India's first lithium resource has been received with much cheer from its local social media scene. Pic: via Getty Images
Mining
All your ASX lithium news, Feburary 10.
India has been crowing about the discovery of a native source of lithium in the Salal-Haimana area of Reasi District of Jammu and Kashmir.
The Geological Survey of India noted that it had established Inferred Resources of 5.9 million tonnes prompting social media to explode with plenty of congratulatory back slapping – and some rather dubious claims.
5.9 million tonnes in J&K is unbelievable !! …We in India can have 2nd best Lithium reserves after Chile @NITIAayog @paramiyer_ @Junaid_Mattu @listenshahid pic.twitter.com/kaWoxhDM3A
— G Force 🇮🇳 (@gau_dab) February 9, 2023
Such claims aside, it is not entirely clear what the GSI meant with its Inferred Resource estimate, but assuming it means lithium carbonate equivalent, this is barely equivalent to a single (admittedly large) project.
The giant Greenbushes mine in Western Australia for instance was last estimated to have total resources of 360.2Mt at 1.5% Li2O, which works out to about 13.36Mt LCE.
Likewise, Mineral Resources’ Wodgina has Indicated and Inferred Resources of 259.2Mt at 1.17% Li2O, or just under 7.5Mt LCE.
What is clear though is that the global push to find and exploit new sources of lithium that will reduce reliance on China is still underway and more than likely accelerating.
India’s discovery in Jammu and Kashmir – despite spotty details – is likely to spur further exploration and possibly development.
It is unlikely that India would be truly self-sufficient but even the ability to supply part of its demand from local sources will play a role in ensuring some level of energy security.
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| CZL | Cons Zinc Ltd | 0.022 | 29% | $8,200,083 |
| THR | Thor Energy PLC | 0.006 | 20% | $7,378,064 |
| XTC | Xantippe Res Ltd | 0.006 | 20% | $51,725,174 |
| MM1 | Midasmineralsltd | 0.195 | 11% | $9,998,059 |
| WCN | White Cliff Min Ltd | 0.013 | 8% | $9,408,653 |
| LRS | Latin Resources Ltd | 0.13 | 8% | $264,198,590 |
| GW1 | Greenwing Resources | 0.3 | 7% | $41,512,482 |
| LLO | Lion One Metals Ltd | 0.98 | 7% | $10,847,226 |
| ALY | Alchemy Resource Ltd | 0.017 | 6% | $18,849,220 |
| NMT | Neometals Ltd | 0.8625 | 5% | $453,247,764 |
| QPM | Queensland Pacific | 0.11 | 5% | $183,366,532 |
| VSR | Voltaic Strategic | 0.023 | 5% | $6,760,605 |
| KGD | Kula Gold Limited | 0.024 | 4% | $8,307,874 |
| KAI | Kairos Minerals Ltd | 0.024 | 4% | $45,174,150 |
| RAS | Ragusa Minerals Ltd | 0.12 | 4% | $16,398,860 |
| OCN | Oceanalithiumlimited | 0.365 | 4% | $12,744,900 |
| AML | Aeon Metals Ltd. | 0.026 | 4% | $27,410,016 |
| INF | Infinity Lithium | 0.13 | 4% | $57,824,012 |
| RGL | Riversgold | 0.026 | 4% | $23,636,693 |
| AX8 | Accelerate Resources | 0.027 | 4% | $9,817,646 |
| LPD | Lepidico Ltd | 0.0155 | 3% | $114,566,576 |
| MQR | Marquee Resource Ltd | 0.032 | 3% | $10,143,433 |
| SYA | Sayona Mining Ltd | 0.2425 | 3% | $2,042,061,727 |
| NWM | Norwest Minerals | 0.066 | 3% | $14,214,873 |
| AS2 | Askarimetalslimited | 0.67 | 3% | $32,100,594 |
| ZEO | Zeotech Limited | 0.04 | 3% | $63,987,521 |
| MNS | Magnis Energy Tech | 0.425 | 2% | $402,687,565 |
| IMI | Infinitymining | 0.215 | 2% | $16,060,447 |
| STM | Sunstone Metals Ltd | 0.0305 | 2% | $78,613,393 |
| TUL | Tulla Resources | 0.35 | 1% | $73,432,716 |
| AZL | Arizona Lithium Ltd | 0.071 | 1% | $170,975,325 |
| GL1 | Globallith | 2.17 | 1% | $456,190,768 |
| EUR | European Lithium Ltd | 0.075 | 1% | $107,243,699 |
| PAT | Patriot Lithium | 0.42 | 1% | $25,164,563 |
| GT1 | Greentechnology | 0.845 | 1% | $159,266,558 |
| ESS | Essential Metals Ltd | 0.505 | 1% | $133,783,347 |
| CXO | Core Lithium | 1.05 | 1% | $1,924,187,750 |
| PLS | Pilbara Min Ltd | 4.815 | 1% | $14,330,294,162 |
| TKM | Trek Metals Ltd | 0.0705 | 1% | $25,476,156 |
| WR1 | Winsome Resources | 2.07 | 0% | $299,279,925 |
| ADV | Ardiden Ltd | 0.0075 | 0% | $20,162,515 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| MLS | Metals Australia | 0.055 | 0% | $33,386,991 |
| PSC | Prospect Res Ltd | 0.17 | 0% | $78,584,109 |
| RLC | Reedy Lagoon Corp. | 0.009 | 0% | $5,100,476 |
| TKL | Traka Resources | 0.008 | 0% | $5,782,196 |
| BMM | Balkanminingandmin | 0.44 | 0% | $19,699,686 |
| LEL | Lithenergy | 0.9 | 0% | $54,135,000 |
| ARN | Aldoro Resources | 0.23 | 0% | $25,969,833 |
| CHR | Charger Metals | 0.4 | 0% | $17,485,747 |
| AAJ | Aruma Resources Ltd | 0.074 | 0% | $11,615,151 |
| AM7 | Arcadia Minerals | 0.23 | 0% | $10,740,515 |
| BYH | Bryah Resources Ltd | 0.024 | 0% | $6,750,083 |
| DTM | Dart Mining NL | 0.046 | 0% | $7,158,546 |
| EMS | Eastern Metals | 0.079 | 0% | $3,086,089 |
| FG1 | Flynngold | 0.097 | 0% | $9,978,733 |
| FRS | Forrestaniaresources | 0.145 | 0% | $8,829,239 |
| GSM | Golden State Mining | 0.044 | 0% | $5,148,625 |
| MMC | Mitremining | 0.295 | 0% | $10,615,605 |
| RAG | Ragnar Metals Ltd | 0.016 | 0% | $6,066,958 |
| CTN | Catalina Resources | 0.011 | 0% | $13,623,356 |
| TMB | Tambourahmetals | 0.105 | 0% | $4,325,223 |
| TEM | Tempest Minerals | 0.025 | 0% | $12,619,154 |
| EMC | Everest Metals Corp | 0.09 | 0% | $9,578,980 |
| WML | Woomera Mining Ltd | 0.016 | 0% | $15,298,579 |
| PNN | Power Minerals Ltd | 0.505 | 0% | $36,484,151 |
| MTM | Mtmongerresources | 0.079 | 0% | $4,504,913 |
| AZI | Altamin Limited | 0.075 | 0% | $29,378,756 |
| ENT | Enterprise Metals | 0.009 | 0% | $6,345,726 |
| PGD | Peregrine Gold | 0.5 | 0% | $19,381,445 |
| NVA | Nova Minerals Ltd | 0.625 | 0% | $131,283,832 |
| RMX | Red Mount Min Ltd | 0.006 | 0% | $11,930,093 |
| MRR | Minrex Resources Ltd | 0.035 | 0% | $37,970,363 |
| A8G | Australasian Metals | 0.19 | 0% | $7,822,394 |
| EFE | Eastern Resources | 0.018 | 0% | $22,355,036 |
| AOA | Ausmon Resorces | 0.0055 | 0% | $4,852,591 |
| IPT | Impact Minerals | 0.01 | 0% | $24,813,706 |
| VMC | Venus Metals Cor Ltd | 0.135 | 0% | $24,040,622 |
| ZNC | Zenith Minerals Ltd | 0.225 | 0% | $79,133,860 |
| G88 | Golden Mile Res Ltd | 0.022 | 0% | $4,500,975 |
| EPM | Eclipse Metals | 0.021 | 0% | $42,589,256 |
| EVR | Ev Resources Ltd | 0.02 | 0% | $18,719,681 |
| WC8 | Wildcat Resources | 0.03 | 0% | $19,860,682 |
| M2R | Miramar | 0.079 | 0% | $5,583,858 |
| AOU | Auroch Minerals Ltd | 0.063 | 0% | $26,954,243 |
| LLI | Loyal Lithium Ltd | 0.44 | 0% | $23,095,600 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| TYX | Tyranna Res Ltd | 0.025 | 0% | $60,135,633 |
| DAF | Discovery Alaska Ltd | 0.028 | 0% | $6,278,572 |
| IR1 | Irismetals | 1.16 | 0% | $74,506,800 |
| DAL | Dalaroometalsltd | 0.089 | 0% | $2,658,875 |
| LLL | Leolithiumlimited | 0.61 | 0% | $601,860,716 |
| CMD | Cassius Mining Ltd | 0.037 | 0% | $15,114,237 |
| SGQ | St George Min Ltd | 0.079 | 0% | $66,153,458 |
| WES | Wesfarmers Limited | 49.32 | 0% | $56,007,886,068 |
| AKE | Allkem Limited | 12.76 | 0% | $8,149,270,339 |
| LTR | Liontown Resources | 1.45 | 0% | $3,196,267,908 |
| IGO | IGO Limited | 14.58 | 0% | $11,086,400,782 |
| RIO | Rio Tinto Limited | 123.07 | -1% | $45,975,128,104 |
| LIS | Lisenergylimited | 0.3575 | -1% | $59,729,107 |
| A11 | Atlantic Lithium | 0.675 | -1% | $411,904,329 |
| PLL | Piedmont Lithium Inc | 0.9675 | -1% | $412,873,500 |
| QXR | Qx Resources Limited | 0.047 | -1% | $42,600,960 |
| RDT | Red Dirt Metals Ltd | 0.445 | -1% | $200,208,371 |
| ASN | Anson Resources Ltd | 0.2175 | -1% | $259,216,083 |
| LPI | Lithium Pwr Int Ltd | 0.415 | -1% | $264,220,975 |
| MIN | Mineral Resources. | 89.86 | -1% | $17,285,657,460 |
| PAM | Pan Asia Metals | 0.355 | -1% | $52,868,012 |
| GLN | Galan Lithium Ltd | 1.19 | -2% | $371,367,640 |
| CRR | Critical Resources | 0.057 | -2% | $92,239,292 |
| INR | Ioneer Ltd | 0.4025 | -2% | $860,318,689 |
| LKE | Lake Resources | 0.735 | -2% | $1,064,958,527 |
| JRL | Jindalee Resources | 2.4 | -2% | $140,578,467 |
| LIT | Lithium Australia | 0.046 | -2% | $57,396,009 |
| KTA | Krakatoa Resources | 0.043 | -2% | $15,167,236 |
| TON | Triton Min Ltd | 0.042 | -2% | $59,459,720 |
| SCN | Scorpion Minerals | 0.078 | -3% | $27,656,495 |
| MXR | Maximus Resources | 0.039 | -3% | $12,762,231 |
| LRD | Lordresourceslimited | 0.17 | -3% | $5,826,121 |
| VUL | Vulcan Energy | 7.14 | -3% | $1,057,118,168 |
| CY5 | Cygnus Gold Limited | 0.465 | -3% | $88,259,622 |
| AUN | Aurumin | 0.061 | -3% | $11,229,181 |
| SRI | Sipa Resources Ltd | 0.03 | -3% | $7,072,902 |
| AGY | Argosy Minerals Ltd | 0.7425 | -4% | $1,081,393,773 |
| 1MC | Morella Corporation | 0.0135 | -4% | $85,380,126 |
| EMH | European Metals Hldg | 0.67 | -4% | $87,568,201 |
| BNR | Bulletin Res Ltd | 0.125 | -4% | $38,166,843 |
| DRE | Dreadnought Resources Ltd | 0.0955 | -5% | $329,372,822 |
| LRV | Larvottoresources | 0.175 | -5% | $12,442,124 |
| FTL | Firetail Resources | 0.13 | -7% | $9,100,000 |
| SRZ | Stellar Resources | 0.012 | -8% | $13,060,202 |
| LNR | Lanthanein Resources | 0.024 | -8% | $25,520,965 |
| CAI | Calidus Resources | 0.23 | -8% | $109,838,881 |
| VKA | Viking Mines Ltd | 0.011 | -8% | $12,303,101 |
| KZR | Kalamazoo Resources | 0.185 | -10% | $30,507,972 |
| LSR | Lodestar Minerals | 0.004 | -11% | $7,822,968 |
| AVW | Avira Resources Ltd | 0.002 | -20% | $5,334,475 |
Recent mapping and surface sampling at the company’s Marble Bar project has discovered outcropping spodumene-bearing pegmatite dykes with several rock chips assaying more than 1% lithium oxide (Li2O) with a top hit of 2.8% Li2O recorded over a strike length of more than 1.1km.
Visible spodumene was observed in all the highest grade samples.
Drilling at the project has also intersected lepidolite mineralised pegmatite dykes in three prospects with assays returning a top result of 1m at 0.6% Li2O from a down-hole depth of 4m.
Planning is currently underway for the 2023 field exploration program, which includes a significant Phase 2 drilling program and further evaluation of the spodumene-bearing dykes.
Riversgold has lodged the Program of Works for maiden drilling at its Earl Grey prospect just 1.5km east of the Mt Holland lithium mine.
This program, which will begin immediately on receipt of approvals, will test for possible strike and depth extensions of the third-party owned Earl Grey deposit.
The company plans to drill 2,000m worth of reverse circulation holes with the option of diamond tails.
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