• Aldoro completes Phase 1 RC drilling at Niobe project
  • Jindalee enters Prospect Ridge JV to focus on lithium projects
  • White Cliff to acquire Preston River lithium – just up the road from Greenbushes

All your small cap ASX  lithium news in morning trade, Thursday January 27.


Aldoro Resources (ASX:ARN)

The explorer has completed the Phase I RC drill program at the Niobe tantalum-lithium project in WA.

A total of 17 holes were drilled, all of which intersected thick pegmatite intervals at multiple levels below the surface.

The company says the hits confirm and extend historic results at the project, where high-grade tantalum ore was mined from a small open pit but the lithium potential of the area was largely ignored.

Standout intersections were NBRC008 with 21m of pegmatite from 36m downhole, and NDRC009 with 14m of pegmatite from 40m downhole, ending in pegmatite.

There are still forty-seven holes to be drilled at the project, with Aldoro aiming to estimate a JORC 2012 reportable mineral resource once all assays have been received.

The RC rig will then mobilise to the Wyemandoo Project, where an extensive greenfields drill program is planned.


Jindalee Resources (ASX:JRL)

Jindalee has sold 70% of its Prospect Ridge project in Tasmania to Tasmanian Magnesium Pty Ltd, a subsidiary of GWR Group (ASX:GWR) for $1 million.

It’s part of the company’s strategy to focus on its McDermitt lithium project in the USA, and the Widgiemooltha nickel-gold-lithium project in WA.

It’s not a bad deal, freeing up the company’s focus while its subsidiary HiTec Minerals Pty Ltd’s 30% is free carried to Decision to Mine.

Tasmanian Magnesium is required to spend a minimum of $2 million and complete a scoping study within 5 years – otherwise the 70% reverts to HiTec.




White Cliff Minerals (ASX:WCN)

The  company’s December quarterly report detailed the acquisition (subject to shareholder approval) of Magnet Resources and Preston River Lithium – which hold prospective lithium and rare earth elements (REE’s) projects covering 1,075km2 in WA.

The Preston River tenement is only 30 kilometres north of the Greenbushes tin-tantalum-lithium field in similar geological terrane.

“It would therefore seem to be logical that the area is prospective for Greenbushes – type tin – tantalum – lithium mineralisation,” the company said.

“The area has had only minimal previous exploration indicating considerable potential for mineralised pegmatites.”

The company also recently applied for tenements at Yinnetharra (~574km2) and Diemals (~2,430km2), which combined with the acquisitions means it will hold over 4,000km2 of highly prospective lithium and rare earth tenure.

In the Yinnetharra region, lithium bearing pegmatites have been identified in the nearby Thirty Three Supersuite – and Arrow Minerals (ASX:AMD) uncovered rockchip results of up to 3.77% Li2O at their Reid Well prospect at the nearby Malinda Lithium project.


Lepidico (ASX:LPD)

Advanced project developer Lepidico has completed most of the FEED work for the Phase 1 Karibib concentrator in Namibia during the quarter, and has resumed drilling to expand the mineral resource base of 11.24 Mt at 0.43% Li2O.

The company has upgraded its pilot plant in Perth to a demonstration facility operating at over 30kg/hr and successfully completed the L-Max leach trial.

Lapidico also flagged that Benchmark Mineral Intelligence raised its base case long-term lithium hydroxide price forecast by 16% from the US$12,910/t employed in the May 2020 Phase 1 DFS to US$14,927/t.

BMI also published a Bullish Case long-term price forecast of US$17,015/t, forecasting that prices will continue to rise to significantly higher levels than previous predicted between 2023 and 2025.

The company said it this means significantly enhanced economics based on Phase 1 DFS assumptions – which will be revised when FEED works complete.

Also during the quarter, a binding offtake agreement was signed with Traxys for 100% of annual lithium hydroxide production (c.5,000tpa) from Phase 1 for seven years.

The agreement includes Traxys acting as agent for caesium sulphate solution (c.400tpa), with scope to be expanded to other products by mutual agreement.