• TSX listed Frontier finds high grade zones up to a whopping 3.12% Li2O in Canada
  • Infinity to deploy ambient noise tomography to 3D map Tambourah South project
  • Venus kicks off RC drilling at new Manindi North lithium target

 All your ASX lithium news for Thursday, February 16.

 

TSX listed Frontier Lithium has pulled up one of the most remarkable lithium intersections to date at its flagship PAK lithium project — 398.25m  averaging 1.88% Li2O, including a 23.4m zone of 3.12% Li2O.

For context, grades between 1-1.5% are considered pretty darn good, and then you get anomalies like Greenbushes in WA which boasts a whopping 2% Li2O. The thickness, meanwhile, is insane.

Drill hole DDH PL-099-2 was also a winner and included 6m from 430.0 to 436m averaging 3.25% Li2O.

“These two holes, which are 140m apart, have confirmed that the new northwest zone discovered in February 2022 is connected to the main zone and contains significant high-grade zones of 2 to 3% Li2O,” VP exploration Garth Drever said.

“This zone will certainly be explored during the 2023 drill program at Spark.”

The CAD$640m capped project developer says 41.9Mt and growing PAK  “contains one of North America’s highest-grade, large-tonnage hard-rock lithium resources in the form of a rare low-iron spodumene”.

Its ASX neighbour, recently listed Patriot Lithium (ASX:PAT), has a 506km2 greenfields  exploration project called Gorman along strike.

 

Here’s how ASX lithium stocks were tracking today:

Wordpress Table Plugin

A total of 57 stocks were in the green, 44 were flat and 36 were red.

 

Who has news out today? 

INFINITY MINING (ASX:IMI)

Infinity is gearing up to deploy Fleet Space’s satellite-based ExoSphere passive seismic exploration system at their Tambourah South tenement in WA.

The ExoSphere uses Ambient Noise Tomography (ANT) technology where Lightweight ANT geodes are placed in the ground and the seismic data is transmitted via ExoSphere satellite to Fleet’s office – allowing 3D mapping down to several hundred metres where LCT rich pegmatites identified at surface have grown at depth. 

The company says the 3D model should show if the pegmatites are thickening up and/or merging with other pegmatites plus identify concealed flat lying pegmatites that don’t have surface expressions and provide certainty for future drilling campaigns. 

“The ANT technique is relatively easy to deploy, data is recovered in real time and requires no ongoing field work once in place,” IMI CEO Joe Groot said.

“If the technique proves useful at Tambourah South, Infinity could also deploy it at selected other tenements where cover and topography are hindering surface exploration and drill targeting.” 

 

VENUS METALS (ASX:VMC)

Venus has kicked off RC drilling at the new Mandini North lithium target at its Youanmi project, to test recently identified lithium (Li) soil and rock chip anomalies for pegmatite-hosted lithium-caesium-tantalum (LCT) mineralization in the bedrock. 

Three east-northeast trending Li anomalies in the northern part of E57/983 were delineated by a geochemical soil survey at a historical beryl occurrence and rock chip samples from sub-cropping pegmatite nearby have up to 2.11% Li2O. 

The drilling will also test the interpreted down-dip extension of Li-bearing pegmatite at the Central Prospect. 

 

LEO LITHIUM ASX(:LLL)

The company has poured first concrete at the primary crushing area of its Goulamina project JV with Ganfeng Lithium Group in Mali, Africa.

“Achieving first concrete pour at Goulamina ticks off an important construction milestone, de-risks the Project further and enables us to ramp up plant and equipment installation activities on site considerably,” LLL MD Simon Hay said.

“The timing could not have been better in this regard, with fabrication of the ball mill and other key crushing and magnetic separation equipment completed or near complete and due to be transported to site shortly. 

“Pleasingly, we have already made strong progress on construction to date at Goulamina, with development firmly remaining on budget and commissioning on schedule for first spodumene concentrate at the end of the first half of 2024.” 

 

LATIN RESOURCES (ASX:LRS)

Latin has extended the high-grade zone at the Colina West deposit in Brazil to over 500m along strike – and is confident the deposit will become a major contributor to the Salina lithium resource upgrade scheduled for the second quarter.

Results from recent drilling include 20.70m at 1.51% Li2O from 159.00m (SADD061) and 10.00m at 1.13% Li2O from 149.51m (SADD062).

Seven diamond drilling rigs currently on site and one additional diamond drilling rig due in late February/early March with 2023 drilling campaign well on track, the company says.

 

BOADICEA RESOURCES (ASX:BOA)

The company has entered a one-month exclusivity agreement to complete due diligence with the option to acquire the Two Tanks project.

Notably, the project is in highly prospective Mt Ida pegmatite corridor, which includes Red Dirt Metals’s (ASX:RDT) Mt Ida project and St George Mining’s (ASX:SGQ) Mt Alexander project.

Prospective lithium bearing pegmatites have identified within the tenement, which the company says would complement its growing lithium portfolio.

“We aim to fast track the due diligence on Two Tanks,” MD Jon Reynolds said.

 

VMC, IMI, LLL, LRS and BOA share prices today:

 

 

 

WESTAR RESOURCES (ASX:WSR)

Westar’s recent reconnaissance field programs at the Mindoolah project in WA has flagged the presence of fractionated pegmatite systems and the potential for Li mineralisation over 4km and remain open along strike. 

The company says soil sampling supports the interpretation of buried pegmatites further highlighting the potential in the area. 

The plan is for further targeted mapping and sampling to define priority target areas ahead of a maiden RC drilling program. 

 

LOYAL LITHIUM (ASX:LLI)

Drilling is scheduled to kick off at the company’s Scotty project in Nevada, USA, in March, will all approvals secured and a drilling contractor engaged.

The program will target lithium bearing sediments at the Scotty Target 2, where soils show a lithium-boron anomalous assay results to a maximum of 448ppm Lithium and 3,360ppm Boron.

“We are excited about the targeted drilling program at our Scotty Lithium Project and encouraged by our neighbours’ recent exceptional drill results – just 1km from our lease boundary,” CEO Adam Ritchie said. 

“The excitement and potential of Nevada lithium continues to build, and we continue to monitor the progress of our surrounding peers, with respect to approvals, testwork, flowsheet design and partnerships.” 

 

QX RESOURCES (ASX:QXR)

A ~1,500m RC Drilling has recommenced at the company’s Turner River project, in WA, aimed at extending the areas of known mineralisation over an increased strike length.

Pegmatites and potential lithium rich micas were intersected in the maiden drilling, based on visual observations, which achieved the aim of the maiden drill program.

Assay results from the first phase drill program are anticipated in late-February, with the second program results expected in April 2023.

 

CASSIUS MINING (ASX:CMD)

Cassius has reported rock sample assays up to 1.08% Li2O at Dulu-1 (Prospecting License 11921) at its Chenene project in Tanzania.

But that’s not all, Dulu-2 pegmatite samples returned up to a massive 5.49% Li2O.

“The LCT mineralised rock-chip samples at Dulu in our Chenene Lithium Project has opened up a new chapter for the company, with the exciting potential of not only the two Dulu pegmatites extending sub-surface further along strike in both directions to the WNW and ESE, but also of more parallel mineralised pegmatites being identified in the immediate area,” chairman James Arkoudis said.

“We are really looking forward to the next exploratory phase at the now prioritised Dulu area, where we expect to build on these positive results in the near future.” 

 

WSR, LLI, QXR and CMD share prices today:

 

 

 

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

Read MoreLithiumLithium NewsLithium Stocks

Featured Companies

You might be interested in