• Three companies are listing next month with lithium prospective assets
  • FireFinch releases prospectus for Leo Lithium spinout
  • Tambourah applies for 34 new tenements prospective for gold and lithium

 

All your ASX lithium news for Friday, April 29

 

Three fresh companies are listing on the ASX in May with their eyes on a piece of the lithium pie.

Aurora Energy (ASX:1AE) is listing on the 16th and holds the Aurora Project in Oregon, USA.

The project hosts a defined uranium resource – and it’s prospective for lithium.

The company will conduct exploration and evaluation programs to assess the potential of both these minerals.

TG Metals (ASX:TG6) are also listing on the 16th, with a focus on assets prospective for nickel, lithium and gold in the Goldfields-Esperance region of WA.

Notably, TG6 actually holds the largest land package ever held by one company in the history of exploration within the Lake Johnston Greenstone Belt.

The company reckons the region has been historically overlooked and underexplored, with the Lake Johnston project never the main focus for nickel majors that previously held the ground.

And then there’s Oceana Lithium (ASX:OCN) set to list on the 27th.

The company has two lithium projects – the Solonopole Project in Brazil and the Napperby project in the NT.

Solonopole’s permits cover historic artisanal mining sites previously mined for lithium, Coltan (tantalum and niobium) and tin.

And Napperby is in the Pine Creek Pegmatite province – which hosts Core Lithium’s (ASX:CXO) Finniss project.

 

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 60 stocks were in the green, with 26 flatlining and 31 in the red.

 

Who’s got news out today?

FIREFINCH RESOURCES (ASX:FFX)

The company is demerging its Goulamina lithium project in Mali into a separate ASX entity to be called Leo Lithium – and released the prospectus for Leo today.

Earlier this month FireFinch announced the receipt of US$130m in cash from Ganfeng to formalise a joint venture to develop the project – which is expected to be one of the largest hard rock lithium projects in the world, with Stage 2 expansion expected to take its production profile up to an enormous 880,000tpa.

Notably, Ganfeng is a leading supplier of lithium to top tier battery producers and car makers such as BMW, LG Chem and Tesla.

Former Galaxy Resources managing director Simon Hay has been appointed the new Leo Lithium boss.

Firefinch shareholders will have the opportunity to vote on the demerger at the General Meeting on Tuesday, 31st May 2022, and if successful, will receive shares in Leo via an in-specie distribution with the parent company retaining a 20% stake in the new entity.

 

TAMBOURAH METALS (ASX:TMB)

The company has pegged 34 prospecting licence applications at Nullagine in WA – where no historic lithium exploration has occurred.

However, historic soil samples have indicated lithium sampling up to 40ppm.

The tenement applications cover 5,788ha and is 5km to the north of the the company’s Russian Jack Project which is prospective for lithium bearing pegmatite intrusions.

Tambourah plans to compile geological data and reprocess available geophysical data to prioritise areas for first pass field prospecting and mapping.

 

PIEDMONT LITHIUM (ASX:PLL)

The company released a statement today congratulating its partner Sayona Mining (ASX:SYA) who reported the discovery of a new southern lithium pegmatite zone at its Moblan lithium project in Quebec earlier this week.

Recent drilling returned 5m at 1.85% Li2O from 3.5m and 35m at 1.62% Li2O from 27.6m in hole DDH135, plus 6.6m at 1.69% Li2O from 2.1m and 27.2m at 1.53% Li2O from 22.0m hole DDH136.

Piedmont holds 16.5% in Sayona, and president and CEO Keith Phillips says the grade, thickness and shallow depth of the mineralisation in the first two drill holes are “very impressive.”

“While Piedmont is not directly invested in the Moblan project, we are very pleased with our position as Sayona’s largest shareholder and as Sayona’s partner in the world-class Abitibi Hub lithium projects,” he said.

“Quebec is an ideal location for lithium hydroxide production in the future, given the province’s abundant mineral resources, low-cost hydroelectricity, and supportive provincial government.”