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Great Australian Lithium Rush","the-great-australian-lithium-rush","article/the-great-australian-lithium-rush",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":1175,"featured":50,"reporter":1176,"_editable":1180,"component":1181,"seo_title":553,"categories":1182,"visibility":1191,"author_company":49,"featured_image":1192,"seo_description":1175,"author_full_name":49,"author_job_title":49,"formattedDate":1197,"formattedArticleDate":1198},"cd5881f9-cd60-4fb4-89a7-13c2f9965563","2016-07-21 00:00",[560],{"slug":561,"name":562},"australia","Australia",[564],{"slug":565,"name":566,"content":567},"matthew-bird","Matthew Bird",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Senior Editor - Supply Chains & Data Visualisation",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":574,"content":575},"doc",[576,586,593,600,607,614,621,626,631,636,641,646,649,654,659,664,669,674,679,684,689,694,699,704,709,714,719,724,729,734,739,744,749,754,759,764,771,774,779,784,789,794,799,804,809,814,819,824,829,832,837,842,847,852,857,862,867,872,877,882,887,892,897,902,907,912,917,922,927,932,937,942,947,952,957,962,967,972,977,982,987,992,997,1002,1007,1012,1017,1022,1027,1032,1037,1042,1047,1052,1057,1062,1067,1070,1075,1080,1085,1090,1095,1100,1105,1110,1115,1118,1123,1128,1133,1138,1141,1146,1151,1156,1161,1172],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582,"marks":583},"While lithium was the flavour of 2009, this time it is much more significant.","text",[584],{"type":585},"italic",{"type":577,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":582,"marks":591}," In a world where nearly all commodities are in the doldrums, lithium has been a rare, bright investment opportunity that is underpinned by a real demand story – the energy storage revolution.",[592],{"type":585},{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582,"marks":598}," The market potential for lithium ion batteries is vast, but the lithium industry has not yet evolved to the requirements of the market.",[599],{"type":585},{"type":577,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":582,"marks":605}," In short, more lithium supply is needed and in 2016 Australian explorers have reacted first to capitalise.",[606],{"type":585},{"type":577,"attrs":608,"content":609},{"textAlign":49},[610],{"text":611,"type":582,"marks":612}," From the known lithium producing region in Western Australia to Northern Territory, New South Wales and Tasmania, the search for economically viable lithium deposits is well under way. And despite common belief, it is not just limited to hard rock sources.",[613],{"type":585},{"type":577,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":582,"marks":619}," Cameron Perks reviews the frenzy of activity in the region as Australia seeks to cement its position as the world’s leading source of lithium feedstock.",[620],{"type":585},{"type":577,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":582},"Australia is leading the world’s exploration for lithium.",{"type":577,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":582},"A ripple of interest 12 months ago has now turned into a surge of exploration to find the next significant lithium resource. The Australian Stock Exchange has seen the field of lithium explorers double in Q2 2016 alone, all of which are new companies making a bid to find the new Greenbushes resource.",{"type":577,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":582},"Greenbushes is the world’s largest hard rock mine – a more simplified term for a lithium locked in spodumene mineralisation hosted in a pegmatite ore. Operated by Talison Lithium, the mine was the source for 41% of the world’s lithium output in 2015 (measured in lithium carbonate equivalent or LCE), according to Benchmark Mineral Intelligence data.",{"type":577,"attrs":637,"content":638},{"textAlign":49},[639],{"text":640,"type":582},"While Australia does not actually produce any lithium carbonate or hydroxide – the industry’s two primary products used in a variety of products from batteries, ceramics, glass and industrial grease – it is the strategic source for the vast majority of China’s lithium industry.",{"type":577,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":582},"Therefore, it is unsurprising that Talison Lithium is majority owned by the leading Chinese producers, Sichuan Tianqi Lithium Industries Inc which hold a 51% stake to Albemarle Corp’s 49%, the largest diversified producer in the US.",{"type":577,"attrs":647,"content":648},{"textAlign":49},[],{"type":577,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":582},"The ownership structure of such a strategic source of lithium underpins why Australia is central to the world’s rush to secure lithium resources for the energy storage revolution that is beginning to take shape.",{"type":577,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":582},"And it is an issue that has always pitted hard rock, spodumene sources versus the traditionally lower cost, brine sources.",{"type":577,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":582},"Chile is the world’s leading producer of lithium from brine and, unlike Australia, produces direct lithium carbonate and hydroxide.",{"type":577,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":582},"Chile and Australia (together with China) are in a league of their own when it comes to lithium production.",{"type":577,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":582},"But progress has not always been easy for Australian spodumene projects since a handful began development in the late2000s in what was the first global lithium rush.",{"type":577,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":582},"Galaxy Resources is one such company that is now enjoying a surge in share price, new investments and high demand for newly produced spodumene concentrate from its Mt Cattlin operation.",{"type":577,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":582},"However, in 2012, the Mt Cattlin mine in Western Australia was put into care and maintenance due to low lithium prices, a strong Australian dollar, and an uneconomic operating cost base. This was despite raising significant funds in the previous three years and building a lithium carbonate plant in China.",{"type":577,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":582},"But the world is a different place now.",{"type":577,"attrs":690,"content":691},{"textAlign":49},[692],{"text":693,"type":582},"The price of lithium carbonate has surged four-fold within China and increased three fold in the rest of the world in H1 2016, with Benchmark believing the fundamental demand shift in the market is set to support stronger prices for the next 3 years.",{"type":577,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":582},"As a result, the outlook for Galaxy Resources and all new lithium entrants has changed.",{"type":577,"attrs":700,"content":701},{"textAlign":49},[702],{"text":703,"type":582},"In Q2 2016, Galaxy announced that they had recommenced extraction at Mt Cattlin.",{"type":577,"attrs":705,"content":706},{"textAlign":49},[707],{"text":708,"type":582},"The Mt Cattlin mine, with 16m tonnes of ore at 1.08% lithium and 5.7m pounds of tantalum, has secured offtake of 60,000 tonnes of spodumene to Chinese customers in 2016 and 120,000 tonnes in 2017.",{"type":577,"attrs":710,"content":711},{"textAlign":49},[712],{"text":713,"type":582},"Neometals is another company that has benefitted greatly from the surge in lithium demand.",{"type":577,"attrs":715,"content":716},{"textAlign":49},[717],{"text":718,"type":582},"Its flagship project, Mount Marion is located near Kalogoorlie in central southern Western Australia, contains 23.24m tonnes spodumene grading at an average of 1.39% Li2O. Neometals began developing Mount Marion since 2009, and has recently announced that they began mining.",{"type":577,"attrs":720,"content":721},{"textAlign":49},[722],{"text":723,"type":582},"“It normally takes 7 years from discovery to mining and cashflow,” Chris Reed, Managing Director of Neometals explained to Benchmark.",{"type":577,"attrs":725,"content":726},{"textAlign":49},[727],{"text":728,"type":582},"“There are multiple dilution events [that slows the start-up process including] resource definition, preliminary economic assessment, and financing,”",{"type":577,"attrs":730,"content":731},{"textAlign":49},[732],{"text":733,"type":582},"Pilbara has seen the largest surge in share price over the last 12 months rocketing from a low base of A$0.04 to A$0.8 and now settling at A$0.67. The company has gone from unknown status to being one of the leading pack.",{"type":577,"attrs":735,"content":736},{"textAlign":49},[737],{"text":738,"type":582},"Australia is not associated with brine production, but with lithium brines presenting a long term low-cost production option, it may not be surprising to learn that Australia’s Adelaide Resources Ltd has begun testing salt lakes in South Australia for lithium.",{"type":577,"attrs":740,"content":741},{"textAlign":49},[742],{"text":743,"type":582},"Adelaide’s exploration license application at Lake Gilles covers an area of 232km2 on the Eyre Peninsula in South Australia, which has been identified by Geoscience Australia as having potential to host lithium.",{"type":577,"attrs":745,"content":746},{"textAlign":49},[747],{"text":748,"type":582},"Adelaide’s share price has doubled since February, providing an illustration into just how much investors are paying attention to the lithium sector.",{"type":577,"attrs":750,"content":751},{"textAlign":49},[752],{"text":753,"type":582},"With a strong price outlook, it is no wonder as to why many companies are jumping into lithium.",{"type":577,"attrs":755,"content":756},{"textAlign":49},[757],{"text":758,"type":582},"Since Q1, the field of explorers has at least doubled, with 30 companies looking for or involved with lithium in Australia, and 11 more looking outside of Australia on the ASX alone. Another 13 are looking on the TSX, primarily in North America, with attempts to take advantage of Tesla’s Gigafactory location and future demand.",{"type":577,"attrs":760,"content":761},{"textAlign":49},[762],{"text":763,"type":582},"Here, the focus is on what has been discovered in Australia and what has been developed to date.",{"type":765,"attrs":766,"content":768},"heading",{"level":767,"textAlign":49},3,[769],{"text":770,"type":582}," Western Australia",{"type":577,"attrs":772,"content":773},{"textAlign":49},[],{"type":577,"attrs":775,"content":776},{"textAlign":49},[777],{"text":778,"type":582},"In Q2 2016, Galaxy announced that they had recommenced extraction at Mt Cattlin (subject to 50% earn in by General Mining Corp. Ltd).",{"type":577,"attrs":780,"content":781},{"textAlign":49},[782],{"text":783,"type":582},"The Mt Cattlin mine, with 16m tonnes of ore at 1.08% lithium and 5.7m pounds of tantalum (Ta2O5), has secured offtake of 60,000 tonnes of spodumene to Chinese customers in 2016 and 120,000 tonnes in 2017.",{"type":577,"attrs":785,"content":786},{"textAlign":49},[787],{"text":788,"type":582},"In addition to recommencing mining, the company has restarted their lithium and tantalum processing operations in the same month, with maiden shipment of material aimed for Q3 2016.",{"type":577,"attrs":790,"content":791},{"textAlign":49},[792],{"text":793,"type":582},"Galaxy also holds the James Bay lithium pegmatite project in Canada, as well as the lithium brine project called Sal de Vida, located in Argentina. It is expected that cash flow from their mining operation in Australia will help Sal de Vida move forward in the medium term.",{"type":577,"attrs":795,"content":796},{"textAlign":49},[797],{"text":798,"type":582},"Lithium Australia NL (previously known as Cobre Montana NL) owns exploration licenses around the Greenbushes mine (80% LIT, 20% private), and in the Cocanarup pegmatite field (100%), southwest of Ravensthorpe, near Galaxy Resources’ Mount Cattlin mine.",{"type":577,"attrs":800,"content":801},{"textAlign":49},[802],{"text":803,"type":582},"Lithium Australia also owns tenements near Kalgoorlie at Coolgardie (Lepidolite Hill) known as the Coolgardie Rare Metals Venture (80% LIT and 20% Focus Minerals (FML)), as well as in the Pilgangoora area, where the company is exploring for lithium in mica ore, rather than spodumene in conjunction with Pilbara Minerals (PLS). LIT also has tenure in the Bynoe pegmatite field in Northern Territory.",{"type":577,"attrs":805,"content":806},{"textAlign":49},[807],{"text":808,"type":582},"In February, Lithium Australia joined forces with Venus metals in the Pilgangoora area to test lithium carbonate and lithium hydroxide potential. LIT also holds an alliance Cazaly Resources in the Kalgoorlie area.",{"type":577,"attrs":810,"content":811},{"textAlign":49},[812],{"text":813,"type":582},"Lithium Australia is also the owner of a process known as ‘Sileach’, which is undertaken at low temperatures and atmospheric pressures to achieve a low energy, environmentally friendly, low-cost extraction of metals, in particular lithium, from silicate minerals. The Sileach process is universal for all lithium silicate ore, including micas, clays and spodumene.",{"type":577,"attrs":815,"content":816},{"textAlign":49},[817],{"text":818,"type":582},"Mount Marion, located near Kalogoorlie in central southern WA, contains 23.24m tonnes spodumene grading at an average of 1.39% Li2O, according to the project’s JORC compliant resource estimate – with expansion drilling ongoing. The deposit is jointly owned by Neometals Ltd (26.9%), Mineral Resources Ltd (operator, 30%) and Ganfeng Lithium Co. Ltd, China’s second largest lithium producer (43.1%). Ganfeng increased its stake from 25% on 3 February this year, taking shares from Neometals Ltd through an option agreement exercised early.",{"type":577,"attrs":820,"content":821},{"textAlign":49},[822],{"text":823,"type":582},"Mount Marion has an offtake agreement in place, with Ganfeng agreeing to purchase 100% of the 200,000 tonnes per annum of 6% Li2O spodumene product and 80,000t of 4% Li2O product for the life of the mine, the second agreement is subject to certain conditions, with commissioning of the mine set to begin in the second half of-2016. Ganfeng Lithium achieved RMB 1.4 billion and over 20 thousand tonnes LCE in sales in 2015, leading some lithium commentators to suggest their success will lead them to a takeover of Neometals.",{"type":577,"attrs":825,"content":826},{"textAlign":49},[827],{"text":828,"type":582},"Neometals also has plans to build its own downstream processing plant overseas with a JV partner within the next three years. The plan has garnered support from the Malaysian authorities, offering fiscal incentives to attract domestic production of lithium compounds, according to Simon Hicks, Neometals’ manager of stakeholder relations.",{"type":577,"attrs":830,"content":831},{"textAlign":49},[],{"type":577,"attrs":833,"content":834},{"textAlign":49},[835],{"text":836,"type":582},"While focused on Australia, Neometals is also in an agreement with Hannans Reward Limited to provide them knowledge and technical assistance to advance their European projects.",{"type":577,"attrs":838,"content":839},{"textAlign":49},[840],{"text":841,"type":582},"Pilbara Minerals has a 29.5m tonne ore reserve at its 100% owned Pilgangoora Lithium-Tantalite project near Port Headland, grading at 1.31% Li2O and 134ppm Ta2O5.",{"type":577,"attrs":843,"content":844},{"textAlign":49},[845],{"text":846,"type":582},"The mine reserve underpins an initial mine life of 15 years at a rate of 2m tpa mining and has outlined potential for future production increases to 3m tpa to meet projected battery demand growth.",{"type":577,"attrs":848,"content":849},{"textAlign":49},[850],{"text":851,"type":582},"The initial metallurgical testwork completed by Pilbara confirms the ability to produce a 6% or greater spodumene concentrate, with estimated Li2O recovery of 77%. In addition, Pilbara has signed 8 memorandums of understanding with what the company calls leading chemical and technical grade customers, for 100% of the forecasted mine production capacity.",{"type":577,"attrs":853,"content":854},{"textAlign":49},[855],{"text":856,"type":582},"Pilbara Minerals also has an agreement with Lithium Australia, where it is to review the commercial lithium potential of the Pilbara Minerals ground with a view to exploit mineralisation dominated by lithium micas and clays, particularly where they are associated with spodumene.",{"type":577,"attrs":858,"content":859},{"textAlign":49},[860],{"text":861,"type":582},"It is expected that production for Pilbara Minerals’ flagship Pilgangoona project will commence in 2018.",{"type":577,"attrs":863,"content":864},{"textAlign":49},[865],{"text":866,"type":582},"Altura released a feasibility study in April this year which found that the 18.47m tonnes of ore contained at their Pilgangoona lithium project could produce 2.744m tonnes of spodumene concentrate. Lithium in the resource is concentrated at 1.07% Li2O.",{"type":577,"attrs":868,"content":869},{"textAlign":49},[870],{"text":871,"type":582},"Altura has estimated that the project has a net present value of $382m over an initial 12+ year min life based on the current ore reserves. The company also calculated a life of mine cash cost of A$298 per tonne of spodumene concentrate, a variance of about 8% from their mining study’s estimate of A$320 per tonne. A definitive feasibility study is due for completion in Q3 2016.",{"type":577,"attrs":873,"content":874},{"textAlign":49},[875],{"text":876,"type":582},"In April, the company announced the attainment of their first binding offtake agreement with Chinese based group Lionergy Ltd. The offtake agreement is for a minimum 100,000 tonnes of 6% Li2O chemical grade spodumene concentrate per annum over a five-year period.",{"type":577,"attrs":878,"content":879},{"textAlign":49},[880],{"text":881,"type":582},"Altura plans to expand metallurgical testing and geotechnical database through further drilling programs after a recent acquisition of tenements from Altas Operations in a nearby area.",{"type":577,"attrs":883,"content":884},{"textAlign":49},[885],{"text":886,"type":582},"Production is planned for Q3 2017 after a nine-month construction period which will place Altura in an elite group of near term lithium supply companies.",{"type":577,"attrs":888,"content":889},{"textAlign":49},[890],{"text":891,"type":582},"Cazaly is a recent entrant to the lithium exploration industry – generating a new project in the goldfields of Western Australia in April this year, located adjacent to previously-mined pegmatites averaging 2.5% Li2O.",{"type":577,"attrs":893,"content":894},{"textAlign":49},[895],{"text":896,"type":582},"Cazaly’s tenements, named Kangaroo Hill, adjoin Lithium Australia’s Coolgardie Rare Metals Venture, where a number of rare element, zoned, pegmatite intrusion have been sporadically mined since the 1920s, primarily as a source of feldspar for the ceramic and glass industries but also for lithium minerals including petalite and lepidolite.",{"type":577,"attrs":898,"content":899},{"textAlign":49},[900],{"text":901,"type":582},"Cazaly was added to the list of explorers that have joined forces with Lithium Australia in May, with an equally split regional alliance signed to combine their respective holdings for the exploration and development of lithium minerals in the Goldfields region of Western Australia.",{"type":577,"attrs":903,"content":904},{"textAlign":49},[905],{"text":906,"type":582},"The alliance grants Cazaly 50% of Lithium Australia’s rights to the Coolgardie Rare Metals Venture. The company has also granted a Sileach licence to the alliance for application for Lithium Australia’s processing technology to projects within the Coolgardie venture.",{"type":577,"attrs":908,"content":909},{"textAlign":49},[910],{"text":911,"type":582},"Cullen Resources Ltd has 4 strategic projects located in Western Australia – two in the Pilbara region, and two in the south-east and south-west of the Greenbushes mine. Timetabling for fieldwork will commence in early Q3, noting that at this stage all Cullen tenement interests are applications only.",{"type":577,"attrs":913,"content":914},{"textAlign":49},[915],{"text":916,"type":582},"Dakota Minerals’ Lynas Find lithium project is located adjacent to and along strike from Pilbara Minerals’ and Altura Mining’s Pilgangoora deposits, which constitute the second largest hard rock lithium deposit in the world.",{"type":577,"attrs":918,"content":919},{"textAlign":49},[920],{"text":921,"type":582},"Initial drilling results by Dakota include 35m @ 2.14% Li2O from high grade",{"type":577,"attrs":923,"content":924},{"textAlign":49},[925],{"text":926,"type":582},"spodumene-bearing pegmatites, with a weighted average of over 1.7% Li2O in the first drill programme of 26 holes. A followup programme is about to commence to define a maiden resource at Lynas Find.",{"type":577,"attrs":928,"content":929},{"textAlign":49},[930],{"text":931,"type":582},"The company has also identified multiple additional pegmatites in the vicinity grading >1% Li2O. In May, Dakota raised A$12.3m in an oversubscribed placement of 61.6m ordinary shares, and has a current cash position of A$15.2m.",{"type":577,"attrs":933,"content":934},{"textAlign":49},[935],{"text":936,"type":582},"In April, Exterra was granted an exploration license in the Pilbara region, named the Moolyella Lithium Project. The project also garnered enough attention for the company to raise A$500,000 in the same month.",{"type":577,"attrs":938,"content":939},{"textAlign":49},[940],{"text":941,"type":582},"Commencement of exploration activities for 2016 are planned to be undertaken this quarter, including surface sampling and aircore/RC drilling.",{"type":577,"attrs":943,"content":944},{"textAlign":49},[945],{"text":946,"type":582},"While Kidman Resources holds a ~1m ounce gold project at Mt Holland, it has had strong interest from local and offshore companies in respect to its lithium potential. In light of this, the gold miner has begun a technical review into the potential of the Mt Holland’s pegmatites, which are known to contain spodumene.",{"type":577,"attrs":948,"content":949},{"textAlign":49},[950],{"text":951,"type":582},"In March, Krakatoa announced it had acquired 100% of the Dalgaranga TantalumNiobium Lithium Project located in Western Australia. Krakatoa’s project is unlike many of its competitors in that the primarily lithium component of the ore is Zinnwaldite (a type of mica). The site has seen approximately 6 tonnes of Ta2O5 produced between 2001 and 2003. The company plans to compile existing data, including the reprocessing of available geophysical data during the June 2016 quarter.",{"type":577,"attrs":953,"content":954},{"textAlign":49},[955],{"text":956,"type":582},"Lithex Resources holds a set of 4 lithium, tin, tantalum and rare earths tenements, covering a total of 40km2 located in the Pilbara and Southern Regions of WA.",{"type":577,"attrs":958,"content":959},{"textAlign":49},[960],{"text":961,"type":582},"In Q2, Lithex successfully raised just over $800,000 following the issue of almost 34 million new shares.",{"type":577,"attrs":963,"content":964},{"textAlign":49},[965],{"text":966,"type":582},"While gold exploration is Maximus Resources’ priority, it has like Kidman, looked to review its potential for lithium within its tenements, particularly its Spargoville gold tenements, south west of Kalgoorlie.",{"type":577,"attrs":968,"content":969},{"textAlign":49},[970],{"text":971,"type":582},"Maximus’ review of its Spargoville database has concluded that the Lefroy prospect has significant potential for lithium mineralization, noting that it sits in a similar structural setting to that hosting the Neometals Mt Marion lithium project.",{"type":577,"attrs":973,"content":974},{"textAlign":49},[975],{"text":976,"type":582},"The company also holds ground over the Landor lithium prospect, for which initial assay results have returned positively for lithium. Follow up surface mapping is planned for the two prospects going into Q3.",{"type":577,"attrs":978,"content":979},{"textAlign":49},[980],{"text":981,"type":582},"Kairos, formerly known as Mining Projects Group (MPJ), announced in January that it had agreed to acquire Tyranna Resources’ Lynas Find Assets, renaming the area as the Mt York Pilbara Lithium-Gold Project.",{"type":577,"attrs":983,"content":984},{"textAlign":49},[985],{"text":986,"type":582},"The project adjoins Pilbara Minerals’ Pilgangoora project, as well as Altura Mining’s Pilgangoora asset.",{"type":577,"attrs":988,"content":989},{"textAlign":49},[990],{"text":991,"type":582},"Review of existing historical gold resources at the Mt York project is underway with the goal of upgrading the Kairos has applications for four new projects with field evaluation to commence this quarter.",{"type":577,"attrs":993,"content":994},{"textAlign":49},[995],{"text":996,"type":582},"Metalicity has a secondary focus on the discovery of lithium deposits in the Pilgangoora and Greenbushes districts after their primary focus on their Admiral Bay Zinc Project.",{"type":577,"attrs":998,"content":999},{"textAlign":49},[1000],{"text":1001,"type":582},"Assays returned from samples taken at their Pilgangoora South prospect returned 2.45% Li2O from outcropping pegmatites containing spodumene. The drill testing of these targets is anticipated for the third quarter of 2016, while a scoping study is to be completed by mid-2016.",{"type":577,"attrs":1003,"content":1004},{"textAlign":49},[1005],{"text":1006,"type":582},"Mithril is exploring for lithium and gold at its Spargos Reward Project, which is located 18km south of Neometals’ Mt Marion Project.",{"type":577,"attrs":1008,"content":1009},{"textAlign":49},[1010],{"text":1011,"type":582},"Four targets display strong similarities to Mt Marion; pegmatite intrusions within mafic – ultramafic rocks, cross cutting structural features, coincident radiometric anomalies and historic tin – tantalum – lithium mineral occurrences. Fieldwork is to commence during Q3.",{"type":577,"attrs":1013,"content":1014},{"textAlign":49},[1015],{"text":1016,"type":582},"Mithril is also exploring for lithium in the Northern Territory at its Leaky Bore Project.",{"type":577,"attrs":1018,"content":1019},{"textAlign":49},[1020],{"text":1021,"type":582},"Sayona entered the lithium exploration sector in March, when it secured a package of lithium prospective exploration tenements.",{"type":577,"attrs":1023,"content":1024},{"textAlign":49},[1025],{"text":1026,"type":582},"The two projects, named Tabba Tabba and Mt Edon stretch over a 364 km2 area.",{"type":577,"attrs":1028,"content":1029},{"textAlign":49},[1030],{"text":1031,"type":582},"Further mapping, geochemistry and analysis of pegmatites is planned over the tenement areas in order to identify prospective lithium targets for drilling.",{"type":577,"attrs":1033,"content":1034},{"textAlign":49},[1035],{"text":1036,"type":582},"The company is also focused on Canada, with a recent announcement stating their intention to acquire 100% of the advanced Authier lithium deposit in Quebec.",{"type":577,"attrs":1038,"content":1039},{"textAlign":49},[1040],{"text":1041,"type":582},"Segue announced in March that it had entered into an option and purchase agreement with Next Advancements Pty Ltd, a company with tenements in the Gasoyne Region of Western Australia. The tenements are adjacent to exploration license applications held by Lithium Australia and Venus Metals Corporation limited (VMC).",{"type":577,"attrs":1043,"content":1044},{"textAlign":49},[1045],{"text":1046,"type":582},"In April, Segue entered into a farm-in joint venture with Zeus Resources Limited (ZEU) along strike to tenements held by Next Advancements. It was announced that Segue had commenced a fieldwork programme at the Mortimer Hills JV, in conjunction with the existing exploration work being undertaken at Segue’s other tenements in the Gascoyne region.",{"type":577,"attrs":1048,"content":1049},{"textAlign":49},[1050],{"text":1051,"type":582},"While Tungsten Mining is focused on tungsten projects, it has a lithium asset called Lake Seabrook. Lake Seabrook, despite the name, is prospective for lithiummica pegmatites close to the shore.",{"type":577,"attrs":1053,"content":1054},{"textAlign":49},[1055],{"text":1056,"type":582},"Venus Metals has made exploration applications over six strategic lithium tantalum project areas in Western Australia, the Pilgangoora Northeast and Stannum projects in the Pilbara, the Nardoo project in the Capricorn, the Poona Project in the Murchison, and two tenements in the Greenbushes province of Western Australia.",{"type":577,"attrs":1058,"content":1059},{"textAlign":49},[1060],{"text":1061,"type":582},"In February, shortly after the acquisition of its Greenbushes tenements, Venus announced that it had joined forces with Lithium Australia to explore for lithium potential in its Pilgangoora project. Lithium Australia will contribute access to its Sileach technologies.",{"type":765,"attrs":1063,"content":1064},{"level":767,"textAlign":49},[1065],{"text":1066,"type":582},"Northern Territory",{"type":577,"attrs":1068,"content":1069},{"textAlign":49},[],{"type":577,"attrs":1071,"content":1072},{"textAlign":49},[1073],{"text":1074,"type":582},"Gold and copper explorer Adelaide Resources has been prompted into taking up exploration licenses for lithium after intense investor focus on the mineral.",{"type":577,"attrs":1076,"content":1077},{"textAlign":49},[1078],{"text":1079,"type":582},"The company has taken out exploration license application EL31211 named Newlands Creek, which the company says shows potential to host mineralisation.",{"type":577,"attrs":1081,"content":1082},{"textAlign":49},[1083],{"text":1084,"type":582},"Core is focused on its Finniss Lithium project in the Bynoe Pegmatite Field, and the Annungie Lithium project in the North Arunta Pegmatite Province.",{"type":577,"attrs":1086,"content":1087},{"textAlign":49},[1088],{"text":1089,"type":582},"Core reported in February that, while little modern systematic exploration for lithium has been conducted on its tenements, recent results and research indicates strong prospective lithium grades.",{"type":577,"attrs":1091,"content":1092},{"textAlign":49},[1093],{"text":1094,"type":582},"Core plans to commence field exploration of the large tenement application areas in the Anningie and Barrow Creek in May 2016, with assay results from Finnis expected during May and June 2016.",{"type":577,"attrs":1096,"content":1097},{"textAlign":49},[1098],{"text":1099,"type":582},"The company also plans to begin reconnaissance evaluation of pegmatites in the Harts Range Pegmatites Field toward the end of Q3 2016.",{"type":577,"attrs":1101,"content":1102},{"textAlign":49},[1103],{"text":1104,"type":582},"Liontown has defined 10 lithium targets at its Bynoe lithium-tantalum project in the Northern Territory ahead of a maiden drilling program, with drilling to commence in the second quarter of 2016.",{"type":577,"attrs":1106,"content":1107},{"textAlign":49},[1108],{"text":1109,"type":582},"Targets include the Hang Gong pegmatite which is >390m long, up to 60m wide at surface and where strongly weathered spodumene, as well as the Sandras pegmatite which is over 300m long, up to 40m wide and coincident with a 1km long, strong lithium-in-soils anomaly.",{"type":765,"attrs":1111,"content":1112},{"level":767,"textAlign":49},[1113],{"text":1114,"type":582}," New South Wales",{"type":577,"attrs":1116,"content":1117},{"textAlign":49},[],{"type":577,"attrs":1119,"content":1120},{"textAlign":49},[1121],{"text":1122,"type":582},"Platypus Minerals is a lone lithium explorer in New South Wales, with an exploration license application north of Broken Hill.",{"type":577,"attrs":1124,"content":1125},{"textAlign":49},[1126],{"text":1127,"type":582},"The company is exploring for amblygonite, a lithium rich phosphate mineral that can contain up to 10% Li2O.",{"type":577,"attrs":1129,"content":1130},{"textAlign":49},[1131],{"text":1132,"type":582},"Lepidico, to be acquired by Platypus Minerals in May 2016, are seeking to unlock the potential value of overlooked lithium deposits in conjunction with Lithium Australia, Crusader, Focus Minerals Limited (FML), and European Metal Holdings (EMH) in various capacities. Lithium Australia and Lepidico are linked directly and also indirectly through activities with Focus Minerals.",{"type":765,"attrs":1134,"content":1135},{"level":767,"textAlign":49},[1136],{"text":1137,"type":582},"Tasmania",{"type":577,"attrs":1139,"content":1140},{"textAlign":49},[],{"type":577,"attrs":1142,"content":1143},{"textAlign":49},[1144],{"text":1145,"type":582},"Argosy Minerals Ltd has executed a heads of agreement with Geotech International Pty Ltd, granting the company a two-year option period to purchase the Mount Paris lithium project in the state.",{"type":577,"attrs":1147,"content":1148},{"textAlign":49},[1149],{"text":1150,"type":582},"Argosy is already targeting lithium on an exploration license 60km northeast of Launceston, in northern Tasmania, in an extensive greisen swarm prospective for spodumene, lithium micas and lithium clays (hectorite).",{"type":577,"attrs":1152,"content":1153},{"textAlign":49},[1154],{"text":1155,"type":582},"A report released by the company in February this year states that the Mount Paris project to has “analogous geological setting to the Cinovec project [owned by ASX-listed European Metals Holding Ltd] – Europe’s largest lithium deposit”.",{"type":577,"attrs":1157,"content":1158},{"textAlign":49},[1159],{"text":1160,"type":582},"The company plans to continue progressing works at Mt Paris, as well as to consider new opportunities for possible acquisition.",{"type":577,"attrs":1162,"content":1163},{"textAlign":49},[1164,1168],{"text":1165,"type":582,"marks":1166}," Author:",[1167],{"type":585},{"text":1169,"type":582,"marks":1170}," Cameron Perks is a critical minerals geologist and analyst based in Perth, Australia",[1171],{"type":585},{"type":577,"attrs":1173,"content":1174},{"textAlign":49},[],"In a world where nearly all commodities are in the doldrums, lithium has been a rare, bright investment opportunity that is underpinned by a real demand story – the energy storage revolution.",[1177],{"slug":565,"name":566,"content":1178},{"job_title":568,"image":1179,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"cd5881f9-cd60-4fb4-89a7-13c2f9965563\", \"id\": \"\"}-->","article",[1183,1186,1189],{"slug":1184,"name":1185},"batteries","Batteries",{"slug":1187,"name":1188},"critical-minerals","Critical Minerals",{"slug":1190,"name":8},"lithium","private",{"id":49,"alt":1193,"name":1193,"focus":1193,"title":1193,"source":1193,"filename":1194,"copyright":1193,"fieldtype":1195,"meta_data":1196,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/68d424a1d9/bm-screen-shot-2016-07-21-at-202625.png","asset",{"alt":1193,"title":1193,"source":1193,"copyright":1193},"Jul 21, 2016","21st July 2016",[],[],1792773947603]