The company has the option to acquire the Ransko nickel-copper-cobalt project and the Otoc lithium project. Pic via Getty Images.
NickelX eyes advanced nickel and lithium projects with easy access to Central Europe’s Gigafactories
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NickelX has executed an exclusive option to acquire an advanced nickel and advanced hard rock lithium exploration project in Central Europe, in close proximity to where 27 lithium battery Gigafactories are planned for 2030.
The Ransko nickel-copper-cobalt project covers 6.93km2 and hosts significant Ni-Cu-Co mineralisation defined by historic mapping, sampling, geophysics, limited vertically oriented drilling and exploration shafts and adits.
No modern exploration techniques and resource modelling have been undertaken since the mid-1960’s but the project contains a rich historical dataset from 7 known sulphide deposits.
Ransko is also one of the beneficiaries of the EU €7.5 million Funded SEMACRET Project which aims to promote exploration for Critical Raw Materials in the EU, securing the continued supply for the EU market.
The Otov lithium project covers 18.1km2 and hosts significant spodumene mineralisation defined by mapping and sampling of underground workings from limited historical feldspar mining at the Otov1 pegmatite.
The Otov1 pegmatite deposit is one of 17 mapped pegmatites in the permit area which have not been the subject of modern exploration techniques.
Perfect time to pick up European projects
The option to acquire the projects comes as demand continues to accelerate for lithium-Ion battery minerals, with nickel-copper-cobalt and lithium comprising around 34% of minerals consumed in the production of lithium-ion batteries, used in Electric Vehicles (EV’s) and Electric Storage System’s (ESS).
And the EU is pushing to become more self-reliant on mining for nickel, copper, cobalt, and lithium, with the recent adoption of the EU Critical Raw Materials (CRM) Act in March.
Plus the EU Green Deal which aims to allocate €1 Trillion of funding to combat climate change and €40B to transition fossil fuels to green energy, which would including investments in nickel, copper, cobalt and lithium exploration, mining and processing.
“We are very excited to have secured the option to acquire, explore and develop the large-scale Ni-Cu-Co mineralisation at Ransko, as well as the highly prospective Otov1 LCT pegmatite, which was historically only mined for Feldspar, which is 1 of the 17 known LCT pegmatites, and where large spodumene crystals, up to 70cm, are reported,” NickelX (ASX:NKL) MD Matt Gauci said.
“Should we decide to exercise the option, the company will formalise an existing exploration partnership with Aurum Discovery Limited, a highly respected European based exploration consultancy, with in-country representation, to ensure efficient operations, ongoing stakeholder engagement and progression of the existing EU Funded SEMACRET Project, which aims to promote exploration for Critical Raw Materials in the EU.”
Right on the doorstep of Gigafactories
European demand for lithium alone is forecast to grow from 50,000t/year LCE in 2020 to 800,000+ t/year LCE by 2030 (a 16X increase) and demand for lithium hydroxide is expected to grow strongly on the back of increased nickel-based battery chemistry applications – as nickel-based batteries provide superior cold weather performance and energy density.
And with that demand, comes the need for Gigafactories – with 27 planned to be built before the end of the decade.
“It is an unprecedented time for energy transition in Europe with the passing of the EU Critical Raw Materials (CRM) Act and the adoption of the EU Green Deal, transforming the requirement for and funding of, exploration, development and mining of critical minerals,” Gauci said.
“These critical minerals are well demonstrated within both the Ransko and Otov projects.
The projects are exceptionally well located, almost on the doorsteps of 27 lithium battery Gigafactories in Europe planned for 2030.
“Ransko and Otov are within a c.500km radius of these Gigafactories and there is also potential for Volkswagen (VW) (and Czech based subsidiary Skoda Auto) to build a Gigafactory within the Czech Republic.”
This article was developed in collaboration with NickelX Limited, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
