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Eye on Lithium: Three explorers adjust their belts after lithium meals in WA
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- Oar Resources nabs two additional tenements at new lithium project
- Aruma confirms high lithium and rubidium grades at Mt Deans
- Lord Resources uncovers “Mt Marion style” lithium anomalies at Horse Rocks Project
All your lithium news, Wednesday November 23.
It’s been a lithium feeding frenzy on the bourse today with Oar Resources, Mitre Mining, and Infinity Mining securing additional ground.
Oar Resources (ASX:OAR) surged 20pc in early morning trade after finalising and receiving the remaining two tenement grants for its recently acquired ‘Denchi’ lithium project near Wiluna in WA.
While a third tenement was already granted at the time of the acquisition, OAR says these two remaining tenements allows the team to begin detailed exploration across the entire 217.7km2 project area.
OAR’s geological team have returned to the site for an extended and more detailed exploration program to firm up the presence of mineralised pegmatites, where historic lithium and rubidium anomalies, along with the presence of other minerals common in LCT pegmatites, were recorded in rock chips taken in 2019 by the previous owner.
The company plans to drill the project in 2023.
The ~$12.21m market cap explorer had $94,000 cash in the bank at the end of the September quarter.
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| MMC | Mitremining | 0.21 | 24% | $4,604,467 |
| PSC | Prospect Res Ltd | 0.1625 | 20% | $62,405,027 |
| GSM | Golden State Mining | 0.058 | 18% | $5,733,696 |
| IMI | Infinitymining | 0.34 | 17% | $18,304,438 |
| PNN | Power Minerals Ltd | 0.615 | 17% | $37,882,442 |
| LRD | Lordresourceslimited | 0.275 | 17% | $7,821,886 |
| RAS | Ragusa Minerals Ltd | 0.145 | 16% | $16,527,269 |
| LSR | Lodestar Minerals | 0.0045 | 13% | $6,953,749 |
| AX8 | Accelerate Resources | 0.029 | 12% | $8,086,721 |
| VMC | Venus Metals Cor Ltd | 0.155 | 11% | $24,931,016 |
| DRE | Dreadnought Resources Ltd | 0.1025 | 9% | $288,928,886 |
| AAJ | Aruma Resources Ltd | 0.085 | 9% | $12,242,997 |
| AOA | Ausmon Resorces | 0.0065 | 8% | $5,143,736 |
| WML | Woomera Mining Ltd | 0.014 | 8% | $12,214,596 |
| MTM | Mtmongerresources | 0.105 | 6% | $3,713,493 |
| RGL | Riversgold | 0.036 | 6% | $32,145,902 |
| INF | Infinity Lithium | 0.19 | 6% | $79,609,750 |
| BMM | Balkanminingandmin | 0.31 | 5% | $12,688,173 |
| LLL | Leolithiumlimited | 0.57 | 5% | $537,728,017 |
| A8G | Australasian Metals | 0.235 | 4% | $9,263,361 |
| KZR | Kalamazoo Resources | 0.25 | 4% | $35,716,650 |
| ALY | Alchemy Resource Ltd | 0.025 | 4% | $28,273,830 |
| CRR | Critical Resources | 0.056 | 4% | $80,650,169 |
| TMB | Tambourahmetals | 0.145 | 4% | $5,766,964 |
| TKM | Trek Metals Ltd | 0.088 | 4% | $30,935,332 |
| TYX | Tyranna Res Ltd | 0.03 | 3% | $69,757,334 |
| LEL | Lithenergy | 0.93 | 3% | $54,135,000 |
| ZNC | Zenith Minerals Ltd | 0.31 | 3% | $103,653,684 |
| WC8 | Wildcat Resources | 0.031 | 3% | $19,553,182 |
| IR1 | Irismetals | 1.865 | 3% | $113,541,300 |
| QPM | Queensland Pacific | 0.185 | 3% | $311,447,954 |
| LRV | Larvottoresources | 0.185 | 3% | $8,982,990 |
| RDT | Red Dirt Metals Ltd | 0.565 | 3% | $183,001,036 |
| PAM | Pan Asia Metals | 0.45 | 2% | $64,616,460 |
| VUL | Vulcan Energy | 7.36 | 2% | $1,032,014,167 |
| ASN | Anson Resources Ltd | 0.25 | 2% | $288,094,030 |
| EMH | European Metals Hldg | 0.76 | 2% | $88,714,066 |
| AM7 | Arcadia Minerals | 0.26 | 2% | $11,907,962 |
| CXO | Core Lithium | 1.4475 | 2% | $2,610,413,575 |
| LPI | Lithium Pwr Int Ltd | 0.53 | 2% | $203,424,586 |
| INR | Ioneer Ltd | 0.545 | 2% | $1,122,610,973 |
| GL1 | Globallith | 2.465 | 2% | $503,839,780 |
| NWM | Norwest Minerals | 0.055 | 2% | $11,993,799 |
| MIN | Mineral Resources. | 86.69 | 2% | $16,193,952,999 |
| QXR | Qx Resources Limited | 0.065 | 2% | $56,439,189 |
| AKE | Allkem Limited | 14.63 | 1% | $9,195,029,600 |
| ARN | Aldoro Resources | 0.35 | 1% | $38,808,124 |
| STM | Sunstone Metals Ltd | 0.0365 | 1% | $94,336,071 |
| CAI | Calidus Resources | 0.375 | 1% | $161,979,231 |
| LIS | Lisenergylimited | 0.395 | 1% | $64,706,533 |
| LKE | Lake Resources | 1.0475 | 1% | $1,439,994,164 |
| WES | Wesfarmers Limited | 48.62 | 1% | $54,628,422,860 |
| PLS | Pilbara Min Ltd | 4.965 | 1% | $14,763,531,308 |
| MNS | Magnis Energy Tech | 0.3675 | 1% | $354,170,991 |
| RIO | Rio Tinto Limited | 105.41 | 0% | $38,977,702,470 |
| LTR | Liontown Resources | 2.085 | 0% | $4,568,585,528 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| LPD | Lepidico Ltd | 0.017 | 0% | $129,842,111 |
| PLL | Piedmont Lithium Inc | 0.87 | 0% | $458,986,596 |
| RLC | Reedy Lagoon Corp. | 0.012 | 0% | $6,689,123 |
| SYA | Sayona Mining Ltd | 0.215 | 0% | $1,827,456,449 |
| BYH | Bryah Resources Ltd | 0.026 | 0% | $7,312,590 |
| DTM | Dart Mining NL | 0.069 | 0% | $10,712,951 |
| FG1 | Flynngold | 0.12 | 0% | $7,687,326 |
| FRS | Forrestaniaresources | 0.175 | 0% | $8,823,469 |
| TEM | Tempest Minerals | 0.027 | 0% | $13,628,687 |
| AZL | Arizona Lithium Ltd | 0.077 | 0% | $185,564,268 |
| AZI | Altamin Limited | 0.1 | 0% | $39,171,675 |
| ENT | Enterprise Metals | 0.01 | 0% | $6,529,807 |
| KAI | Kairos Minerals Ltd | 0.03 | 0% | $58,922,805 |
| PGD | Peregrine Gold | 0.46 | 0% | $17,825,869 |
| AVW | Avira Resources Ltd | 0.0035 | 0% | $7,468,265 |
| MQR | Marquee Resource Ltd | 0.054 | 0% | $17,151,349 |
| SRZ | Stellar Resources | 0.012 | 0% | $12,055,571 |
| VKA | Viking Mines Ltd | 0.01 | 0% | $10,252,584 |
| IPT | Impact Minerals | 0.0095 | 0% | $23,573,020 |
| G88 | Golden Mile Res Ltd | 0.023 | 0% | $4,705,564 |
| EVR | Ev Resources Ltd | 0.02 | 0% | $18,519,681 |
| THR | Thor Mining PLC | 0.009 | 0% | $9,925,951 |
| MM1 | Midasmineralsltd | 0.16 | 0% | $9,141,082 |
| M2R | Miramar | 0.096 | 0% | $6,785,447 |
| XTC | Xantippe Res Ltd | 0.007 | 0% | $57,016,609 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ZEO | Zeotech Limited | 0.037 | 0% | $59,737,715 |
| DAF | Discovery Alaska Ltd | 0.03 | 0% | $6,727,041 |
| FTL | Firetail Resources | 0.17 | 0% | $11,050,000 |
| DAL | Dalaroometalsltd | 0.115 | 0% | $3,435,625 |
| TUL | Tulla Resources | 0.4 | 0% | $80,237,094 |
| CMD | Cassius Mining Ltd | 0.03 | 0% | $12,112,227 |
| GLN | Galan Lithium Ltd | 1.53 | 0% | $467,514,767 |
| GT1 | Greentechnology | 1.105 | 0% | $211,719,616 |
| IGO | IGO Limited | 15.98 | 0% | $12,161,721,077 |
| CHR | Charger Metals | 0.585 | -1% | $25,727,561 |
| AGY | Argosy Minerals Ltd | 0.6325 | -1% | $898,820,799 |
| NMT | Neometals Ltd | 1.0375 | -1% | $580,378,235 |
| SCN | Scorpion Minerals | 0.08 | -1% | $27,030,202 |
| JRL | Jindalee Resources | 2.12 | -1% | $123,364,777 |
| GW1 | Greenwing Resources | 0.345 | -1% | $44,171,912 |
| KTA | Krakatoa Resources | 0.061 | -2% | $21,372,015 |
| OCN | Oceanalithiumlimited | 0.53 | -2% | $18,589,500 |
| LIT | Lithium Australia | 0.051 | -2% | $63,501,967 |
| MLS | Metals Australia | 0.048 | -2% | $29,744,773 |
| CY5 | Cygnus Gold Limited | 0.48 | -2% | $75,423,404 |
| EUR | European Lithium Ltd | 0.094 | -2% | $139,126,961 |
| AS2 | Askarimetalslimited | 0.44 | -2% | $22,202,605 |
| MRR | Minrex Resources Ltd | 0.043 | -2% | $47,675,835 |
| SRI | Sipa Resources Ltd | 0.043 | -2% | $9,987,380 |
| ESS | Essential Metals Ltd | 0.425 | -2% | $111,209,344 |
| EFE | Eastern Resources | 0.042 | -2% | $48,713,950 |
| AUN | Aurumin | 0.071 | -3% | $9,694,921 |
| WCN | White Cliff Min Ltd | 0.017 | -3% | $13,083,059 |
| KGD | Kula Gold Limited | 0.034 | -3% | $12,642,417 |
| LNR | Lanthanein Resources | 0.033 | -3% | $32,736,069 |
| WR1 | Winsome Resources | 1.06 | -4% | $153,111,223 |
| TON | Triton Min Ltd | 0.026 | -4% | $37,335,173 |
| LRS | Latin Resources Ltd | 0.13 | -4% | $271,073,324 |
| A11 | Atlantic Lithium | 0.895 | -4% | $563,339,744 |
| BNR | Bulletin Res Ltd | 0.12 | -4% | $36,573,888 |
| EMS | Eastern Metals | 0.105 | -5% | $4,297,085 |
| MXR | Maximus Resources | 0.041 | -5% | $13,712,948 |
| ADV | Ardiden Ltd | 0.0095 | -5% | $26,683,354 |
| EPM | Eclipse Metals | 0.018 | -5% | $38,460,880 |
| NVA | Nova Minerals Ltd | 0.71 | -5% | $137,745,956 |
| 1MC | Morella Corporation | 0.017 | -6% | $104,428,004 |
| SHH | Shree Minerals Ltd | 0.0085 | -6% | $11,146,382 |
| AML | Aeon Metals Ltd. | 0.031 | -6% | $36,181,221 |
| RAG | Ragnar Metals Ltd | 0.015 | -6% | $6,066,958 |
| LLI | Loyal Lithium Ltd | 0.545 | -8% | $27,810,300 |
| CZL | Cons Zinc Ltd | 0.021 | -9% | $10,647,193 |
| AOU | Auroch Minerals Ltd | 0.052 | -13% | $22,266,708 |
| TKL | Traka Resources | 0.006 | -14% | $4,821,422 |
| RMX | Red Mount Min Ltd | 0.005 | -17% | $9,854,183 |
| TSC | Twenty Seven Co. Ltd | 0.0015 | -25% | $10,643,256 |
54 lithium companies finished in the green, 38 were flat and 41 tumbled into the red zone.
Who else has got news out?
ARUMA RESOURCES (ASX:AAJ)
First assay results from AAJ’s recently completed drilling program at the Mt Deans Lithium-Rubidium Project near Norseman confirm high lithium and rubidium grades from the first two holes.
Hit include 7m at 2.03% lithium oxide (Li2O) and rubidium (Rb) from 26m, 9m at 1.23% Li2O + Rb and 5m at 1.05% Li2O+Rb.
AAJ says the pegmatite intersected in hole MDRC11 has a high Li2O and Rb2O content and can be identified as lepidolite rich.
Additional analysis of the mineralogy is in progress.
LORD RESOURCES (ASX:LRD)
Recently listed LRD has uncovered “Mt Marion style” lithium anomalies at its Horse Rocks project in WA.
Horse Rocks and Mt Marion (51.4Mt at 1.45% Li2O) share the same source granite within 8km of each other, LRD says.
Three priority 1 anomalies and four priority 2 anomalies have been identified. The most significant is 1.4km by 700m in size.
MITRE MINING (ASX:MMC)
MMC is adding to its critical minerals portfolio, buying early stage lithium projects in the Pilbara and Mt Ida regions.
The East Pilbara project has known pegmatite outcropping and high priority untested lithium stream sediment anomalies, the company says.
The unexplored Mount Alexander project is in the Mt Ida district near Red Dirt (ASX:RDT), Zenith Minerals (ASX:ZNC), and St George Mining (ASX:SGQ).
INFINITY MINING (ASX:IMI)
IMI has increased its portfolio in WA’s East Pilbara region to more than 960km2 by adding more than 250km2 of ground to its Tambourah South Lithium Project and adding a further 62 sub-blocks in three tenements at the Panorama Project.
The new ground at Tambourah South, which neighbours RiversGold (ASX:RGL) to the south, adds a further three sub blocks to the project and provide the potential for new lithium-caesium-tantalum (LCT) discovery.
Meanwhile, the new tenements at Panorama are highly prospective for shear-hosted gold systems, conglomerate-gold hosted system associated with the Mount Roe basalt, and Volcanogenic Hosted Massive Sulphide (VHMS) base-metal deposits.
OAR, AAJ, LRD, MMC, IMI share price today
PAN ASIA METALS (ASX:PAM)
Assay results for a further eleven holes completed at the Reung Kiet Lithium Project in southern Thailand have been received, demonstrating extensions at depth and along strike of the existing mineral resource.
PAM says the infill and extensional drilling is ongoing as it drills the remaining holes, RKDD095 and 096.
“Another set of pleasing results as we near the end of the drilling program,” PAM managing director Paul Lock says.
“We are on track for our 10,000tpa LCE for 10 years and our recent work at the Bang I Tum Lithium Prospect provides potential to push through this target.”
PAM share price today
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