Lithium Land: Arizona Lithium starts Big Sandy scoping study, CRR uncovers targets at Mavis Lake
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All your ASX lithium news in morning trade, Tuesday February 1.
The company has kicked off the scoping study — the first proper look at the economics of building a mine — on its flagship Big Sandy lithium project in the US.
The project has a total indicated and inferred JORC resource of 32.5 million tonnes grading 1,850 ppm Li for 320,800 tonnes Li2CO32 – which represents just 4% of the project area.
Because it is a very shallow, flat lying mineralised sedimentary lithium resource is surrounded by existing infrastructure, AZL reckons Big Sandy has the potential to be developed with a very low environmental footprint.
“Given the large existing JORC compliant lithium resource with excellent upside potential, AZL’s ability to produce a high quality product in Arizona, USA, in a market with rapidly increasing demand and price, along with quality infrastructure choice and proactive State and Federal Governments, presents a highly promising future for Arizona Lithium and its shareholders,” MD Paul Lloyd says.
Results from the airborne geophysical survey flown over CRR’s Mavis Lake lithium project in Canada have revealed “significant” new potential drill targets.
Interpretations of the data demonstrate the potential for continuity between the Pegmatite 6 and Pegmatite 18 prospects over around 3kms.
It’s an untested area and CRR plans to complete surface mapping and sampling to double down on the potential targets, with diamond drilling to follow.
“These results are a strong endorsement that the Mavis Lake property possesses what we interpret as the right geological setting to host significant pegmatite mineralisation,” MD Alex Biggs said.
We are well aware of the existing mineralisation at both the Pegmatite 6 and Pegmatite 18 prospects, but our plan is to demonstrate potential continuity, increasing both scale and exploration potential.”
As part of its plans to pivot focus to recycling lithium-ion batteries, Hannans has executed a Heads of Agreement with Greenhouse Investments providing it with right to expand its lithium battery recycling commercialisation activities into the United Kingdom, Ireland, Italy, and the Balkans.
The company’s sub-licenses and rights now cover territories incorporating 49% of the population of the EU and 38% of all motor vehicles registered in the EU, which it says gives it “tremendous leverage to the rapidly growing European LiB recycling sector, and specifically countries with the highest penetration rate of electric vehicles.”
Hannans executive director Damian Hicks says it’s abundantly clear that Europe needs a scalable, safe, and sustainable, lithium battery recycling solution.
“We believe the technology we will hold sub- licences to will help stakeholders in our licenced jurisdictions meet their circular economy ambitions and legal obligations to recycle,” he said.
“We are now focused on increasing Hannans business development activities and forming long-term mutually beneficial relationships with the European lithium battery supply chain participants.”
The company will raise up to $3.5m at 3.5 cents per share to fund activities in the new territories, and if shareholders approve the proposed transaction, Greenhouse will be issued 19.9% of Hannans’ consolidated capital base (pre capital raising).
In the December quarter the company said COVID restrictions meant community consultations for its flagship Solaroz project in Argentina were held up.
The required two community group meetings will be held in the near-term, with Lithium Energy planning to advance the necessary administrative processes for approval of the exploration works to begin this quarter.
The goal is to validate the exploration target of 1.5 to 8.7 million tonnes of contained Lithium Carbonate Equivalent (LCE) based on a range of lithium concentrations of between circa 500 mg/L Lithium (Li) and 700 mg/L Li.
Lithium Energy will also assess mine economic criteria with the goal of developing a pathway to the completion of feasibility studies – including completing a maiden mineral resource.
Sustained increases in the lithium price and improved economics of the lithium production process has enabled ASN to accelerate the engineering of the proposed lithium plant and focus on a stand-alone lithium plant as the first stage of the development of its Paradox lithium project in Utah, USA.
Results from long-term cycling test work for the production of NMC622-based lithium-ion battery test cells has also confirmed Anson’s lithium carbonate demonstrated enhanced performance compared to existing commercial products.
Worley has been appointed to perform Detailed Feasibility Study (DFS) for a lithium production plant with a final total-installed cost estimate enabling advancement to final design and construction phases.
Anson also increased the project area by 20% with additional 228 placer claims staked which increases the project footprint to 114km2 – with 45% of the area to be classified as inferred in an upgraded resource model.