Eye on Lithium: Flynn Gold flies on Mt Dove action; TG Metals likes Mondays
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Lithium roundup, Monday November 20.
What’s surging right now in ASX lithium land? (Circa 3pm-ish of a Monday afternoon…)
TG Metals (ASX:TG6) +25%
Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop. (Note: figures accurate per ASX at 3pm.)
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This promising $10.7m capped junior explorer is hunting for the yellow gold in Tassie and in WA but it’s also one of many digging for lithium up in the Pilbara.
On a monthly timeframe, it’s been trending up about 30% on various narratives, including it’s high-grade gold hits on the Apple Isle, but today’s news is Li-based.
Results have come in from FG1’s in-fill soil sampling program at its 100% owned Mt Dove lithium-gold project in the Pilbara, Western Australia.
• The confirmation of seven high priority lithium anomalies and enhanced byin-fill soil sampling.
• Coherent lithium anomalies extending up to 3,100m in length within predominantly shallow sand-covered eastern part of licence area.
• Outcropping pegmatite samples, with high rubidium (max 0.14%Rb) identified within the highest priority lithium anomaly.
The Mt Dove project is situated near Pilbara Minerals’ (ASX:PLS) Pilgangoora lithium mine, and Mineral Resources’ (ASX:MIN) Wodgina lithium mine, as well as the De Grey Mining (ASX:DEG) Hemi gold deposit.
Not to mention Wildcat Resources’ (ASX:WC8) Tabba Tabba and Morella’s (below) Tabba Tabba East operations.
Seven high priority #lithium anomalies have been confirmed by soil sampling at our Mt Dove Project, in the Pilbara region. Planning is underway for design and permitting of a first pass aircore #drilling program.
$FG1 #pegmatites pic.twitter.com/m0nwNfqYx9
— Flynn Gold (@FlynnGoldLtd) November 19, 2023
FG1 share price
Morella Corporation, a $40m-capped explorer is searching for the white gold (lithium, that is) out near Wildcat Resources’ (ASX:WC8) head-turning, highly prospective, MinRes-attracting Tabba Tabba lithium-tantalum project in the Pilbara, WA.
Morella today announced ‘highly encouraging’ assay results from a soil-sampling program at the Tabba Tabba East prospect some 58km southeast of Port Hedland and 4km south of the WC8 site.
The Tabba Tabba East prospect forms part of a broader WA joint venture portfolio between Morella and lithium producer Sayona Mining (ASX:SYA).
The company highlights there is ‘notable presence of prospective lithium-bearing pegmatite targets, with 974 soil samples taken across the most prospective areas of the tenement package.
Initial drilling program is now planned to further develop established lithium targets, with additional sampling planned.
1MC share price
Rio Tinto is the rare mining giant that loves lithium, but it’s been on the sidelines in the local scene’s major M&A actions so far.
But… as Josh writes in today’s Ground Breakers, it has piled cash into exploring ground held by juniors. Rio has pegged ground near TG Metals (ASX:TG6) ’ Burmeister discovery and inked a $42.5 million farm-in deal with adjoining junior Charger Metals.
The farm-n deal will fund exploration at the Lake Johnston project, where Charger separately purchased the remaining 30% rights in tenements shared with Lithium Australia (ASX:LIT) in a $2m side deal.
Rio’s exploration arm will pay Charger $500,000 and put another $1.2m into the company before the farm in starts and spend $3m over 12 months.
Read Ground Breakers for full details, full insights.
CHR share price
TG6 share price
LIT share price
Torque Metals (ASX:TOR) has found spodumene in RC drill chips at its New Dawn lithium project in WA.
Future Battery Minerals (ASX:FBM) has appointed former Fortescue Metals Group (ASX:FMG) boss Neville Power as non-executive director to drive the company’s lithium development plans in WA and Nevada, USA.
Catching our eye today on the platform formerly known as Twitter…
ExxonMobil announced it will drill its first lithium well in Arkansas, targeting production in 2027. It aims to be a key supplier for EV manufacturing.
This comes at a time when automakers are scaling back EV plans amid signs of slower demand, causing lithium prices to drop. pic.twitter.com/vwsY4unwiM
— Yahoo Finance (@YahooFinance) November 19, 2023
— Gassin123Charts (@MrBreakouts) November 19, 2023
Following news that Oil Giant Exxon Mobile is entering Lithium space there is a massive growth potential for the Lithium Industry. Optimistic for upside in Junior mining for 2024.https://t.co/Qggel9IYbT pic.twitter.com/BMhPy8ODHE
— Battery Commodity (@ArneLutsch) November 17, 2023
— Joe Lowry (@globallithium) November 17, 2023
Nickel, copper, lithium and silver are crucial for the energy transition
Countries are focused on domestic supply
Gold is crucial to preserve a nations sovereignty in its reserves
Countries are stockpiling
The periodic table should be on the desk of every serious investor… pic.twitter.com/gNBAsdwxmC
— Gold Telegraph ⚡ (@GoldTelegraph_) November 19, 2023
At Stockhead we tell it like it is. While Charger Metals, Future Battery Minerals, Golden State Mining, Tambourah Metals, First Lithium, Fin Resources and Torque Metals are Stockhead advertisers at the time of writing, they did not sponsor this article.