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Eye on Lithium: ‘Unconventional’ — US researcher reckons oil and gas plays could produce lithium by-product

Pic: South_agency / E+ / E+ via Getty Images

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  • University of Houston says shale reservoirs could be a new source of lithium
  • Riversgold just nabbed another lithium tenement in the Pilbara
  • Zenith has recommenced drilling at its Waratah Well JV in WA

 All your ASX lithium news for Wednesday, May 18

 

The University of Houston’s has flagged the potential of petroleum-based rock brines as a new source of lithium.

It sounds paradoxical that producing oil and gas from shale reservoirs could actually help the world transition to cleaner energy sources, but UH’s Cullen College of Engineering assistant professor of petroleum engineering Kyung Jae Lee says her research on Pennsylvania’s Marcellus Shale play found that highly concentrated lithium was found in the water produced as a by-product during the extraction of oil and natural gas.

“We found lithium in the petroleum-based rock brines, which opens new pathways to address the shale plays as a substantial source of lithium, given that they are ubiquitous in the U.S.,” she said.

Lee is working with a Pennsylvania-based lithium processing company that is purchasing the produced water from the oil and gas companies operating in Marcellus Shale and extracting lithium from it.

“The U.S. has only one active brine mine to produce lithium so there’s a push to get critical minerals like lithium from unconventional or existing sources, that’s what we’re trying to figure out, so it’s timely research,” Lee said.

As a petroleum engineer, Lee is concerned about climate change and wants to use her academic and professional background to help with the energy transition.

“We want to use our knowledge of petroleum engineering to contribute to the clean energy transition by providing creative new solutions such as the one that we are pursuing in our research—harnessing critical minerals from natural petroleum systems,” she said.

 

Here’s how ASX lithium stocks were tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to emma.davies@stockhead.com.au

Code Company Price % Month % Week % Today Market Cap
TYX Tyranna Res Ltd 0.01 67% 67% 25% $10,498,885.34
RGL Riversgold 0.051 -32% 6% 24% $23,429,289.85
LRS Latin Resources Ltd 0.135 -33% 17% 23% $212,083,775.64
MM1 Midasmineralsltd 0.315 -10% 13% 19% $14,426,103.13
PAM Pan Asia Metals 0.525 -5% 13% 17% $33,146,389.80
DTM Dart Mining NL 0.07 -15% 15% 17% $7,469,455.80
ALY Alchemy Resource Ltd 0.025 39% 19% 14% $20,967,629.25
AOA Ausmon Resorces 0.009 -18% 13% 13% $6,858,314.74
EVR Ev Resources Ltd 0.043 -31% 0% 12% $35,650,386.73
EFE Eastern Resources 0.039 -22% 5% 11% $34,805,282.09
LSR Lodestar Minerals 0.01 -38% -9% 11% $15,645,936.13
AZL Arizona Lithium Ltd 0.155 -9% 7% 11% $312,580,689.68
WCN White Cliff Min Ltd 0.021 -36% -9% 11% $12,418,463.88
SYA Sayona Mining Ltd 0.2975 -13% 19% 10% $1,939,341,837.15
XTC Xantippe Res Ltd 0.011 -21% 0% 10% $76,830,568.99
MLS Metals Australia 0.1 -43% 11% 10% $38,440,265.14
EMS Eastern Metals 0.175 -10% 13% 9% $5,696,000.00
SRZ Stellar Resources 0.025 -17% 14% 9% $19,303,960.40
AS2 Askarimetalslimited 0.535 -22% 9% 8% $20,581,901.51
RDT Red Dirt Metals Ltd 0.49 -18% 21% 8% $137,188,324.46
LRD Lordresourceslimited 0.28 40% -2% 8% $8,004,001.46
WR1 Winsome Resources 0.445 -10% 11% 7% $56,030,807.51
1MC Morella Corporation 0.03 -12% 20% 7% $144,933,991.61
LRV Larvotto Resources 0.3 11% -10% 7% $11,538,100.00
ENT Enterprise Metals 0.015 -32% 7% 7% $9,025,055.97
GW1 Greenwing Resources 0.32 -26% -9% 7% $36,974,204.70
EUR European Lithium Ltd 0.082 -25% 0% 6% $106,484,349.97
AAJ Aruma Resources Ltd 0.082 -41% -1% 6% $12,086,035.73
MQR Marquee Resource Ltd 0.099 -21% 3% 6% $28,992,609.11
FFX Firefinch Ltd 0.965 -14% 8% 6% $1,074,931,331.11
PLL Piedmont Lithium Inc 0.8 -16% 5% 6% $398,315,954.00
LEL Lithenergy 1.265 27% -6% 6% $53,954,250.00
MMG Monger Gold Ltd 0.295 0% -16% 5% $7,000,000.00
WML Woomera Mining Ltd 0.021 -19% 5% 5% $13,736,661.32
GT1 Greentechnology 0.86 -10% 6% 5% $111,710,240.00
GSM Golden State Mining 0.065 -29% 7% 5% $6,436,508.42
NWM Norwest Minerals 0.045 -25% -6% 5% $7,766,117.64
SCN Scorpion Minerals 0.094 19% 19% 4% $29,864,807.28
ADV Ardiden Ltd 0.0125 -11% 14% 4% $32,020,024.27
ASN Anson Resources Ltd 0.125 -14% 19% 4% $123,349,480.20
CZL Cons Zinc Ltd 0.025 -17% 4% 4% $8,432,587.51
MIN Mineral Resources. 60.51 -2% 15% 4% $11,003,945,688.72
LPD Lepidico Ltd 0.028 -28% 8% 4% $173,059,644.56
KAI Kairos Minerals Ltd 0.028 -10% 4% 4% $52,976,524.26
LIT Lithium Australia 0.089 -19% 2% 3% $89,023,349.26
LPI Lithium Pwr Int Ltd 0.605 -28% -6% 3% $204,249,736.08
LTR Liontown Resources 1.315 -21% 6% 3% $2,795,087,127.45
QPM Queensland Pacific 0.165 -13% 14% 3% $246,898,100.96
BNR Bulletin Res Ltd 0.175 -20% 25% 3% $49,315,338.59
IMI Infinitymining 0.18 -3% 0% 3% $10,062,500.00
GLN Galan Lithium Ltd 1.465 -26% -1% 3% $433,769,090.85
ZNC Zenith Minerals Ltd 0.37 -8% 9% 3% $123,805,495.80
ESS Essential Metals Ltd 0.56 2% 11% 3% $133,967,941.12
LKE Lake Resources 1.5 -25% 6% 3% $1,932,948,789.42
A8G Australasian Metals 0.375 -27% -3% 3% $15,027,230.31
DRE Dreadnought Resources Ltd 0.038 -14% 3% 3% $105,031,291.39
AGY Argosy Minerals Ltd 0.4 -18% 5% 3% $528,355,160.58
PLS Pilbara Min Ltd 2.8 -5% 11% 3% $8,126,757,346.89
AKE Allkem Limited 12.36 -9% 13% 2% $7,690,156,517.16
GL1 Global Lithium 1.745 -23% 6% 2% $270,580,526.48
TMB Tambourahmetals 0.22 -19% -2% 2% $8,856,408.57
CRR Critical Resources 0.089 7% 19% 2% $129,422,325.78
IGO IGO Limited 11.15 -20% -2% 2% $8,261,791,839.83
ARN Aldoro Resources 0.25 -11% 6% 2% $24,307,329.31
QXR Qx Resources Limited 0.051 -34% -9% 2% $42,968,116.05
RIO Rio Tinto Limited 108.78 -10% 6% 2% $39,597,633,547.38
BMM Balkanminingandmin 0.27 -27% -4% 2% $8,678,750.00
PSC Prospect Res Ltd 0.9675 11% 3% 2% $414,837,158.35
TON Triton Min Ltd 0.0285 -11% 2% 2% $35,245,956.96
MRR Minrex Resources Ltd 0.057 -23% 10% 2% $56,488,068.50
KZR Kalamazoo Resources 0.325 -24% 5% 2% $46,462,199.68
PNN PepinNini Minerals 0.5675 -33% 4% 1% $34,407,679.04
CXO Core Lithium 1.31 -5% 15% 1% $2,243,397,295.58
NMT Neometals Ltd 1.36 -23% 9% 1% $737,566,252.62
JRL Jindalee Resources 3.94 -17% 6% 1% $223,777,967.40
VUL Vulcan Energy 7.37 -18% 3% 1% $963,642,058.80
MNS Magnis Energy Tech 0.4075 -12% 4% 1% $391,426,558.25
AVZ AVZ Minerals Ltd 0.78 -34% 0% 0% $2,752,409,203.44
BYH Bryah Resources Ltd 0.047 -16% -2% 0% $10,631,737.23
FG1 Flynngold 0.15 -12% 0% 0% $9,609,157.50
MMC Mitremining 0.145 -24% 0% 0% $3,927,339.50
SHH Shree Minerals Ltd 0.0105 -34% 5% 0% $12,833,487.37
TEM Tempest Minerals 0.066 -34% -7% 0% $33,297,495.59
TSC Twenty Seven Co. Ltd 0.004 0% 14% 0% $10,643,255.62
MTM Mtmongerresources 0.145 -24% -9% 0% $5,257,704.79
AVW Avira Resources Ltd 0.005 -17% 0% 0% $10,593,950.00
RMX Red Mount Min Ltd 0.008 -11% 0% 0% $13,138,910.86
VKA Viking Mines Ltd 0.009 -18% 0% 0% $9,227,325.88
IPT Impact Minerals 0.011 -19% 10% 0% $24,095,077.45
SRI Sipa Resources Ltd 0.04 -25% 0% 0% $8,200,992.12
RAS Ragusa Minerals Ltd 0.075 -17% 10% 0% $9,424,337.25
EPM Eclipse Metals 0.027 -27% 0% 0% $51,870,413.15
THR Thor Mining PLC 0.013 -19% 0% 0% $13,753,238.41
M2R Miramar 0.13 -30% 0% 0% $8,306,030.85
WMC Wiluna Mining Corp 0.565 -39% 0% 0% $119,392,943.93
AUN Aurumin 0.19 -5% 6% 0% $20,752,417.88
KTA Krakatoa Resources 0.082 -32% 5% 0% $28,266,213.19
CHR Charger Metals 0.585 -23% 1% -1% $19,222,810.65
INR Ioneer Ltd 0.525 -26% 3% -1% $1,108,388,692.60
AZI Altamin Limited 0.097 5% 0% -1% $38,388,241.70
MXR Maximus Resources 0.071 -15% 3% -1% $22,889,215.30
STM Sunstone Metals Ltd 0.057 -19% 2% -2% $149,317,892.24
G88 Golden Mile Res Ltd 0.056 -15% 12% -2% $11,612,759.00
EMH European Metals Hldg 0.99 -23% -8% -2% $142,184,734.65
AOU Auroch Minerals Ltd 0.09 -31% -3% -2% $33,239,765.51
RAG Ragnar Metals Ltd 0.041 -13% 5% -2% $15,652,765.34
NVA Nova Minerals Ltd 0.605 -30% 4% -2% $111,725,416.70
AML Aeon Metals Ltd. 0.038 -46% 3% -3% $36,767,596.63
CAI Calidus Resources 0.86 -16% 2% -3% $358,044,337.12
INF Infinity Lithium 0.135 -18% -7% -4% $58,076,121.74
RLC Reedy Lagoon Corp. 0.026 -21% 4% -4% $14,805,645.21
ZEO Zeotech Limited 0.052 -16% -4% -4% $82,345,435.38
LIS Lisenergylimited 0.595 -21% 17% -4% $102,866,795.94
VMC Venus Metals Cor Ltd 0.1775 -11% 11% -4% $27,949,556.36
AM7 Arcadia Minerals 0.215 -20% 8% -4% $7,873,312.50
FRS Forrestaniaresources 0.215 -38% -25% -4% $6,322,230.90
TKL Traka Resources 0.0085 -15% -6% -6% $6,198,971.05
WC8 Wildcat Resources 0.034 -3% 6% -6% $23,229,818.17
PGD Peregrine Gold 0.5 4% 22% -6% $20,291,934.57
AX8 Accelerate Resources 0.037 -44% -3% -8% $10,538,355.96
KGD Kula Gold Limited 0.033 -30% -11% -8% $7,746,322.75

 

A total of 77 stocks were in the green today, with 20 flatlining and only 24 in the red.

 

Who’s got news out today?

RIVERSGOLD (ASX:RGL)

The explorer has acquired another tenement prospective for lithium in the Pilbara, which CEO Julian Ford said is a “very important milestone for the advancement of our new lithium discovery objectives at Riversgold.”

“Our initial results at Tambourah have been impressive to date with lithium grades in pegmatite outcrop up to 2% Li2O, and we look forward to accelerating our exploration efforts here with the aim of drilling our key targets as soon as possible,” he said.

The tenement covers an area of 95.4km2 close to established lithium operations including Pilbara Minerals’ (ASX:PLS)Pilgangoora mine and Mineral Resources (ASX:MIN) and Albermale’s Wodgina mine.

A follow up field program will kick off in early June to determine lithium mineralisation potential of the remainder of the tenure.

 

ZENITH MINERALS (ASX:ZNC)

Zenith has recommenced drilling at the Waratah Well lithium project in WA.

The project is part of its joint venture with EV Metals Group. Initial drilling program has confirmed the presence of widespread lithium bearing pegmatite dykes over a 4km zone.

“This, coupled with the planned program to accelerate exploration activity at Split Rocks, demonstrates the continued commitment of our joint venture partner, EV Metals Group, to extensively explore across both our lithium projects pursuant to the agreement executed in January 2022,” executive chairman David Ledger said.

RGL, ZNC share price charts

 
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