- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Charger Metals Quarterly Cash Flow Report
Charger Metals NL (ASX: CHR, ‘Charger’ or ‘the Company’) has released its Quarterly Cash Flow Report.
Click here for the full ASX Release
This article includes content from Charger Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
AM Resources Acquires Significant Land Package in the Austrian Pegmatite Belt
AM Resources Corporation(“AM Resources” or the “Company”) (TSXV: AMR) (Frankfurt: 76A), a dynamic junior mining company focused on the exploration and development of high-potential pegmatite deposits, is pleased to announce the acquisition of a significant land package totaling 1,500 km2 through map staking in Austria. The newly acquired land is located in the Austrian Pegmatite Belt within the Austroalpine Nappes, known for its geological diversity and rich mineral endowment.
- Newly acquired 1,500 km2 land package gives AM Resources control over a large area of the Austrian Pegmatite Belt.
- New land package includes the Frederick Property, where 112 pegmatites were identified over an area of 52.25 km2.
- AM Resources properties are located within a 620 km radius of 14 battery plants.
AM Resources extended 1,500 km2 land package
Lithium Exploration Country Play
AM Resources has positioned itself to become the only lithium exploration country play in a proven jurisdiction with an existing Tier 1 lithium mine project1 and located within 620 km of end users.
The AM Resources team has been actively assembling a massive prospective land package with four key elements at the core of its strategy: proven geology, proximity to key markets, historical expertise, and a clear, proven mining code. Of the few jurisdictions that qualified, Austria was the obvious choice. AM Resources’ properties are located within 620 km of 14 planned battery plants and have direct access to an extensive rail system. Mining in Austria predates the founding of the country with the world’s oldest salt mine in operation2. In addition, mining has a tradition of skilled labor and an extensive academic and geological service network. In its report on the mining industry, Minlex (commissioned by the European Union) concluded: “In Austria, operators have investment security and legal certainty”3. When we combine all these elements and add in the massive land package available, the Company believes it has a unique investment proposition for its shareholders.
David Grondin, CEO of AM Resources, commented: "Seizing this unique opportunity in a proven mining friendly jurisdiction was a no-brainer for us. We are very excited to have assembled such a large, high value prospective property. We were diligent in testing and proving our theory last summer when we acquired two properties based on geological probabilistic structures and went to the ground and found spodumene4 on each one of them. Following this confirmation, we have staked all currently available claims that we believe to be of geological interest in the proven Austrian Pegmatite Belt5.”
Within the new property acquisition, the Company is excited to add the Frederick property to its portfolio with 112 identified pegmatites6 in an area of 52.25 km2. The longest identified pegmatite measures over 750 metres in length. This property demonstrates the exceptional potential of the Austrian Pegmatite Belt. The combination of the number and size of the identified pegmatites makes this property one of the team's top priorities for the Company's next exploration campaign.
AM Resources New Frederick Property
"This strategic acquisition represents a pivotal moment in AM Resources' growth plan and strengthens its position in one of the most prospective mineral regions in Europe. This acquisition fits perfectly with our growth strategy and underscores our confidence in the mineral potential of Austria. The geological diversity for other minerals and the presence of extensive pegmatite systems provide exciting discovery opportunities. To do so in such an overlooked, regulatory stable mining jurisdiction makes it even more exhilarating,” added Mr. Grondin.
The Company has spent the last few months building long-lasting local relationships with the government, service providers and professionals and is looking forward to carrying out exploration activities, continuing to investigate new lithium discoveries made during the last summer campaign, as well as exploring new prospective ground. In addition, AM Resources is considering expanding its land position to further enhance its strategic position.
New Land-Package Geology
Geological surveys indicate the presence of several thousand pegmatites variably distributed throughout the area. These pegmatite-bearing units consist primarily of mica schist and paragneiss, often containing staurolite and/or aluminosilicate-rich layers, with protoliths expected to range in age from Neoproterozoic to Carboniferous.
The spodumene pegmatites typically occur as dykes ranging in length from a few tens of metres to over 1 km, with thicknesses varying from a few decimetres to several metres. These pegmatites, together with leucogranites, which occur as inhomogeneous bodies with pegmatitic and aplitic zones, cover extensive areas of up to 1,500 km2. Their sharp contact with host rocks, sometimes with narrow reaction zones, underscores their geological importance.
This geological area has led to the discovery of the Wolfsberg deposit with over 10 million tonnes grading in excess of 1% spodumene. AM Resources' business model is to explore for a deposit of this magnitude on its newly acquired properties.
Warrants Extension
The Company also announces that it has applied for the TSX Venture Exchange’s approval to extend the term of an aggregate of 13,155,000 common share purchase warrants (the “Warrants”). The Warrants were originally issued as part of a private placement that closed in two tranches dated April 6 and April 29, 2022, respectively. The expiry dates will be extended as follows:
Number of warrants | Exercise Price | Original Expiry Date | New Expiry Date |
8,695,000 | $0.075 | April 6, 2024 | April 6, 2025 |
4,460,000 | $0.075 | April 29, 2024 | April 29, 2025 |
All other terms of the Warrants will remain unchanged.
Qualified Person
Technical information related in this news release has been reviewed and verified by Jean Lafleur, P. Geo., of PJLEXPL Inc., a registered geologist with the Ordre des Géologues du Québec (OGQ #833) and is a qualified person (QP) as defined by NI 43-101. Mr. Lafleur is independent from the Company and has reviewed and approved the disclosure of the AM Resources geological information.
About AM Resources
AM Resources Corporation (TSXV: AMR) is a dynamic junior mining company focused on the exploration and development of high-potential pegmatite deposits. With a strategic portfolio of assets and a commitment to responsible resource development, the Company is dedicated to creating long-term value for its stakeholders while adhering to the highest standards of corporate governance and sustainability.
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AM Resources to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. AM Resources does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
David Grondin
AM Resources Corporation
President and Chief Executive Officer
1-514-360-0576
www.am-resources.ca
Lancaster Resources
Overview
Lithium is essential for producing lithium-ion batteries — and therefore essential to the global electrification goals. Moreover, the battery metal plays a key role in multiple technologies central to sustainability. Analyst expectations indicate that by 2040, we could see lithium demand grow more than 40 times what it is today, especially driven by new legislation intended to increase the supply of critical minerals, such as the Inflation Reduction Act in the United States.
One challenge not often discussed with regard to lithium supply is sustainability. Traditional lithium mining typically requires immense volumes of energy and generates considerable waste. Even lithium brine extraction, typically viewed as the more sustainable option, has the potential to cause environmental harm.
Enter Lancaster Resources (CSE:LCR,OTCQB:LANRF,FSE:6UF0), a dynamic, junior exploration company focused on developing the resources required for the global transition to clean energy and electrification. The company intends to be one of North America's first climate-positive lithium producers. To achieve this, Lancaster plans to implement a number of innovative technologies and practices, including leveraging solar energy in its production and developing a carbon sequestration process for its operations.
Lancaster will also make full use of direct lithium extraction technology, allowing it to recover the majority of lithium from brine deposits with minimal environmental impact.
Lancaster Resources currently has the option to acquire a 100-percent interest in the Alkali Flat lithium project, which will become its flagship. The closed-brine deposit is situated in New Mexico, which many believe is the next frontier for lithium. Notably, Alkali Flat also displays very similar geology to Clayton Valley in Nevada, currently the site of the only producing lithium mine in the country.
In addition to lithium, the company also has two high-impact mineral claims in the world-class Athabasca Basin, targeting high-grade uranium. The Catley Lake and Centennial East properties, spanning 3,036 hectares and 5,081 hectares, respectively, provide significant exploration opportunities. The Athabasca Basin in Saskatchewan, Canada hosts some of the world’s largest and highest-grade uranium deposits and home to some of the biggest mines, including Cameco’s McArthur River and Cigar Lake uranium mines. Lancaster’s assets are adjacent to Cameco's Centennial deposit claim block in the south-central area of the Athabasca Basin.
These promising projects are not the only reason to keep an eye on Lancaster Resources — the company also employs a highly experienced and respected technical team.
Exploration consultant Rodney Blakestad is a geologist with over forty years of experience in mineral exploration, having discovered multiple high-value deposits throughout his career. The esteemed Gary Lohman also sits on the company's advisory board, providing extensive expertise in geological, geochemical and geophysical exploration techniques.
With its new collaborative agreement with KorrAI Technologies, a pioneer in hyper-spectral imaging, Lancaster is also redefining and enhancing the efficiency and accuracy of mineral exploration, particularly for lithium, uranium, rare earth elements and other critical minerals. This cutting edge technology effectively minimizes environmental impact, optimizes resource discovery, and accelerates production.
Company Highlights
- Lancaster Resources, an innovative exploration company with a focus on climate-positive lithium, is well-positioned to help meet the growing demand.
- The company has an option to acquire 100 percent ownership in the Alkali Flat Lithium Project, situated in southwestern New Mexico.
- Recognized as one of the best mining jurisdictions in the world, New Mexico is regarded as the new frontier for lithium exploration in the United States.
- New Mexico also has the benefit of being a hub for renewable energy production, with ample sources of solar, wind and geothermal power.
- The New Mexico State Land Office has a long history of partnering with renewable energy companies and has made roughly nine million acres of land available for lease to support them.
- Lancaster will ensure the Alkali Flat project is climate-positive by:
- Using direct lithium extraction, allowing it to restore the majority of groundwater after filtering out the lithium salts.
- Exclusively using renewable energy. The company is currently in discussions with several parties about initiating a solar project alongside its lithium project.
- Employing carbon sequestration as part of its mining and processing operations.
- A collaboration agreement with KorrAI Technologies could transform Lancaster’s exploration capability through cutting-edge hyper-spectral imaging technology.
- Lancaster hosts an impressive leadership and technical team which includes multiple geologists with decades of experience alongside recognized financial and legal professionals such as CEO Penny White.
Key Assets
Alkali Flat Lithium Project
Lancaster Resources currently plans to acquire a 100-percent interest in Alkali Flat, a lithium brine project that will serve as the company's flagship. Located in the Animas Valley near Lordsburg, the 233-claim property is also transected by Interstate 10. Historic research and geochemical data indicate the presence of anomalous levels of lithium.
Lancaster plans to evaluate potential direct lithium extraction partners once it has taken and assessed brine samples from the site.
Highlights:
- Promising Geology: Hidalgo County, the region in which Alkali Flat is situated, displays geology nearly identical to Clayton Valley in Nevada, itself a hotbed of lithium mining and exploration.
- Highly Prospective Resource: Recent data on the site shows a range in lithium concentration of 69.6 to 147.8 parts per million in 51 playa sediment samples. Additionally, Arizona Lithium, a major Australian mining company, has staked property immediately north of Alkali Flat. Exploration data released by Arizona Lithium indicates a chargeability anomaly low in the lower right section of its claim.
- Current Exploration Plans: Lancaster intends to define a closed basin brine with a commercially viable lithium deposit. The company received administrative approval for its maiden drill program confirming the compliance of the application with the requirements of the Minimal Impact Exploration permit application.
- Promising at the Outset: Alkali Flat was initially discovered by esteemed geologist Rodney Blakestad, who has an established history of identifying highly prospective lithium targets.
- Favorable Legislation: In addition to being situated in a mining-friendly jurisdiction, Alkali Flat will benefit from the 2022 Inflation Reduction Act. The tax incentives the act provides is set to considerably increase demand for domestically sourced lithium.
Trans-Taiga Lithium Pegmatite Property
Lancaster has an exclusive option to acquire 100 percent of the 3,520-acre Trans-Taiga lithium pegmatite property in Quebec, located between Patriot Battery Metals’ Corvette and Winsome Resources’ Cancet deposits. This underexplored yet highly prospective property has huge upside potential with access to hydroelectric power, providing clean, near-zero-carbon electricity. Lancaster plans to conduct surface exploration and a geophysics program in the spring of 2024.
Catley Lake and Centennial East Uranium Projects
Acquired by Lancaster in February 2024, Catley Lake and Centennial East cover 3,036 and 5,081 hectares, respectively, offering significant exploration opportunities. The properties are approximately 24 kilometers southwest of Cameco’s prospective Dufferin uranium deposit. Lancaster plans to progress the exploration of these claims using new, modern technologies to identify favorable geology, structures and corridors that could host high concentrations of uranium. These strategic acquisitions reinforce Lancaster’s dedication to discovering critical minerals in support of the energy transition.
Management Team
Penny White - President and CEO
Penny White is an accomplished business leader with over 20 years of experience in the capital markets. As the president and CEO of Lancaster Lithium, she brings a wealth of expertise and leadership to the company. White has a diverse background, with experience in sectors such as mining, pharmaceuticals and clean energy. She co-founded a pharmaceutical company that was later acquired for $342 million and was the chairman of Highbury Energy for 10 years, overseeing the development of the company’s gasification technology and registration of a patent to create high-grade synthetic gas from biomass.
White has been recognized in PROFIT Magazine's W100 list of top entrepreneurs and has raised over $50 million for companies she has founded. In addition to her Law Degree, Penny has completed the Oxford Leading Sustainable Corporations Programme and the Oxford Climate Emergency Programme from Saïd Business School, University of Oxford. She is deeply committed to fighting climate change and working towards a more sustainable future.
White believes that by taking care of our planet, we can create a better world for ourselves and future generations.
Andrew Watson - Vice-president of Engineering and Operations
Andrew Watson brings with him 21 years of rich technical leadership, operations, corporate strategy, and commercialization experience in lithium, hydrogen, and conventional oil and gas production. Watson’s experience includes working at Prism Diversified, as chief operating officer, to lead the technical development of two substantial battery metal critical mineral opportunities. While at Prism Diversified, Watson is spearheading the lithium brine development opportunities on over 850 square miles of highly prospective brine resources. His previous positions include VP engineering and operations at CleanInnoGen Energy, where he led the development of the world’s first-of-a-kind pilot project to capture industrial waste heat to produce on-site, low-cost, near-zero emission hydrogen and oxygen. Prior to this, as the VP of engineering and operations at Hyak Energy, he managed the operations of a 60MMbbl medium crude oil field in SW Saskatchewan, using an Alkali-Surfactant-Polymer chemical enhanced oil recovery scheme, increased production by over 250 percent, and spearheaded corporate sale leading to a successful divestment in January 2020.
Rick Huang - Chief Financial Officer and Corporate Secretary
Rick Huang has been the CFO of Lancaster Resources for 2 years. He has over 15 years’ experience as a director and officer in public companies. Between 2012 and 2014, he chaired the compensation and corporate governance committee for Great Northern Gold Exploration Corporation. For 11 years, from 2007 to 2018, he was the CFO of Hanwei Energy Services (TSX:HE), managing its finance, banking, and compliance departments. He has overseen accounting for subsidiaries in Canada, China, and Kazakhstan. His roles have encompassed investor relations, AGM preparations, and international joint venture negotiations. His experience also spans roles at companies like Pepsi Bottling Group (Canada) and Coca-Cola China. Huang has been involved with Datable Technology (TSXV:TTM) since May 2015 and previously with Poydras Gaming Finance. (TSXV:PYD). He’s been a designated CPA, CGA since 2005 and has an MBA from the University of Western Ontario in 2001.
Rodney Blakestad - Exploration Consultant
Rodney Blakestad is a highly experienced consulting geologist with a successful career spanning over 40 years. Throughout his career, Blakestad has been involved in the discovery of numerous commercial-grade deposits, including the bulk-tonnage potential of the largest operating gold mine in Alaska (Fort Knox, now at 10M ounces), the first leached-cap porphyry systems discovered in Alaska (Taurus-Bluff and others), Cerro Caliche bulk-tonnage gold discovery near Cucurpe, Sonora, Mexico, the Anderson Mountain and Red Mountain VMS deposits in the Alaska range, USA and numerous volcanogenic massive sulfide deposits (VMS) in the Delta District, Alaska, USA. He has also discovered several gold placers in Alaska, USA.
Blakestad's expertise in minerals exploration was developed through his university education at the University of Alaska, where he studied advanced geochemistry, with special topical studies on gold geochemistry, the origin and transport of large gold particles and leached outcrop interpretation. Additionally, he has traveled throughout western Canada, the US and Mexico studying alteration facies and leached cap rocks of porphyry systems and some gold deposits to distinguish between barren deposits and mineralized systems.
In addition to his geological expertise, Blakestad has a Juris Doctor from the University of Denver Law School, where he studied natural resources and environmental law. This background has led him to focus on brine lithium deposits that can be processed with minimal surface degradation, and water consumption, and use alternatives to fossil fuels for the entire recovery process. Blakestad is a certified professional geologist with the American Institute of Professional Geologists and a registered professional geologist in the State of Alaska. He has also been a board of director and/or vice-president of exploration for several publicly traded companies.
Daniel Card - Technical Committee
Danial Card, P.Geo, RPGeo, a professional Geophysicist, holds a BSc. Hons degree from the University of Manitoba and is currently registered in Canada and Australia. His career started with Xstrata (now Glencore) where he worked his way up to project geophysicist at Raglan Mine in northern Quebec then went on to serve at Xstrata’s Western Australian operations Cosmos and Sinclair in the Leinstern-Wiluna nickel camp, where he played a key role in the discovery and definition of the 9 MT Odysseus nickel sulphide deposit.
Following his tenure at Xstrata, Card went on to work as senior geophysicist for Southern Geoscience Consultants in Perth, WA, where he served as the staff electromagnetics specialist. He also served as the technical lead on many mineral exploration projects. Card continued as a senior technical consultant to Abitibi Geophysics and an expert peer reviewer for the journal “Exploration Geophysics”. He then founded EarthEx, a company specialized in geophysical prospecting, data interpretation, 3D modeling and target definition,
Gary Lohman — Qualified Persons and Advisor
Gary Lohman is one of the founding members of and currently serves as the chief operating officer for both Royal Stewart Resources Corp and Thistle Resources. He also holds the position of vice-president at Nine Mile Metals. With four decades of management experience, Lohman brings a wealth of knowledge in precious and base metal exploration both inside and outside the mining industry.
A graduate of the esteemed geology programme at the University of Toronto in 1981, Lohman’s proficiency spans various geological, geochemical and geophysical exploration techniques. He has applied these skills in numerous geological contexts, including volcanogenic massive sulphides (VMS), porphyry copper/molybdenum and iron oxide copper gold (IOCG) style deposits. His expansive experience extends to conducting evaluations and research on bonanza grade and bulk tonnage gold-silver properties located in Canada, Mexico, California, Ecuador and Chile.
Patrick Cruickshank - Advisor
Patrick Cruickshank brings over 20 years of experience from the wealth management sector working for Merrill Lynch, Legg Mason and Citigroup Capital Markets, where he focused on creating and protecting wealth while specializing in funding growth companies. Cruickshank was an NFLPA Advisor from 2000 to 2012, until transitioning into the private equity sector. Since 2012, he has concentrated on acquiring, funding and growing companies in the energy and resource sector.
Cruickshank is the current Chief Executive Officer and Director of Nine Mile Metals (CSE:NINE). He also serves on a number of private resource companies and is a frequent speaker/interviewee on the resource sector investment space, in Australia, Chile, Canada and the USA.
Cruickshank is a former Canadian Olympic/U23 soccer player, US NCAA Division 1 collegiate player and coach. He received his MBA from the Schulich School of Business at York University in 1989.
Heather Williamson - Director, VP Corporate Finance and Corporate Secretary
Heather Williamson is a seasoned finance and legal professional with over 20 years of experience in the industry. She has worked as a paralegal and in corporate finance for several public companies, including Boston Pizza International and Angiotech Pharmaceuticals. Williamson's expertise in finance and the legal industry is demonstrated by her successful completion of over $10 million in financing for a public company, including spearheading all aspects of an initial public offering and successful listing on the Canadian Securities Exchange (CSE).
She is well-versed in finance closings, IPOs and compliance with securities and stock exchange regulations. In addition to her extensive experience, Williamson is currently working towards her MBA at Royal Roads University. She currently serves as the director and vice-president of corporate finance for Lancaster Lithium, where she leads the company's corporate and securities compliance strategy.
William “Bill” Feyerabend - Advisor and Qualified Person
William Feyerabend brings with him a vast wealth of experience in the exploration and development of Lithium projects across the American West, Mexico, and South America. He has authored technical reports for claim blocks in Nevada’s lithium development epi-center, including the Clayton and Fish Lake Valleys. His expertise in lithium exploration began in 2015, with a specific focus on Esmeralda County, NV and especially Clayton Valley. Notably, Feyerabend set the discovery well for Pure Energy.
Feyerabend has extensive experience in generating lithium brine targets and serving as a Qualified Person for lithium projects in Nevada, California, Utah, and Argentina. He has had roles with major companies such as US Borax and Gold Fields Mining and played a part in the discovery and development of four significant mineral projects. His international exposure is equally extensive, having worked on projects in Argentina, Bolivia, Chile, China, Colombia, Ghana, Guyana, Mexico, Peru, Saudi Arabia, United States, and Venezuela. This wealth of international experience will prove invaluable as Lancaster Resources continues to expand and enhance its operations.
Mohammad Asefi - Technical Committee
Mohammad Asefi received his B.Sc. and M.Sc. degrees in antennas and microwave engineering from the American University of Sharjah, United Arab Emirates, in 2009 and 2011 respectively, and his PhD in electrical and computer engineering in 2016 from the University of Manitoba, Winnipeg, MB, Canada. From 2016 to 2017 he was a postdoctoral fellow at the electromagnetic imaging laboratory at the University of Manitoba. He was the director of research at 151 Research Inc. between 2017 and 2020 with a focus on biomedical imaging, stored grain monitoring using electromagnetic waves, and the development of electromagnetic imaging systems, and near-field measurements. He was the product development manager (Advanced Research) at Agco Winnipeg between 2020 and 2023 with a focus on the research and development of electromagnetic imaging systems/techniques for monitoring grain bins. He is currently the CTO of EarthEx Geophysical Solutions where he works on cutting-edge technologies for drone-based magnetic and electromagnetic data acquisition and analysis systems.
Further Broad and High-Grade Drill Intersections Resource Extension Drilling Results Ewoyaa Lithium Project, Ghana, West Africa
69m at 1.25% Li2O from 45m returned at Dog-Leg target, outside of current MRE1
Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the African-focused lithium exploration and development company targeting to deliver Ghana’s first lithium mine, is pleased to announce further broad and high-grade assay results from resource drilling completed at the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) in Ghana, West Africa.
Highlights:
- Further assay results received for 2,514m of extensional resource reverse circulation (“RC”) drilling completed at the Dog-Leg target, representing the final results from drilling undertaken in 2023, with a total of 25,898m drilled throughout the year.
- Multiple high-grade and broad extensional drill intersections reported at the new Dog-Leg target outside of the current 35.3Mt @ 1.25% Li2O JORC (2012) compliant Ewoyaa Mineral Resource Estimate1 (“MRE” or the “Resource”), including highlights at a 0.4% Li2O cut-off and a maximum 4m of internal dilution of:
- GRC1024: 69m at 1.25% Li2O from 45m
- GRC1027: 34m at 1.02% Li2O from 160m
- GRC1024: 22m at 0.85% Li2O from 141m
- GRC1030: 16m at 1.08% Li2O from 111m
- GRC1032: 12m at 1.11% Li2O from 83m
- Results at Dog-Leg are significant; drilling has intersected shallow dipping, near surface mineralised pegmatite bodies with true thicknesses up to 35m outside of the MRE1, proving potential for significant resource growth.
- The Company is advancing the drilling programme to be undertaken in 2024:
- Plant site sterilisation drilling now completed for a total of 3,177m in 21 holes, with no mineralisation intersected, providing confidence in the proposed plant site location.
- A further 804m of RC drilling and 70m of diamond core drilling recently completed at Dog-Leg, with assay results pending.
- Further resource extension and exploration drilling planned alongside ongoing regional exploration.
- MRE upgrade, for both lithium and feldspar, to incorporate all 2023 and 2024 drilling, targeted for H2 2024.
Commenting on the Company’s latest progress, Neil Herbert, Executive Chairman of Atlantic Lithium, said:
“The final assay results from drilling completed in 2023 have again delivered impressive intersections, providing further confidence in the growth potential of the current 35.3Mt @ 1.25% Li2O Resource at the Ewoyaa Lithium Project.
“These results are from the new mineralised area at the Dog-Leg target, located on the northern tip of the Ewoyaa Main deposit, outside of the current MRE, where drilling has returned multiple high-grade and broad near surface extensional intersections, including 69m at 1.25% Li2O from 45m. This follows the intersection of 83m at 1% Li2O from 36m in hole GRC1020 reported at Dog-Leg last month.
“On the back of the encouraging results delivered from drilling completed in 2023 at Dog-Leg, we are excited to have recently completed a further 874m of resource extension drilling at the target as part of our resource growth programme for 2024. We look forward to receiving further drilling results and delivering a MRE upgrade for the Project, targeted for H2 2024. The MRE upgrade will include updates to both the lithium and feldspar and incorporate all of the results received from drilling completed in 2023 and results pending for 2024.
“In addition, we are pleased to have recently completed the plant site sterilisation programme without any surprises, allowing us to continue with our mine site designs and permitting.
“We look forward to updating shareholders on our ongoing progress.”
Click here for the full ASX Release
This article includes content from Atlantic Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Lancaster Resources Announces Shareholder Meeting Results
Lancaster Resources Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) ("Lancaster" or the "Company") is pleased to announce the results of its annual general and special meeting held on March 15, 2024 (the "Meeting"). At the Meeting, the shareholders of the Company (the "Shareholders") approved the plan of arrangement previously announced on January 30, 2024, pursuant to which the Company will spin off the majority of its ownership in Nelson Lake Copper Corp. by issuing a stock dividend of Nelson Lake common shares to Lancaster shareholders.
30,037,612 votes, or approximately 99.999% of the votes cast at the Meeting, were cast in favour of the special resolution approving the Arrangement. The special resolution approving the Arrangement was required to be passed by at least two-thirds (66 2/3%) of the votes cast by Shareholders. Details of the voting results will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca.
The Company will seek a final order approving the Arrangement from the British Columbia Supreme Court on March 25, 2024. Closing of the Arrangement remains subject to court approval. Subject to the satisfaction of these closing conditions, the parties currently expect to complete the Arrangement in March 2024.
Further details regarding the Arrangement, including the principal closing conditions and the benefits for the Shareholders, can be found in the Company's management proxy circular dated February 8, 2024 in respect of the Meeting, which can be found under the Company's SEDAR+ profile at www.sedarplus.ca.
130,403,233 common shares, constituting 58.12% of the Company's issued and outstanding common shares, were represented at the Meeting. Shareholders voted in favour of all agenda items, which encompassed the appointment of Saturna Group Chartered Professional Accountants LLP as auditor for the forthcoming year and the election of all nominated individuals for the Board of Directors. Amongst the elected directors were returning board members Penny White, Heather Williamson, and Daniel Kang, alongside the newly elected director Stephen Andrew Watson, the Company's VP of Engineering and Operations, bringing the total number of directors to four.
The Company is also pleased to announce the launch of a 12-month online marketing campaign through AGORACOM to target new potential investors interested in the Company's business model and to engage current shareholders. Leveraging AGORACOM's digital network, which garnered over 700 million lifetime page views from 8.9 million investors, the campaign aims to provide exposure to the Lancaster Resources HUB, featuring various multimedia assets and real-time updates. Additionally, the Company has established a moderated "CEO Verified" Discussion Forum on AGORACOM to facilitate communication with shareholders. The fees for these services amount to $125,000 over a 12-month period.
About Lancaster Resources Inc.
Lancaster Resources (CSE:LCR | OTCQB:LANRF | FRA:6UF0) is engaged in exploring lithium and uranium and other critical minerals. Its Alkali Flat Lithium Project, in Lordsburg, New Mexico, USA, involves the exploration of a below-surface lithium brine target. Lancaster's goal at Alkali Flat is to produce Net-Zero Lithium through the use of direct lithium extraction (DLE) technology and solar power. Lancaster is also collaborating to deploy advanced satellite hyperspectral acquisition, geospatial data aggregation, and AI-driven predictive modelling services exploration.
Lancaster holds a 100-per-cent interest in the Catley Lalk and Centenniel East Uranium projects in the Athabasca basin in Saskatchewan, Canada. Lancaster's project portfolio includes rights to acquire the Trans-Taiga Lithium Property located within the James Bay lithium district of Quebec and the Nelson Lake Copper Project in Saskatchewan, Canada, held through its subsidiary Nelson Lake Copper Corp. Lancaster is in the process of divesting a majority of its ownership in Nelson Lake through a spin-off transaction. Guiding Lancaster's journey is a skilled management and technical team with collective involvement in over 15 commercial mineral discoveries and endowed with extensive experience in the creation of lithium brine targets and the exploration and development of exploration projects across Canada, the American West, Mexico, and South America.
Penny White, President & Chief Executive Officer
Lancaster Resources Inc.
Email: penny@lancasterlithium.com
Tel: 604 923 6100
Website: www.lancaster-resources.com
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or Lancaster's future performance. The use of any of the words "could," "expect," "believe," "will," "projected," "estimated," and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Lancaster's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, the ability of Lancaster to enter into an Arrangement Agreement and meet the other conditions precedent of the Spin-Off Agreement, the ability of Lancaster to execute its exploration plans, obtain exploration and drilling permits, raise capital, retain key personnel, identify, acquire, explore, and develop high-quality mineral-rich properties, and integrate sustainable energy sources and innovative technologies for climate-positive resource production constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information.
Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. Lancaster disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as may be expressly required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Jindalee Lithium Eyes Mid-year PFS Completion, CEO Says
Lithium exploration and development company Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) expects to complete its prefeasibility study on the McDermitt lithium project in Oregon by the middle of 2024, according to CEO Ian Rodger.
“We’ve completed a lot of the metallurgical testwork, we’re at the back end of that, as well as the engineering and cost estimates (and) the mine planning work. Ultimately we've got a very big resource,” he said.
Rodger said the PFS will focus on the first five to 10 years of the mine life to maximise margin and economic returns.
With a mineral resource estimate of 21.5 million tonnes of lithium carbonate equivalent, the McDermitt lithium project is the largest deposit of its kind in the US. Through the property, Jindalee aims to become a significant supplier of lithium chemicals to the US electric vehicle (EV) industry.
“The reason it's compelling (is its) strategic location on the doorstep of the EV supply chain, and … this thematic around reshoring and the North American buildout really plays into why the (McDermitt) asset is interesting,” Rodger said. "And certainly from conversations with groups that are potentially interested in offtakes and partnerships down the line, the scale is really attractive."
Watch the full interview with Ian Rodger, CEO of Jindalee Lithium, above.
Disclaimer: This interview is sponsored by Jindalee Lithium (ASX:JLL,OTCQX:JNDAF). This interview provides information which was sourced by the Investing News Network (INN) and approved by Jindalee Lithium in order to help investors learn more about the company. Jindalee Lithium is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Jindalee Lithium and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Galan’s HMW Project Phase 1 & 2 Unaffected by Provincial Court Ruling
Galan Lithium Limited (ASX:GLN) (Galan or the Company) wishes to provide a response to speculation about any impact of the recent court ruling at its 100% owned Hombre Muerto West (HMW) lithium brine project, with lithium chloride production expected in H1 2025. Galan continues its steady progress in advancing its low cost, high grade HMW project to production in a timely manner.
- A recent court ruling by the Court of Justice in the Province of Catamarca has temporarily halted the issuance of new environmental permits and authorizations for the Los Patos River area until the provincial government completes an environmental impact assessment that takes into consideration the cumulative impact of all projects in the area.
- The resolution relates to the use of fresh water in the south-east part of the Hombre Muerto Salar, where the Los Patos River runs. The ruling has no impact on Galan’s existing and granted Phase 1 HMW permits and Environmental Impact Assessments (EIAs). Phase 1 construction continues.
- The resolution is also not expected to have any impact on Galan’s HMW Phase 2 development plans or permitting process, as Galan is not planning to source water from the Los Patos River. Galan is confident that the Phase 2 permitting application process remains on track with continued strong support from both local communities and government.
- Galan’s proposed HMW production process to produce a high grade lithium chloride concentrate (6% Li or 32% LCE) uses very little fresh water and considerably less water than the subsequent conversion to lithium carbonate or hydroxide, underpinning the low environmental impact of Galan’s chloride strategy. Furthermore, water for the HMW Project is to be sourced directly from in situ dedicated non-potable water wells.
As previously announced, the HMW project was separated into four production phases. The initial Phase 1 Definitive Feasibility Study (DFS) focused on the production of 5.4ktpa LCE of a lithium chloride concentrate by H1 2025, as governed by the approved production permits. The Phase 2 DFS targets 21ktpa LCE of a lithium chloride concentrate in 2026, followed by Phase 3 production of 40ktpa LCE by 2028 and finally a Phase 4 production target of 60ktpa LCE by 2030. Phase 4 will include lithium brine sourced from both HMW and Galan’s other 100% owned project in Argentina, Candelas. The very positive Phase 2 DFS results were announced on 3 October 2023 (https://wcsecure.weblink.com.au/pdf/GLN/02720109.pdf).
Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, stated:
“We wish to confirm that a recent ruling by the Court of Justice in the Province of Catamarca, Argentina will have no impact on Galan's Phase 1 project and no expected impact on our Phase 2 development plans at Hombre Muerto West. We are not located in the area under dispute and there is no river running close by to Hombre Muerto West, that could be affected by similar rulings in the future. We are confident that this is a localised issue which may potentially impact some other projects operating on the Hombre Muerto Salar but has no impact on Galan.”
Click here for the full ASX Release
This article includes content from Galan Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.