• Balkan Mining surges after securing option to buy the Tango Lithium Project
  • Lithium Power says the final completion is in sight for 100% consolidation of the Maricunga Lithium Brine Project
  • Lithium Plus Minerals begins phase-two diamond drilling at the Lei prospect 

All your lithium news, Monday October 31.

 

Today, Balkan Mining and Minerals (ASX:BMM) jumped 16% in early morning trade (before settling in single digits by close) after securing an option to buy the Tango Lithium Project in Canada.

The largely under-explored project consists of 41 claims covering 8.64km in Ontario’s Thunder Bay North mining district, known for the multiple albite-spodumene type pegmatites.

BMM says the acquisition of Tango, 2.3km east of Imagine Lithium’s (TSX-V:ILI) Jackpot project and only 10km southeast of Rock Tech’s (TSX-V:RCK) Georgia Lake Lithium Project – which is targeted for construction in the second half of 2023 – cements the company’s growth strategy into tier-1 lithium mining jurisdictions.

 

Recent geological mapping and sampling identified new pegmatite outcrop on the claims, such as the historical ‘Island’ pegmatite weighing 2.3.2kg at 1.4% Li2O which was interpreted to be taken from a surface trench.

In the past, only three drill holes were carried out on the Island pegmatite in 1957 to a depth of 22.86m, each confirming a presence of albite-spodumene where crystals are described as up to 45cm long.

“This allows us to fast track our planned work programs and hit the ground running on this very exciting project,” BMM managing director Ross Cotton says.

 

Lithium Power moves closer to project consolidation

Meanwhile, Lithium Power International (ASX:LPI) says the final completion is in sight for the 100% consolidation of the Maricunga Lithium Brine Project in Chile following the approval by shareholders at the company’s extraordinary general meeting.

LPI currently holds a 51.55% interest in the project and entered into definitive binding agreements with its joint venture partners (Salar Blanco LLC and Bearing Lithium Corp) to acquire their interests and consolidate 100% ownership of the project via two separate all-scrip merger transactions back in June.

The company anticipates the completion of the SBD transaction and the consolidation transaction as a whole will occur on or around November 21.

 

Here’s how lithium ASX stocks are faring today:

CODE COMPANY PRICE % TODAY MARKET CAP
TSC Twenty Seven Co. Ltd 0.002 33% $7,982,442
IPT Impact Minerals 0.007 17% $14,888,223
RMX Red Mount Min Ltd 0.005 11% $7,390,637
A11 Atlantic Lithium 0.71 11% $387,674,662
BMM Balkanminingandmin 0.3 9% $11,827,958
CZL Cons Zinc Ltd 0.024 9% $10,184,272
GSM Golden State Mining 0.039 8% $4,212,511
DAL Dalaroometalsltd 0.13 8% $3,585,000
KAI Kairos Minerals Ltd 0.032 7% $58,922,805
THR Thor Mining PLC 0.008 7% $8,263,489
LKE Lake Resources 1.0425 6% $1,370,035,228
EMH European Metals Hldg 0.8 5% $90,964,162
VUL Vulcan Energy 7.62 5% $1,039,180,932
QXR Qx Resources Limited 0.063 5% $52,911,739
NWM Norwest Minerals 0.042 5% $8,884,295
EVR Ev Resources Ltd 0.021 5% $18,519,681
KTA Krakatoa Resources 0.064 5% $21,027,305
PLS Pilbara Min Ltd 5.1 5% $14,548,345,240
DTM Dart Mining NL 0.068 5% $10,091,910
CXO Core Lithium 1.3975 4% $2,458,257,739
EMS Eastern Metals 0.125 4% $4,638,750
BNR Bulletin Res Ltd 0.135 4% $38,036,843
AUN Aurumin 0.084 4% $10,149,878
LTR Liontown Resources 1.925 3% $4,085,369,751
VMC Venus Metals Cor Ltd 0.15 3% $23,211,409
AKE Allkem Limited 14.545 3% $8,971,849,270
MMG Monger Gold Ltd 0.46 3% $17,817,800
LNR Lanthanein Resources 0.031 3% $28,884,767
M2R Miramar 0.095 3% $6,502,720
PLL Piedmont Lithium Inc 0.96 3% $490,640,844
STM Sunstone Metals Ltd 0.032 3% $80,489,839
DAF Discovery Alaska Ltd 0.032 3% $6,951,276
QPM Queensland Pacific 0.165 3% $276,842,626
PNN Power Minerals Ltd 0.495 3% $34,635,376
ALY Alchemy Resource Ltd 0.034 3% $38,711,516
MMC Mitremining 0.18 3% $4,739,893
NMT Neometals Ltd 1.1 3% $591,010,764
INR Ioneer Ltd 0.555 3% $1,132,992,401
LPD Lepidico Ltd 0.0195 3% $125,062,108
EPM Eclipse Metals 0.0195 3% $38,460,880
MXR Maximus Resources 0.042 2% $13,075,136
MIN Mineral Resources. 73.39 2% $13,597,758,495
PGD Peregrine Gold 0.435 2% $16,456,661
WES Wesfarmers Limited 45.07 2% $49,934,324,258
AS2 Askarimetalslimited 0.44 2% $19,556,022
WR1 Winsome Resources 0.48 2% $63,503,577
SRI Sipa Resources Ltd 0.051 2% $10,251,240
JRL Jindalee Resources 2.35 2% $132,545,411
ARN Aldoro Resources 0.295 2% $32,070,322
ASN Anson Resources Ltd 0.31 2% $358,309,090
GT1 Greentechnology 0.935 2% $175,479,322
GW1 Greenwing Resources 0.33 2% $41,016,775
SYA Sayona Mining Ltd 0.2375 1% $1,952,968,223
TYX Tyranna Res Ltd 0.0475 1% $113,007,990
OCN Oceanalithiumlimited 0.475 1% $15,756,750
LEL Lithenergy 1.13 1% $67,368,000
NVA Nova Minerals Ltd 0.71 1% $129,481,199
IGO IGO Limited 15.56 0% $11,760,369,136
ADV Ardiden Ltd 0.007 0% $18,678,347
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
ESS Essential Metals Ltd 0.46 0% $115,815,869
EUR European Lithium Ltd 0.09 0% $129,981,526
INF Infinity Lithium 0.21 0% $87,506,952
RLC Reedy Lagoon Corp. 0.013 0% $7,246,550
TKL Traka Resources 0.006 0% $4,132,647
TON Triton Min Ltd 0.023 0% $31,804,036
CHR Charger Metals 0.45 0% $19,622,716
AAJ Aruma Resources Ltd 0.07 0% $10,987,305
AX8 Accelerate Resources 0.03 0% $8,113,767
BYH Bryah Resources Ltd 0.022 0% $6,143,576
SHH Shree Minerals Ltd 0.007 0% $8,669,408
AZL Arizona Lithium Ltd 0.08 0% $192,794,045
LRS Latin Resources Ltd 0.115 0% $228,842,618
MTM Mtmongerresources 0.12 0% $4,501,204
SCN Scorpion Minerals 0.07 0% $23,359,433
ENT Enterprise Metals 0.01 0% $6,529,807
AVW Avira Resources Ltd 0.003 0% $6,401,370
CAI Calidus Resources 0.35 0% $153,223,597
A8G Australasian Metals 0.235 0% $9,675,066
EFE Eastern Resources 0.035 0% $39,211,934
SRZ Stellar Resources 0.012 0% $12,055,571
LSR Lodestar Minerals 0.005 0% $8,692,187
AOA Ausmon Resorces 0.006 0% $5,143,736
VKA Viking Mines Ltd 0.008 0% $8,202,067
G88 Golden Mile Res Ltd 0.026 0% $5,319,334
MNS Magnis Energy Tech 0.37 0% $359,022,649
DRE Dreadnought Resources Ltd 0.115 0% $349,891,358
MM1 Midasmineralsltd 0.18 0% $10,283,718
XTC Xantippe Res Ltd 0.007 0% $57,016,609
WMC Wiluna Mining Corp 0.205 0% $74,238,031
ZEO Zeotech Limited 0.038 0% $61,352,248
LIS Lisenergylimited 0.41 0% $68,024,817
TUL Tulla Resources 0.375 0% $60,081,327
CMD Cassius Mining Ltd 0.03 0% $12,112,227
RIO Rio Tinto Limited 88.47 0% $32,871,195,750
GLN Galan Lithium Ltd 1.515 0% $462,946,219
LLL Leolithiumlimited 0.6225 0% $616,660,570
AZI Altamin Limited 0.085 -1% $33,687,641
GL1 Globallith 2.43 -1% $390,397,710
AGY Argosy Minerals Ltd 0.5125 -1% $724,289,545
MQR Marquee Resource Ltd 0.06 -2% $19,374,672
ZNC Zenith Minerals Ltd 0.28 -2% $98,257,250
LIT Lithium Australia 0.047 -2% $58,616,720
RAS Ragusa Minerals Ltd 0.215 -2% $28,822,778
1MC Morella Corporation 0.021 -2% $124,733,449
MRR Minrex Resources Ltd 0.042 -2% $46,578,286
KZR Kalamazoo Resources 0.19 -3% $29,019,778
LRV Larvottoresources 0.17 -3% $8,733,463
CY5 Cygnus Gold Limited 0.495 -3% $78,246,911
PSC Prospect Res Ltd 0.097 -3% $46,225,946
LRD Lordresourceslimited 0.32 -3% $10,983,925
TEM Tempest Minerals 0.028 -3% $14,638,219
CRR Critical Resources 0.056 -3% $86,430,884
AML Aeon Metals Ltd. 0.026 -4% $29,522,631
TMB Tambourahmetals 0.13 -4% $5,561,001
WML Woomera Mining Ltd 0.013 -4% $10,570,323
RDT Red Dirt Metals Ltd 0.5175 -4% $179,673,744
LPI Lithium Pwr Int Ltd 0.57 -4% $232,764,670
IMI Infinitymining 0.225 -4% $14,832,906
MLS Metals Australia 0.038 -5% $24,281,448
FRS Forrestaniaresources 0.19 -5% $10,083,964
WCN White Cliff Min Ltd 0.019 -5% $14,952,067
IR1 Irismetals 1.615 -5% $106,641,000
PAM Pan Asia Metals 0.38 -6% $59,476,514
WC8 Wildcat Resources 0.03 -6% $20,856,727
AOU Auroch Minerals Ltd 0.054 -7% $21,524,484
TKM Trek Metals Ltd 0.064 -7% $21,432,100
AM7 Arcadia Minerals 0.29 -8% $14,709,836
KGD Kula Gold Limited 0.033 -8% $12,103,629
RGL Riversgold 0.039 -9% $33,380,945
FTL Firetail Resources 0.165 -11% $11,429,763
FG1 Flynngold 0.105 -13% $7,687,326
RAG Ragnar Metals Ltd 0.017 -23% $8,342,068
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57 lithium companies finished in the green, 40 fell flat and 36 tumbled into the red.

 

Who’s got news out?

LITHIUM PLUS MINERALS (ASX:LPM)

Phase-two diamond drilling has recommend at LPM’s Lei prospect to follow-up the phase-| diamond and reverse circulation (RC) drilling program.

This expanded program consists of at least five diamond dholes for around 1,800m targeting extensions to previous hits of high-grade spodumene mineralisation such as 28.8m high-grade zone from 196m and 24m high-grade zone from 173m.

Results of this second phase of work will be used to plan in-fill resource definition drilling, which will follow on immediately afterwards.

 

AURORA ENERGY METALS (ASX:1AE)

Drilling is underway at Aurora’s flagship uranium-lithium project in Oregon with a 17hole RC program underway for 3,400m.

1AE says the decision to drill in this area was driven by outstanding uranium intersections from the five most northern holes drilled in Aurora’s 2011 diamond drill exploration program, which consistently delivered shallow, thick, high-grade results.

Those same holes also intersected lithium in the lakebed sediments overlying the uranium, with hits including 19.2m at 1,161 ppm eU3O and 11m at 1,281ppm Li.

Phase-one drilling is expected to be completed in December 2022, with assays to be submitted progressively and results expected to be available from late December.

 

POWER MINERALS (ASX:PNN)

PNN has kicked off mineral resource definition drilling at the Salta Lithium Project in Argentina beginning with two holes at the Incahuasi salar for a total 1,00m where it is designed to deliver a maiden JORC mineral resource.

The program is expected to take between eight to ten weeks to complete before moving onto the Pocitos and Rincon salares.

 

 

RED MOUNTAIN (ASX:RMX)

RMX has applied for two tenements prospective for lithium within the Bynoe Lithium Province in the Northern Territory – adjacent to Core’s Finniss Lithium Project.

Exploration Licence applications 33345 & 33346 – known as the Charlotte Lithium Project – has been officially recorded by the Northern Territory Mineral Titles office after the areas were identified as prospective from historical geological mapping.

The company continues to assess further project opportunities, particularly in the battery minerals sector, and will update the market as required.

 

CRITICAL RESOURCES (ASX:CRR)

Assays have confirmed high-grade lithium mineralisation along the Maine Zone at Mavis Lake in Canada with a confirmed strike length of 750m.

Latest results include 9.65m at 1.15% Li2O from 131.6m including 7.2m at 1.5% Li2O from 132.95m and 14.75m at 0.87% Li2O from 152.5m, including 1m at 3.57% from 161.3m.

“The deliberate and structured drilling program at our Mavis Lake Lithium Project is consistently delivering results,” managing director Dr Alex Cheeseman says.

A maiden resource estimate is expected to be released in Q1, 2023.

 

LITHIUM ENERGY (ASX:LEL) 

LEL has exercised its option to acquire the mineral concessions comprising the Solaroz Lithium Brine Project in Argentina in consideration of a cash payment of US$3.84 million.

Lithium Energy has now reached agreement with the owner for the early exercise of the option with a cash payment of US$3.84 million (~A$6 million), being a (40%) discount of US$2.49 million (~A$3.9 million).

“The early option exercise reflects the confidence which the company has in the tremendous perspectivity of these concessions, given their location being directly adjacent to or principally surrounded by lithium majors,” LEL executive chairman William Johnson says.

 

GOLDEN STATE MINING (ASX:GSM)

GM has confirmed lithium targets based on the presence of LCT pegmatite path finders within the Nomad prospect at its Yule South project in the Pilbara.

RC drilling by GSM has delivered highly anomalous caesium – an encouraging pathfinder element for lithium pegmatites – at grades as high as 6m at 440ppm.

These results have buoyed GSM’s lithium exploration efforts at Yule South, so much so that the company renamed the area the Nomad prospect – an upgrade from the previous exploration moniker Target 2A.

Further priority air-core and RC drilling programs are now in planning for Nomad, with program of work submissions in place awaiting statutory approvals.

 

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