The mention of the words “lithium” or “pegmatite” were enough to give stocks double-digit percentage gains back in March and April, and allowed many juniors to raise much-needed cash.
While that’s no longer the case, many of the companies who benefitted from the investor interest at the time are now getting down to the business of actually finding some lithium.
Just yesterday, there were lithium-related announcements from at least six companies, with more out this morning.
Birimian extended a high-grade discovery at its Bougouni lithium project in Mali, with results including 56m at 1.91% lithium oxide from 14m, including 8m at 2.35% lithium oxide and 10m at 2.19% lithium oxide.
Despite little movement yesterday, the stock has risen by more than 300% so far this year.
Prospect Resources, up more than 920% since the start of the year, yesterday returned high-grade results from the first five holes at its Arcadia project in Zimbabwe.
Results included 8.25m at 1.74% lithium oxide, 7.7m at 1.74% lithium oxide and 5.3m at 1.86% lithium oxide – all from depths of less than 50m.
Both expect to release maiden resources before the end of next month.
Monax Mining reported high-grade samples of up to 8.03% lithium oxide from its Litchfield lithium project in the Northern Territory and is planning further sampling work.
Peninsula Mines reported “strongly anomalous lithium results” from stream sediment surveys from its two South Korean projects.
The company will now conduct rock chip sampling to identify the source of the results.
Kingston Resources reported yesterday that the first of its tenement applications in the Bynoe pegmatite field of the NT had been, allowing rock chip and soil sampling to begin.
The company also has had initial success at Deep Purple at Mt Cattlin, where it is preparing to drill before the end of the year.
Today, Lithium Power International reported that due diligence regarding the proposed Maricunga lithium joint venture in Chile was complete, with exploration at the 50%-owned project to begin this month.
Pioneer Resources started drilling its Pioneer Dome project in Western Australia this week, while pilot plant testing of Lithium Australia’s SiLeach processing technology is underway at ANSTO Minerals.
Also in lithium, Pilbara Minerals and Altura Mining are both due to release definitive feasibility studies for their respective Pilgangoora projects in the coming days, keeping them on track for first production late next year.
