Eye on Lithium: This battery minerals explorer may have multiple repeats to its Namibian lithium hit

Arcadia confirms lithium at Madube Pan with 44% greater thickness than the Eden Pan at Bitterwasser
Power Minerals completes first diamond drill hole at the Salta Lithium Project
Green Technology Metals returns 4.06% Li2O at the McCombe deposit in Canada

All your lithium news, Tuesday November 22.

Lithium explorer Arcadia Minerals (ASX:AM7) shot up 12% in early trade this morning, before retreating to around 6%, after confirming lithium mineralisation in its first hole at the Madube Pan, one of the 14 exposed clay pans that sits within the Bitterwasser lithium clay project in Namibia.

The grades are similar to those previously returned at Eden Pan where a lithium JORC resource of 287,000t lithium carbonate at a 500ppm cut off was defined back in August.

At the time, Arcadia said the resource upgrade was equivalent to a 1% lithium hard rock resource of 11.6Mt; not bad for a ~$20m market cap company.

Using a similar cut off at the Madube Pan, drill hole MDB01 has resulted in a 9.6 mineralised intersection at an average grade of 605 ppm Li.

AM7 says the clay unit thickness analysed from the eight holes drilled to date at Madube Pan suggest the green clay unit is 44% thicker than the green clay unit of the Eden Pan and has prompted the company to plan an additional nine holes on a 500m grid to be completed in December.

“We are encouraged that the tenor of mineralisation over the Madube pan seems to replicate that which we’ve encountered over the Eden Pan,” Arcadia’s managing director Philip le Roux says.

“Considering the wider intercepts and similar mineralisation levels encountered at the Madube Pan, we are hopeful that it could lead to a meaningful expansion of the existing mineral resource over the Bitterwasser Clay project once drilling has been completed.”

Here’s how ASX lithium stocks are faring:

CODE	COMPANY	PRICE	% TODAY	MARKET CAP
TKL	Traka Resources	0.007	40%	$3,443,873
RMX	Red Mount Min Ltd	0.005	25%	$6,569,455
XTC	Xantippe Res Ltd	0.007	17%	$48,871,379
LRS	Latin Resources Ltd	0.13	13%	$230,914,313
AML	Aeon Metals Ltd.	0.033	10%	$32,892,019
CY5	Cygnus Gold Limited	0.5	10%	$70,036,018
PAM	Pan Asia Metals	0.47	9%	$63,147,904
GT1	Greentechnology	1.1025	9%	$192,645,777
KGD	Kula Gold Limited	0.037	9%	$12,281,205
AZI	Altamin Limited	0.1	9%	$36,037,941
TON	Triton Min Ltd	0.027	8%	$34,569,604
AM7	Arcadia Minerals	0.27	8%	$11,674,473
LLI	Loyal Lithium Ltd	0.585	7%	$25,473,300
ASN	Anson Resources Ltd	0.25	6%	$276,335,090
GLN	Galan Lithium Ltd	1.535	6%	$440,103,478
LNR	Lanthanein Resources	0.035	6%	$31,773,244
IPT	Impact Minerals	0.0095	6%	$22,332,335
AUN	Aurumin	0.073	4%	$9,296,500
MIN	Mineral Resources.	86.49	4%	$15,747,969,294
A11	Atlantic Lithium	0.8825	4%	$514,880,411
TEM	Tempest Minerals	0.028	4%	$13,628,687
ESS	Essential Metals Ltd	0.435	4%	$107,374,539
SYA	Sayona Mining Ltd	0.2175	4%	$1,784,673,332
DAF	Discovery Alaska Ltd	0.03	3%	$6,502,806
IGO	IGO Limited	16.035	3%	$11,745,223,780
INR	Ioneer Ltd	0.5425	3%	$1,101,627,590
IMI	Infinitymining	0.31	3%	$18,935,625
PLS	Pilbara Min Ltd	4.925	3%	$14,284,390,333
QXR	Qx Resources Limited	0.065	3%	$55,557,326
FTL	Firetail Resources	0.17	3%	$10,725,000
PLL	Piedmont Lithium Inc	0.865	3%	$443,159,472
1MC	Morella Corporation	0.0175	3%	$98,626,448
CRR	Critical Resources	0.0535	3%	$77,663,126
QPM	Queensland Pacific	0.18	3%	$302,796,622
AAJ	Aruma Resources Ltd	0.078	3%	$11,929,074
MRR	Minrex Resources Ltd	0.044	2%	$46,592,293
LTR	Liontown Resources	2.075	2%	$4,458,763,761
AKE	Allkem Limited	14.59	2%	$9,105,757,468
CXO	Core Lithium	1.435	2%	$2,582,838,784
PSC	Prospect Res Ltd	0.1325	2%	$60,093,730
LIS	Lisenergylimited	0.3975	2%	$64,706,533
LLL	Leolithiumlimited	0.545	2%	$527,861,448
BMM	Balkanminingandmin	0.295	2%	$12,473,119
AOU	Auroch Minerals Ltd	0.06	2%	$21,895,596
ZNC	Zenith Minerals Ltd	0.305	2%	$103,653,684
KTA	Krakatoa Resources	0.061	2%	$20,682,595
IR1	Irismetals	1.88	2%	$116,050,500
RIO	Rio Tinto Limited	105.38	1%	$38,580,501,121
CAI	Calidus Resources	0.375	1%	$161,979,231
TUL	Tulla Resources	0.395	1%	$78,231,167
LKE	Lake Resources	1.0525	1%	$1,446,950,657
AGY	Argosy Minerals Ltd	0.6575	1%	$912,864,874
NMT	Neometals Ltd	1.05	1%	$574,850,823
WES	Wesfarmers Limited	48.285	1%	$54,333,624,397
VUL	Vulcan Energy	7.26	0%	$1,037,747,579
ADV	Ardiden Ltd	0.009	0%	$24,015,018
AVZ	AVZ Minerals Ltd	0.78	0%	$2,752,409,203
AS2	Askarimetalslimited	0.45	0%	$22,202,605
DTM	Dart Mining NL	0.068	0%	$10,557,691
EMS	Eastern Metals	0.11	0%	$4,297,085
FG1	Flynngold	0.12	0%	$7,687,326
MMC	Mitremining	0.17	0%	$4,604,467
RAG	Ragnar Metals Ltd	0.016	0%	$6,066,958
SHH	Shree Minerals Ltd	0.009	0%	$11,146,382
TMB	Tambourahmetals	0.145	0%	$5,972,927
TSC	Twenty Seven Co. Ltd	0.002	0%	$10,643,256
WCN	White Cliff Min Ltd	0.0175	0%	$13,083,059
WML	Woomera Mining Ltd	0.014	0%	$10,961,817
AZL	Arizona Lithium Ltd	0.077	0%	$185,564,268
KZR	Kalamazoo Resources	0.25	0%	$37,204,844
SCN	Scorpion Minerals	0.081	0%	$27,030,202
ENT	Enterprise Metals	0.01	0%	$6,529,807
KAI	Kairos Minerals Ltd	0.03	0%	$58,922,805
STM	Sunstone Metals Ltd	0.037	0%	$96,956,517
AVW	Avira Resources Ltd	0.0035	0%	$7,468,265
BNR	Bulletin Res Ltd	0.125	0%	$36,573,888
MQR	Marquee Resource Ltd	0.052	0%	$16,516,114
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	0.009	0%	$9,227,326
SRI	Sipa Resources Ltd	0.044	0%	$9,987,380
G88	Golden Mile Res Ltd	0.023	0%	$4,705,564
EPM	Eclipse Metals	0.019	0%	$38,460,880
EVR	Ev Resources Ltd	0.021	0%	$19,445,665
WC8	Wildcat Resources	0.03	0%	$19,553,182
THR	Thor Mining PLC	0.009	0%	$9,925,951
MXR	Maximus Resources	0.043	0%	$13,712,948
M2R	Miramar	0.096	0%	$6,785,447
WMC	Wiluna Mining Corp	0.205	0%	$74,238,031
DAL	Dalaroometalsltd	0.115	0%	$3,435,625
CMD	Cassius Mining Ltd	0.03	0%	$12,112,227
GL1	Globallith	2.42	0%	$505,921,762
WR1	Winsome Resources	1.125	0%	$157,286,984
DRE	Dreadnought Resources Ltd	0.0955	-1%	$295,076,309
LEL	Lithenergy	0.9	-1%	$54,435,750
NVA	Nova Minerals Ltd	0.75	-1%	$138,664,263
CHR	Charger Metals	0.58	-1%	$25,509,530
MTM	Mtmongerresources	0.099	-1%	$3,751,003
EUR	European Lithium Ltd	0.096	-1%	$140,576,200
GW1	Greenwing Resources	0.35	-1%	$44,802,939
LIT	Lithium Australia	0.053	-2%	$65,944,350
PNN	Power Minerals Ltd	0.52	-2%	$38,243,227
LPI	Lithium Pwr Int Ltd	0.515	-2%	$205,380,591
RAS	Ragusa Minerals Ltd	0.1275	-2%	$17,188,359
MLS	Metals Australia	0.05	-2%	$30,958,846
GSM	Golden State Mining	0.049	-2%	$5,850,710
LRD	Lordresourceslimited	0.245	-2%	$8,321,155
PGD	Peregrine Gold	0.46	-2%	$18,213,388
A8G	Australasian Metals	0.225	-2%	$9,469,214
ZEO	Zeotech Limited	0.037	-3%	$61,352,248
JRL	Jindalee Resources	2.19	-3%	$129,102,674
RDT	Red Dirt Metals Ltd	0.545	-3%	$186,328,327
LPD	Lepidico Ltd	0.0175	-3%	$137,479,882
FRS	Forrestaniaresources	0.175	-3%	$9,075,568
RGL	Riversgold	0.035	-3%	$34,036,838
BYH	Bryah Resources Ltd	0.026	-4%	$7,593,844
ALY	Alchemy Resource Ltd	0.026	-4%	$31,673,059
EMH	European Metals Hldg	0.745	-4%	$92,286,444
MNS	Magnis Energy Tech	0.365	-4%	$368,725,964
CZL	Cons Zinc Ltd	0.022	-4%	$10,647,193
OCN	Oceanalithiumlimited	0.54	-4%	$18,941,625
EFE	Eastern Resources	0.042	-5%	$49,846,832
ARN	Aldoro Resources	0.375	-5%	$44,432,490
LRV	Larvottoresources	0.18	-5%	$9,482,045
INF	Infinity Lithium	0.175	-5%	$81,821,132
MM1	Midasmineralsltd	0.16	-6%	$9,712,400
NWM	Norwest Minerals	0.057	-7%	$13,548,551
VMC	Venus Metals Cor Ltd	0.14	-7%	$26,711,802
AX8	Accelerate Resources	0.026	-7%	$7,572,849
TKM	Trek Metals Ltd	0.087	-7%	$34,210,838
RLC	Reedy Lagoon Corp.	0.012	-8%	$7,246,550
TYX	Tyranna Res Ltd	0.028	-10%	$74,568,185

54 lithium companies gained, 40 were flat, and 39 fell today.

Who’s got news out?

POWER MINERALS (ASX:PNN)

The first diamond drill hole of PNN’s mineral resource campaign has been completed to a depth of 400m at the Incahuasi salar within the Salta Lithium Project.

Multiple, highly encouraging potential lithium brine aquifers of significant thickness intersected including 191m thick sandy gravel unit hosting brine with visual medium to high drainable porosity.

The halite unit occurs from surface to 52m containing saturated brine and of a visual estimate of medium to high drainable porosity, which has potential to host significant quantities of lithium brine.

Brine sampling will be conducted to determine brine density and indicative aquifer flow rate as samples are sent out immediately for laboratory analysis.

“Additional drilling at Incahuasi is designed to deliver a maiden JORC Mineral Resource for lithium at this salar, while upcoming drilling at the Pocitos and Rincon salares aims to deliver a substantial increase to the current Mineral Resource at the project,” PNN executive director Mena Habib says.

GREEN TECHNOLOGY METALS (ASX:GT1)

Exceptional assays have been returned at the McCombe deposit within the wider Seymour Project in Ontario, Canada hitting the highest grade drill intersection to date at 4.06% Li2O.

31 drill holes have been drilled to date with two diamond drill rigs operating 24/7 and returning hits of up to 8m at 1.72% Li2O from 64m including another interval of 2m at 4.06% Li2O from 64.6m, 8.4m at 1.31% Li2O from 102m and 13.4m at 1.24% Li2O from 28.9m.

“Recent assay returns have confirmed that McCombe is higher grade than originally interpreted based on historical data,” CEO Luke Cox says.

“The Root Project as a whole is also developing into a much larger complex, with McCombe potentially joining with Morrison to form a structure over several kilometres long, and recent spodumene discoveries at Root Bay confirming it extends east and west along a magnetic high.”

GALAN LITHIUM (ASX:GLN)

Outstanding results from second long-term pump test at the Hombre Muerto West Project (HMW Project) in Catamarca Province, Argentina have been received.

The company’s long-term pumping test-work is delivering the targeted results while demonstrating the viability of its process design via successful site-based batch evaporation tests.

GLN managing director JP Vargas de la Vega says the original HMW pilot plant is also on track for the commencement of continuous production within six months.

“As our current technical evaluation work starts to culminate into the delivery of the DFS, we are also rapidly advancing our environmental impact assessment work, with both expected to be finalised during quarter one CY2023,” he says.

PAN ASIA METALS (ASX:PAM)

Final assays and weights have been reported for ore sorting test-work being conducted on drill core sample from the Reung Kiet Prospect (Reung Kiet) located in southern Thailand.

Results indicate 72.8% lithium recovery into 39.2% sample yield at an average grade of 0.92% Li2O while 60.8 % of the feed discarded as waste/low grade siltstone at an average grade of 0.22%, which is below the current mineral resource cutoff grade of 0.25% Li2O.

PAM says the lithium grade almost doubles from 0.50% Li2O in the feed to 0.92% Li2O in the sorted products.

“This means we will be processing a higher grade ore than that reflected in our mineral resource, which is a fantastic outcome,” PAM managing director Paul Lock says.

ARIZONA LITHIUM (ASX:AZL)

Arizona Lithium is fast-tracking a definitive feasibility study (DFS) for its Big Sandy Lithium project in Arizona , based on encouraging results of a scoping study, which identified fresh opportunities using new extraction technology.

AZL’s Lithium Research Centre in Tempe, Arizona, will be the base of operations for technology development and where test work is performed focusing on sustainability including alternative lixiviants and water conservation technologies.