Oceana has underscored its belief in the prospectivity of its Solonópole project area in Brazil’s Ceará state by acquiring the N Green lithium exploration permits.

The acquisition of the permits, which cover 10km2, takes the company’s total Solonópole landholding up to 124km2.

Oceana Lithium (ASX:OCN) notes that the expanded tenement positions hosts multiple drill-ready lithium exploration targets, which leads quite neatly to the mobilisation of its drilling contractor Servdrill to site.

Servdrill will commence a 3,000m reverse circulation scout drilling program within the next week to test near-surface lithium mineralisation including at the Bom Jesus de Baixo pegmatite target where high-grade assays of up to 3.61% Li2O spodumene have been returned.

The company has issued the vendor with 1.6 million shares as consideration for the acquisition.

Brazilian lithium drilling

The drilling at Bom Jesus de Baixo will mark the first time that drilling is carried out at the pegmatite.

Grab samples collected from the prospect had returned grades up to of up to 1.87% in weathered spodumene, 3.09% Li2O in amblygonite and 3.61% in lepidolite.

While not necessarily representative of the grade across the whole pegmatite, the results are nonetheless intriguing and have clearly marked Bom Jesus de as a priority target.

Three linear outcrops have been identified over an east-west strike length of more than 500m with drilling to determine if they are linked.




This article was developed in collaboration with Oceana Lithium, 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.