unexpected high-grade lithium-tantalum-tin pegmatites further confirms the high prospectivity of the area to potentially delineate lithium resources close to the nearby Archer Lithium Deposit owned by Global Lithium (ASX:GL1).

MinRex plans to kick off the maiden RC drillhole program to test the extensive stacked pegmatites by the end of August 2022.

 

CRR and MRR share prices today:

 

At Stockhead we tell it like it is. While MinRex Resources is a Stockhead advertiser, it did not sponsor this article.