• US kicks off Minerals Security Partnership with Canada and a bunch of other countries
  • Reedy Lagoon stakes another 192 placer claims at its Alvord project in Oregon
  • Assays from Critical Resources’ Canadian project have returned 7.66m at 1.5% Li2O

 All your ASX lithium news for Thursday, June 16.

 

The US, Canada and a bunch of other countries – including Australia, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the United Kingdom, the United States, and the European Commission – have established a new partnership to bolster critical mineral supply chains. 

The Minerals Security Partnership (MSP) aims to “ensure that critical minerals are produced, processed, and recycled in a manner that supports the ability of countries to realize the full economic development benefit of their geological endowments,” the US State Department says.

Demand for critical minerals – like nickel lithium and cobalt – which are essential for clean energy is projected to expand significantly in the coming decades.

The idea is that the MSP will help catalyse investment from governments and the private sector for strategic opportunities across the full value chain.

 

Six times more lithium needed by 2050

Massive amounts of these minerals will be needed to meet US emissions reduction goals, State Department under-secretary for economic growth, energy and the environment Jose Fernandez told Reuters.

“You will need six times more lithium by 2050 than you use today in order to meet the clean energy goals,” Fernandez said.

“[Canada] is an important supplier of critical minerals,” he added.

Speaking from the annual Prospectors & Developers Association of Canada conference, Canada’s natural resources minister Jonathan Wilkinson said critical minerals are “a generational economic opportunity for Canada if we get it right.”

He also noted that Canada has large deposits of nickel and cobalt, while the United States does not.

 

Here’s how ASX lithium stocks were tracking today:

Lithium stocks missing from our list? Shoot a friendly mail to [email protected]

 

A total of 87 stocks were in the green, 29 flatlined and only 12 were in the red.

 

Who’s got news out today?

 

REEDY LAGOON (ASX:RLC)

RLC has staked a further 192 placer claims over an area of 1,557 hectares to increase its Alvord project in the Northern McDermitt Caldera in Oregon, USA.

The additional ground staking is part of a deal which gives the Company access to several lithium targets generated by GoldPlay LLC in the area.

The areas staked by the the company coincide with the central axis of a rifted valley that post-dates the formation and collapse of the Northern McDermitt caldera – which is 25kms north west of the McDermitt Caldera where Lithium Americas Corp (NYSE:LAC) is evaluating the Thacker Pass lithium-clay deposit and Jindalee Resources Limited (ASX:JRL) is evaluating the McDermitt lithium- clay deposit.

At both of these deposits the primary source of lithium is the volcanic ash that has been deposited within a crater lake formed after a very large volcanic eruption and subsequent collapse of the caldera.

The ground staked by RLC, including the current staking under the deal with GoldPlay and the company’s earlier staking is in the outer margin of the Northern McDermitt caldera and coincides with a zone of high heat flow due to geothermal hot springs that are controlled by major north-south striking faults.

“The high heat flow and geothermal activity together with the wide distribution of volcanic ash from the eruption of multiple calderas over geologic time is seen as a favourable environment for the formation of lithium enriched brines and lithium clay deposits,” the company says.

RLC plans to carry out geochemical sampling of geothermal water and playa lake sediments and electrical geophysical surveys to determine the presence of brines in the sub-strata.

 

CRITICAL RESOURCES (ASX:CRR)

Assays from the company’s Mavis Lake project in Canad have returned 7.66m at 1.5% Li2O.

Additionally, 24 of 25 drill holes have intersected spodumene-bearing pegmatite including four additional holes which include 14.7m of pegmatite with spodumene mineralisation from 146 to 160.70m downhole.

The 5,000m drill program is now around 50% complete and planning is underway for an extension to approximately 10,000m.

 

AURORA ENERGY METALS (ASX:1AE)

Assays conducted on drill core from its 2011 drilling program at the company’s Aurora Energy Metals Project in Oregon, USA has confirmed widespread lithium intersections in sediments overlying the Aurora Uranium Deposit.

Best results include 9.1m at 2,414 ppm lithium from 21.9m, 7.3m at 2,431 ppm from 50.3m and 6.4m at 2,145 ppm from 25.6m.

The company says the results are comparable to Jindalee’s nearby McDermitt Lithium Project.

“It can be inferred that the lithium is shallow, flat-lying and easily mineable (possibly free-dig),” Aurora says, which bodes well for its upcoming lithium exploration program.

 

RLC, CRR and 1AE share price today: