• Sayona Mining awards one of the largest signed contracts in Québec’s mining history to local operator 
  • Core Lithium says preparations are underway for first shipment of spodumene from Finniss
  • Cygnus Gold has acquired more ground around Pontax project

All your lithium news, Tuesday September 27.

 

Near-term lithium producer, Sayona Mining (ASX:SYA) is another step closer to restarting production at its North American Lithium (NAL) operation after awarding a four-year contract to Québec mining operator L. Fournier & Fills.

Under the agreement, Fournier will be responsible for the supervision of all stripping and drilling, blasting, loading and transportation of ore and waste rock, as well as the maintenance of mining roads, and all other services related to operations.

 

Lithium bulls were quick to respond with shares jumping 7%.

SYA managing director Brett Lynch says with demand pricing for lithium currently at all-time highs, the company is perfectly placed to become the first supplier of spodumene in North America.

“We are delighted to further advance NAL towards the recommencement of production in the first quarter of 2023, with the selection of a skilled and experienced mining operator being a crucial step in this process,” he says.

Operations are set to begin in October 2022, with work to be carried out 24 hours a day, 365 days year.

NOW READ: Could Sayona be on track to become a mini-PLS? Two out of three experts say… sure

 

Here’s how ASX lithium stocks are tracking:

CODE COMPANY PRICE % TODAY % MONTH % WEEK % YEAR MARKET CAP
RAS Ragusa Minerals Ltd 0.42 31% 40% 71% 372% $41,166,102
CY5 Cygnus Gold Limited 0.26 24% -12% 4% 108% $30,908,916
SRZ Stellar Resources 0.014 17% -7% 8% -55% $11,582,372
WR1 Winsome Resources 0.31 15% 17% -5% 0% $36,480,778
LRV Larvottoresources 0.21 11% -13% 0% 0% $7,891,175
MMG Monger Gold Ltd 0.44 10% 11% -19% 83% $16,016,000
PSC Prospect Res Ltd 0.089 10% -11% -3% 287% $37,443,016
MLS Metals Australia 0.046 10% -19% -4% 15% $25,495,520
RLC Reedy Lagoon Corp. 0.014 8% -7% -7% -56% $7,246,550
LRD Lordresourceslimited 0.285 8% 50% 10% 0% $8,820,425
KGD Kula Gold Limited 0.029 7% 32% 26% -44% $7,262,178
SYA Sayona Mining Ltd 0.235 7% -16% -11% 35% $1,828,014,201
WML Woomera Mining Ltd 0.016 7% 7% -11% -23% $10,302,496
PLL Piedmont Lithium Inc 0.84 6% -8% -5% 16% $419,418,786
PLS Pilbara Min Ltd 4.655 6% 31% -2% 118% $13,162,681,910
FRS Forrestaniaresources 0.19 6% 3% -10% 0% $7,706,035
WCN White Cliff Min Ltd 0.019 6% 0% -17% 46% $13,456,861
AGY Argosy Minerals Ltd 0.52 5% 35% -6% 206% $677,773,488
MIN Mineral Resources. 65.31 5% 0% -4% 41% $11,792,103,832
NMT Neometals Ltd 1.18 5% -19% -7% 24% $621,389,822
EPM Eclipse Metals 0.022 5% -4% -4% -65% $42,509,394
CZL Cons Zinc Ltd 0.022 5% -4% 0% -21% $8,134,514
1MC Morella Corporation 0.023 5% -8% -4% -64% $126,844,207
AAJ Aruma Resources Ltd 0.0585 4% -19% -11% -41% $8,789,844
BNR Bulletin Res Ltd 0.12 4% -17% -14% 71% $33,647,977
LPI Lithium Pwr Int Ltd 0.535 4% -12% -10% 81% $201,468,580
LRS Latin Resources Ltd 0.0975 4% -15% -15% 112% $184,945,793
AS2 Askarimetalslimited 0.285 4% -23% -22% 39% $12,394,049
EMS Eastern Metals 0.145 4% 4% 7% 0% $5,411,875
MQR Marquee Resource Ltd 0.059 4% -25% -14% -14% $17,990,202
ESS Essential Metals Ltd 0.445 3% 1% -9% 102% $106,654,528
AML Aeon Metals Ltd. 0.03 3% 0% -3% -45% $31,709,492
LLL Leolithiumlimited 0.6 3% 9% -18% 0% $572,261,009
RIO Rio Tinto Limited 90.66 3% -8% -2% -9% $32,585,359,265
PNN Power Minerals Ltd 0.49 3% -6% -22% -11% $34,274,591
TEM Tempest Minerals 0.033 3% -15% -11% 38% $16,152,518
AKE Allkem Limited 14.28 3% 3% -7% 59% $8,837,941,072
IGO IGO Limited 14 3% 8% -2% 52% $10,291,269,579
OCN Oceanalithiumlimited 0.52 3% -26% -15% 0% $16,930,125
INF Infinity Lithium 0.175 3% 9% -3% 35% $70,722,221
QXR Qx Resources Limited 0.035 3% 13% 0% 218% $29,218,319
RGL Riversgold 0.037 3% -5% -5% 46% $27,906,838
LKE Lake Resources 0.93 3% -22% -11% 49% $1,257,926,207
EUR European Lithium Ltd 0.076 3% -13% -15% -31% $103,617,699
INR Ioneer Ltd 0.58 3% -11% -13% -18% $1,185,445,753
RDT Red Dirt Metals Ltd 0.6 3% -2% -10% 94% $178,164,339
FTL Firetail Resources 0.2 3% -29% -24% 0% $12,047,588
IMI Infinitymining 0.205 3% 5% -18% 0% $11,500,000
MRR Minrex Resources Ltd 0.047 2% -16% -11% 194% $49,816,433
TYX Tyranna Res Ltd 0.048 2% 50% 0% 638% $110,725,451
GLN Galan Lithium Ltd 1.21 2% -3% -13% 21% $360,915,309
LTR Liontown Resources 1.5175 2% -12% -7% 6% $3,272,688,672
GL1 Globallith 2.31 2% 34% -13% 478% $360,245,041
ASN Anson Resources Ltd 0.3 2% 15% -18% 226% $305,401,370
BMM Balkanminingandmin 0.305 2% 56% -10% -62% $9,825,000
VUL Vulcan Energy 7.46 1% -7% -5% -44% $1,053,514,462
CRR Critical Resources 0.072 1% 57% -9% 227% $105,649,082
PAM Pan Asia Metals 0.385 1% -20% -11% -20% $28,089,692
PGD Peregrine Gold 0.5925 1% -22% -1% 69% $22,652,110
LEL Lithenergy 0.82 1% -18% -26% 38% $48,721,500
GT1 Greentechnology 0.75 1% 3% -1% 0% $142,100,103
AZL Arizona Lithium Ltd 0.0785 1% -11% -10% 96% $187,974,194
ADV Ardiden Ltd 0.007 0% 0% -13% -42% $18,678,347
AVZ AVZ Minerals Ltd 0.78 0% 0% 0% 144% $2,752,409,203
LPD Lepidico Ltd 0.023 0% -18% -18% -8% $149,665,398
QPM Queensland Pacific 0.135 0% -10% -13% -49% $212,181,273
TON Triton Min Ltd 0.02 0% -26% -17% -47% $27,655,684
AX8 Accelerate Resources 0.036 0% -8% -3% -8% $9,736,520
AM7 Arcadia Minerals 0.29 0% 4% 0% 53% $13,542,389
FG1 Flynngold 0.12 0% 14% 20% -23% $7,687,326
GSM Golden State Mining 0.046 0% -27% -8% -65% $5,382,653
MMC Mitremining 0.17 0% 31% -6% 0% $4,604,467
SHH Shree Minerals Ltd 0.009 0% 0% 0% -10% $11,146,382
TMB Tambourahmetals 0.15 0% -6% -6% -32% $6,178,890
TSC Twenty Seven Co. Ltd 0.002 0% -5% 0% -43% $5,321,628
MTM Mtmongerresources 0.135 0% -7% -4% -37% $5,063,854
AZI Altamin Limited 0.08 0% -10% -9% -5% $31,337,340
KAI Kairos Minerals Ltd 0.033 0% 14% -27% 10% $64,815,085
AVW Avira Resources Ltd 0.004 0% 0% -11% -33% $8,475,160
RMX Red Mount Min Ltd 0.006 0% -14% 0% -33% $9,854,183
A8G Australasian Metals 0.29 0% -2% -2% -28% $11,939,443
EFE Eastern Resources 0.029 0% -6% -6% -34% $29,195,190
AOA Ausmon Resorces 0.008 0% 0% 0% 14% $6,858,315
IPT Impact Minerals 0.0075 0% -6% 7% -48% $18,610,279
G88 Golden Mile Res Ltd 0.032 0% -9% -3% -33% $6,546,872
WC8 Wildcat Resources 0.033 0% 22% -8% 32% $21,294,000
MNS Magnis Energy Tech 0.39 0% -17% -15% 24% $378,429,278
THR Thor Mining PLC 0.009 0% -10% -18% -50% $9,892,470
MM1 Midasmineralsltd 0.2 0% -15% 0% 11% $11,426,353
M2R Miramar 0.095 0% -30% -10% -55% $6,097,733
WMC Wiluna Mining Corp 0.205 0% 0% 0% -76% $74,238,031
AUN Aurumin 0.1 0% -13% -5% -43% $12,530,714
ZEO Zeotech Limited 0.041 0% -25% -18% -56% $64,038,534
ALY Alchemy Resource Ltd 0.02 0% -5% 0% 46% $19,061,519
KTA Krakatoa Resources 0.061 0% -3% -5% -24% $21,027,305
LNR Lanthanein Resources 0.04 0% -17% -25% 82% $38,513,023
DAL Dalaroometalsltd 0.125 0% 25% -4% 0% $3,734,375
TKM Trek Metals Ltd 0.066 0% -24% 0% -59% $20,500,270
TUL Tulla Resources 0.435 0% -18% -10% -6% $69,694,339
WES Wesfarmers Limited 44.06 0% -8% -3% -21% $49,957,001,063
IR1 Irismetals 1.9 -1% 82% -15% 827% $116,834,700
CAI Calidus Resources 0.505 -1% -20% -9% -11% $223,268,670
EMH European Metals Hldg 0.74 -1% 1% -12% -48% $89,803,856
LIT Lithium Australia 0.054 -2% -35% -8% -57% $67,080,377
CHR Charger Metals 0.47 -2% -6% -13% -10% $20,930,897
ARN Aldoro Resources 0.21 -2% -14% -5% -52% $21,411,273
RAG Ragnar Metals Ltd 0.037 -3% -18% 0% 6% $14,409,026
VMC Venus Metals Cor Ltd 0.155 -3% -6% -6% -9% $25,612,589
ZNC Zenith Minerals Ltd 0.28 -3% -8% -5% 37% $99,981,061
LIS Lisenergylimited 0.52 -4% -9% -15% 0% $89,593,661
EVR Ev Resources Ltd 0.025 -4% -19% -17% -24% $24,075,586
JRL Jindalee Resources 2.21 -4% -15% -15% -5% $131,971,622
SRI Sipa Resources Ltd 0.048 -4% 12% -8% -21% $10,251,240
MXR Maximus Resources 0.048 -4% 4% 2% -45% $15,945,288
DRE Dreadnought Resources Ltd 0.105 -5% -5% -9% 176% $334,678,691
CXO Core Lithium 1.2 -5% -14% -16% 189% $2,188,866,149
KZR Kalamazoo Resources 0.195 -5% -13% -22% -43% $30,195,347
SCN Scorpion Minerals 0.072 -5% -19% -10% 18% $25,219,171
XTC Xantippe Res Ltd 0.0085 -6% -15% -15% 325% $73,307,069
DAF Discovery Alaska Ltd 0.075 -6% -15% -1% 108% $17,938,776
NVA Nova Minerals Ltd 0.715 -7% -18% -14% -51% $141,419,182
AOU Auroch Minerals Ltd 0.062 -7% -9% -18% -65% $24,864,491
STM Sunstone Metals Ltd 0.035 -8% -20% -13% 52% $98,664,964
NWM Norwest Minerals 0.035 -8% -43% -22% -56% $8,440,081
ENT Enterprise Metals 0.011 -8% 0% -8% -21% $7,835,768
DTM Dart Mining NL 0.073 -9% -16% -20% -30% $12,384,813
GW1 Greenwing Resources 0.365 -10% 38% 20% 9% $49,915,176
BYH Bryah Resources Ltd 0.026 -10% -4% -10% -55% $8,098,351
VKA Viking Mines Ltd 0.007 -13% -13% -13% -56% $8,202,067
TKL Traka Resources 0.006 -14% -14% -14% -54% $4,821,422
LSR Lodestar Minerals 0.006 -14% -14% -8% -40% $12,169,061
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62 lithium stocks finished in the green, 38 fell flat, and 31 ended the day in the red zone.

 

Who’s got news out today?

CORE LITHIUM (ASX:CXO)

Core Lithium says preparations are underway for the company’s first shipment of direct ship ore spodumene from the Finniss Project near Darwin in the Northern Territory before the end of 2022.

Due to the high level of interest in Finniss ore, the shipment will be sold via a tender process using a digital exchange platform.

In a business update regarding mining operations and resource expansion activities this morning, CXO revealed crushing and screening works are on track for commissioning ahead of the DSO sale.

A nightshift has been implemented to accelerate construction of the Dense Media Separation (DMS) plant which is also on track to support spodumene concentrate production in the first half of 2023.

The 12-hole diamond drilling program, that commenced in May at BP33, is now complete with the best result hitting 76m of highly mineralised pegmatite.

Assays have been received for five holes while three holes remain outstanding.

 

CYGNUS GOLD (ASX:CY5)

CY5 has acquired another 30km of prospective strike around the Pontax project, located in the lithium-rich James Bay province of Canada.

The additional ground hosts known lithium-caesium-tantalum (LCT) pegmatites with high-grade rock chip samples of up to 2.8% Li2O, it says.

This latest acquisition increases Cygnus’s ground position by over 600% and with existing mineralised pegmatites already identified, there is huge potential for further discoveries, exec director Michael Naylor says.

The $37m market cap stock is up 85% since acquiring Pontax in July.

 

RAGUSA MINERALS (ASX:RAS)

This market darling hit fresh seven-year highs after announcing that maiden drilling at its NT lithium project would start next week.

Additional lithium targets have also been identified, RAS says. One of them boasts a ~150m outcrop width.

“The company is very excited as we prepare to commence our maiden drilling program at our strategic and highly prospective NT Lithium Project,” says chair Jerko Zuvela, also MD at near term lithium producer Argosy (ASX:AGY).

The company’s share price is now up 450% year-to-date.

 

AURORA ENERGY METALS (ASX:1AE)

Final lithium assays have been received at the Aurora Energy Metals Project (AMP).

Samples of the lake bed sediments for two additional 2011 core holes (AUD028 and AUD032) were sent for analysis.

Results at a cut off of 1,000ppm lithium include 27.3m at 1,164ppm lithium from 17.4m, plus 6.7m at 1,172ppm lithium from 61m as well as 4.6m at 1,278ppm lithium for 45.5m.

These results are consistent with those previously reported at Aurora and are comparable to those encountered at Jindalee Resources’ (ASX:JRL) nearby McDermitt Lithium Project, one of the USA’s largest lithium deposits.

Importantly, the intercept in AUD028 is the thickest received to date at Aurora and is the hole closest to the graben margin to the north-east where it is interpreted that the lake sediments increase in thickness, potentially up to 200m.

Whilst the lithium component at AMP is unquestionably early stage, 1AE says it has already developed a clear view of what the future operation should look like and is moving swiftly to put the building blocks in place early to enhance prospects for future development.

 

METALSGROVE MINING (ASX:MGA)

Multiple outcropping pegmatite dykes occurring in swarms have been highlighted following a program of surface field mapping and rock chip sampling.

The dykes vary from 3m to 30m wide within a regional corridor extending 8km.

Initial observations suggest the pegmatites at Upper Coondina may be part of the same system that hosts the major lithium discovery announced by Global Lithium (ASX: GL1) at its Archer Project to the north-east of our ground, which further underpins the strong lithium prospectivity at Upper Coondina.

“Given this project has never been systematically explored for lithium, we continue to be highly encouraged by these early works,” managing director Sean Sivasamy says.

“Importantly, data obtained from the mapping program, and other pre-drilling works completed at site, will be used to develop priority drill targets ahead of planned maiden drill program in quarter four.”

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