• Australasia now holds 90% of Barrow Creek JV
  • Morella gears up for phase 2 passive seismic survey at Fish Lake Project
  • Kai to investigate LCT pegmatite potential at Lalla Rookh

 

All your ASX lithium news for Tuesday, February 22.

 

It looks like the Pentagon plans to boost the stockpile of rare earth minerals, cobalt and lithium it manages for the US government, as part of plans to reduce its long-term dependence on China.

Reuters reported that new stockpile agreement guidance is expected to be announced as soon as next week. That’s nearly a year after President Joe Biden issued an executive order to study US supply chain resiliency.

The Departments of State, Energy and Defence signed an agreement which allows them to coordinate and draw from the stockpiles.

Lithium will be vital to the Pentagon’s goal of shifting its non-tactical vehicle fleet, currently 170,000 strong, to zero emissions – especially considering there is only one active mine in the US at Albemarle’s (NYSE:ALB) Silver Peak project in Nevada.

Here’s how ASX lithium stocks are tracking today:

Code Company Price % Month % Week % Today Market Cap
DTM Dart Mining NL 0.095 2% 12% 6% $11,204,183.70
FG1 Flynngold 0.165 -11% -3% 3% $10,249,768.00
LIT Lithium Australia NL 0.1125 -13% -2% 2% $113,582,765.56
AZI Altamin Limited 0.073 6% 18% 1% $20,933,016.77
GXY Galaxy Resources 0 -100% -100% 0% $2,715,139,305.12
LKE Lake Resources 0.905 -4% 8% 0% $1,106,363,854.79
TSC Twenty Seven Co. Ltd 0.004 0% 14% 0% $10,643,255.62
ENT Enterprise Metals 0.015 -20% -12% 0% $8,595,302.18
AVW Avira Resources Ltd 0.006 20% 0% 0% $10,312,740.00
RMX Red Mount Min Ltd 0.009 -18% -10% 0% $14,781,274.72
PSC Prospect Res Ltd 0.84 -2% 2% -1% $362,693,728.22
GSM Golden State Mining 0.085 -29% -8% -1% $7,145,566.71
BYH Bryah Resources Ltd 0.049 -20% -11% -2% $11,310,358.75
TMB Tambourahmetals 0.23 -19% -6% -2% $9,680,260.53
LRS Latin Resources Ltd 0.037 6% 9% -3% $54,701,997.99
IMI Infinitymining 0.175 -8% -8% -3% $10,350,000.00
AML Aeon Metals Ltd. 0.047 0% 0% -3% $41,991,731.07
IGO IGO Limited 11.07 -14% -9% -3% $8,685,861,815.11
GLN Galan Lithium Ltd 1.34 -22% -4% -4% $412,634,495.11
STM Sunstone Metals Ltd 0.076 -19% -11% -4% $176,922,157.34
MIN Mineral Resources. 45.56 -29% -11% -4% $8,943,945,992.96
CXO Core Lithium 0.755 -11% -5% -4% $1,330,048,460.47
ADV Ardiden Ltd 0.0125 -26% -22% -4% $34,588,350.63
JRL Jindalee Resources 2.72 -5% -5% -4% $153,114,223.78
TEM Tempest Minerals 0.023 -18% 0% -4% $9,549,621.55
SCN Scorpion Minerals 0.068 -4% -12% -4% $18,879,339.63
PGD Peregrine Gold 0.565 -10% -1% -4% $22,489,695.52
ARN Aldoro Resources 0.395 7% 3% -5% $37,158,514.44
CAI Calidus Resources 0.68 -17% -4% -5% $286,189,485.01
A8G Australasian Metals 0.475 -25% -14% -5% $20,085,247.00
PLS Pilbara Min Ltd 2.78 -22% -9% -5% $8,722,013,794.81
PLL Piedmont Lithium Inc 0.64 -5% -6% -5% $372,558,555.00
NVA Nova Minerals Ltd 0.855 -20% -3% -6% $163,083,067.93
MTM Mtmongerresources 0.16 3% -6% -6% $4,812,705.61
RDT Red Dirt Metals Ltd 0.555 -24% -6% -6% $150,541,783.35
FFX Firefinch Ltd 0.61 -19% -8% -6% $765,788,530.00
VUL Vulcan Energy 8.27 -12% -6% -6% $1,161,109,693.80
SYA Sayona Mining Ltd 0.1125 -13% -6% -6% $851,630,546.28
AKE Allkem Limited 8.78 -15% -3% -7% $5,992,740,508.40
EMS Eastern Metals 0.21 -25% -5% -7% $8,010,000.00
AS2 Askarimetalslimited 0.345 -10% 1% -7% $14,108,109.25
1MC Morella Corporation 0.0195 -46% -22% -7% $108,700,493.71
RLC Reedy Lagoon Corp. 0.026 -37% -13% -7% $15,340,002.44
BMM Balkanminingandmin 0.325 -19% -4% -7% $11,462,500.00
NMT Neometals Ltd 1.21 -25% -8% -7% $715,631,196.78
PAM Pan Asia Metals 0.5 -24% -9% -7% $39,775,667.76
GL1 Globallith 1.375 -17% -2% -8% $202,819,655.26
WR1 Winsome Resources 0.355 -29% -8% -8% $51,767,097.69
GT1 Greentechnology 0.705 -15% -13% -8% $81,090,000.00
KAI Kairos Minerals Ltd 0.023 -23% -12% -8% $49,052,337.28
EMH European Metals Hldg 1.16 -24% -12% -8% $177,576,860.73
TKL Traka Resources 0.011 -39% -8% -8% $8,265,294.73
AX8 Accelerate Resources 0.043 2% 2% -9% $11,912,568.25
INR Ioneer Ltd 0.535 -27% -6% -9% $1,199,570,813.42
RAG Ragnar Metals Ltd 0.032 -30% -9% -9% $13,043,971.12
CHR Charger Metals 0.63 -25% -13% -9% $22,469,413.92
MQR Marquee Resource Ltd 0.105 -30% -16% -9% $24,663,486.73
AGY Argosy Minerals Ltd 0.295 -19% -18% -9% $426,468,232.45
INF Infinity Lithium 0.145 -22% -15% -9% $66,372,710.56
MRR Minrex Resources Ltd 0.058 -13% -9% -9% $44,825,251.65
AVZ AVZ Minerals Ltd 0.72 -3% -11% -9% $2,744,390,148.60
PNN PepinNini Minerals 0.41 -21% 0% -10% $27,854,332.87
LPI Lithium Pwr Int Ltd 0.54 -19% -13% -10% $209,261,908.80
LEL Lithenergy 0.84 -18% -16% -10% $42,075,000.00
ASN Anson Resources Ltd 0.1075 -26% -10% -10% $122,567,913.60
LTR Liontown Resources 1.33 -18% -5% -10% $3,255,454,419.03
QXR Qx Resources Limited 0.034 -21% -3% -11% $27,202,768.20
EFE Eastern Resources 0.05 -32% -9% -11% $55,115,724.94
MLSDA Metals Australia 0.041 3% -2% -11% $12,048,681.93
LPD Lepidico Ltd 0.0285 -39% -19% -11% $199,648,970.98
SHH Shree Minerals Ltd 0.016 14% -24% -11% $19,138,264.06
WML Woomera Mining Ltd 0.016 -24% -11% -11% $12,272,995.19
ESS Essential Metals Ltd 0.325 -37% -17% -12% $90,371,379.64
ESS Essential Metals Ltd 0.325 -37% -17% -12% $90,371,379.64
MMC Mitremining 0.18 -8% -5% -12% $5,552,445.50
TON Triton Min Ltd 0.028 -26% -15% -13% $39,769,093.66
KZR Kalamazoo Resources 0.29 -22% -11% -13% $48,277,129.36
AM7 Arcadia Minerals 0.22 -20% -4% -14% $8,923,087.50
BNR Bulletin Res Ltd 0.125 -11% 19% -14% $41,406,186.95
AAJ Aruma Resources Ltd 0.086 -9% -28% -14% $12,596,150.30
WCN White Cliff Min Ltd 0.024 -4% -23% -14% $16,817,539.17
QPM Queensland Pacific 0.1325 -30% -20% -15% $239,182,535.31
FRS Forrestaniaresources 0.28 -32% -27% -15% $9,256,500.00
KGD Kula Gold Limited 0.041 -11% -7% -18% $10,758,781.60
AZL Arizona Lithium Ltd 0.11 -33% -21% -19% $269,698,471.43
EUR European Lithium Ltd 0.085 -37% -26% -19% $119,314,812.65
LRV Larvottoresources 0.21 0% -16% -19% $10,499,450.00
CRR Critical Resources 0.076 -37% -24% -21% $127,596,257.09

Who’s got news out today?

Australasia Metals (ASX:A8G)

The explorer has finalised the acquisition of a 90% JV interest in Barrow Creek project in the NT from Prodigy Gold (ASX:PRX).

This means the company’s landholding in the highly prospective Northern Arunta pegmatite province has now increased to more than 1,500km 2.

A8G has kicked off a soil sampling program up the road at Mt Peake, along with reconnaissance and mapping at Barrow Creek.

“The company is on the fast track to define the high-priority targets for drilling,” MD Dr. Qingtao Zeng said.

 

Morella Corporation (ASX:1MC)

The US explorer has completed Phase 1 of a Passive Seismic Survey (PSS) on its Fish Lake Valley project in Nevada, and says the results support excellent opportunities for sub-surface reservoir depth and the potential for volume scale at the project.

Phase 2 PSS is set to commence in March 2022 with additional geophysical work being planned to understand the sub-surface layering and structure.

This will form the basis of a future drilling program to target potential lithium-bearing brine reservoirs.

It’s prime placement for development, with Tesla’s Nevada Gigafactory located near Reno.

 

Kairos Minerals (ASX:KAI)

A review of regional datasets has highlighted numerous large-scale regional structures considered prospective for lithium-caesium-tantalum (LCT) pegmatites at the company’s Lalla Rookh Project inWA.

The data included satellite imagery, aeromagnetics, radiometrics and gravity data from the project, which is just 25km north of the Pilgangoora lithium-tantalum Project, owned by Pilbara Minerals (ASX:PLS).

“The strategic location of our tenements just 25km from one of the largest lithium deposits in the world at Pilgangoora added further impetus to our review of the lithium potential of this area,” chairman Terry Topping said.

“We have planned an extensive heli-borne mapping and sampling program that will commence next month to fast-track our evaluation of these extensive targets.”

“Subject to the results, we will move quickly to refine areas for potential drilling as part of our 2022 exploration field season.”

 

Marquee Resources (ASX:MQR)

The company has started aircore drilling to target multiple lithium geochemical anomalies up to 503ppm from its West Spargoville project in.

The drilling will follow up a major lithium geochemical anomaly coincident with a geophysical Digital Ground Penetrating Radar (DGPR) layered anomaly.

Marquee executive chairman Charles Thomas says its “very encouraging to observe multiple lithium geochemical anomalies throughout the project area, and specifically seeing coincidental geochemical anomalism overlapping with geophysical targets identified from the DGPR survey.”

“We have begun aircore drilling to test these coincidental anomalies with the aim of identifying the next lithium discovery in the Eastern Goldfields,” he said.

 

Eastern Resources (ASX:EFE)
The Department of Mines, Industry Regulation and Safety, WA has granted an exploration licence for the Trigg Hill lithium-tantalum project – which the company has an option to acquire 100% interest in.

Trigg Hill was an old tantalum and tin mine operated during 1960s and early 1980s. It’s around 75kms from Pilgangoora and 77kms from Mineral Resources (ASX:MIN) Wodgina lithium and tantalum mine.

A two week work program has been planned, with field work to commence shortly.

 

Critical Resources (ASX:CRR)
The company says that preliminary surface reconnaissance works at its Graphic Lake project in Canada have confirmed the presence of lithium enrichment.

Assays demonstrate elevated anomalous lithium levels, higher than minimum background levels as well as anomalous rare element enrichment – which suggests an LCT type pegmatite system.

“As an early-stage project, we feel that we can employ a strategic and structured exploration strategy to begin delineating further mineralisation with a target of defining a JORC compliant resource,” MD Alex Biggs said.

“Our initial focus will be on proving geological continuity before defining drill targets.”

CRR plans to complete a diamond drilling program once targets are defined.