Eye on Lithium: The West could end EV battery ties with China by 2030 and Sayona could benefit
All your lithium news, Thursday November 24.
Goldman Sachs believes the United States and Europe could both end reliance on Chinese EV batteries by 2030 putting Sayona Mining (ASX:SYA) in a prime position as it closes in on a restart of its North American Lithium (NAL) operation Québec, Canada.
The operation is on track to recommence production in Q1 2023 with both procurement and permitting activities nearing the finish line and construction activities ramping up.
Mining contractors L.Fournier & Fils started operations in October with work underway and necessary equipment and personnel mobilised on site.
Sayona is also targeting an expansion of NAL’s future mine production capacity following the recent acquisition of 48 new claims spanning nearly 2,000ha adjacent to NAL.
“With lithium demand continuing to increase and supply remaining constrained, we are focused on achieving our targets as we build the largest lithium resource base in North America,” SYA managing director Brett Lynch says.
— Reuters (@Reuters) November 22, 2022
44 lithium companies finished in the green, 59 fell flat and 30 tumbled into the red.
LSR flew out of the gate in early morning trade with shares gaining some 75% after announcing high-grade lithium results at the Nepean Project in WA.
Drilling intersected pegmatite-hosted mineralisation in the northern area of the Nepean JV tenements returning 6m at 1.38% Li2O from 198m, including 2m at 3.26% Li2O from 198m.
In an important breakthrough, LSR says the lithium-bearing mineral is identified as spodumene, differentiating this pegmatite from the nearby Lepidolite Hill deposit and highlighting the potential for spodumene-bearing pegmatites within the wider Coolgardie greenstone terrane.
Geological mapping and sampling to locate surface expressions of the pegmatite will begin and additional RC drilling is planned.
Numerous outcropping pegmatites have been identified at Accelerate’s East Pilbara lithium project.
Four large pegmatite bodies have been discovered within the potential “Goldilocks Zone”, each striking at least 300m and 20m to 40m wide.
Around 14 smaller outcropping pegmatites have also been discovered – small, individual pegmatite veins and pods were also common, AX8 says.
Results (due in January) from the current program will be used to prioritise the targets for follow-up mapping and sampling in early 2023, and to progress to the drilling stage.
WSR has completed negotiations to enter an option agreement over the Mindoolah Lithium-Gold Project around 70km west of Cue in WA – which sent shares in the company surging some 60% this morning.
Westar has also executed an agreement for the sale of the Gidgee South Project, located approximately 60km north of the town of Sandstone with Aurumin (ASX:AUN).
The agreement over the Mindoolah tenure and divestment of Gidgee South are aligned to Westar’s exploration strategy of exploring for company making assets in areas of known mineralisation.
Here, initial exploration work will focus on recently identified mapped outcrops of pegmatites over several kilometres of strike, with no sampling for LCT mineralisation.
“In the background, we will refine the potential priority targets for gold exploration,” WSR managing director Karl Jupp says.
JRL has hit ‘outstanding’ intersections in all six holes at the Mcdermitt Lithium Project with grades up to 23.4m at 176ppm Li from 133.6m, including 6m at 2211ppm Li from 140.2m.
Mineralised intercepts in MDD025 extend from 21.4m to 203.6m with the thickness of mineralised sediments (182.2m at 1197 ppm Li from 21.4m) suggesting excellent potential for substantial tonnage increases on the western side of the deposit.
LRS has recommenced field work at the Catamarca Lithium Project in Argentina to develop further understanding of this fertile pegmatite system.
The company plans to do this through systematic mapping of the spodumene occurrences, coupled with detailed surface sampling to define follow-up drill targets.
In parallel with this work, LRS will also re-establish its link with the wider Catamarca regional community though a program of ongoing and sustained community consultation via a network of local community representatives.
Maiden drilling has wrapped up at the Tambourah South Lithium Project – a total of 21 RC holes were completed for 1,812m.
Over 41 individual pegmatite units containing visual lepidolite and spodumene were logged in 18 of the 21 holes with pegmatite intervals varying from 1m up to 35m.
Drill samples have been sent to a laboratory for analysis.