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China’s CATL-led consortium ‘the chosen one’ to kickstart Bolivia’s lithium industry

Burley Minerals’ new mineralisation model highlights Chubb Lithium exploration potential Gold Mountain restructures Brazilian lithium JV portfolio Zenith…

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This article was originally published by Stockhead
  • Burley Minerals’ new mineralisation model highlights Chubb Lithium exploration potential
  • Gold Mountain restructures Brazilian lithium JV portfolio
  • Zenith Minerals receives lithium drill results from pegmatites at the Waratah Well Project

All your lithium news, Tuesday January 24.

 

China’s largest battery producer, CATL, and largest cobalt miner, China Molybdenum (CMOC) have been picked to lead a consortium (known as CBC) into the development of Bolivia’s lithium reserves.

According to Reuters, the agreement was announced at an event in the political capital La Paz and will see the group undertake direct lithium extraction from the Uyuni and Oruro salt flats in Bolivia.

Bolivia holds the world’s largest lithium resources at 21Mt but almost no industrial production or commercially viable reserves. This deal is an attempt to unlock the country’s potential as a supplier of the material for batteries.

It allows the Consortium to develop two lithium plants – each with an annual production capacity of up to 25,000t of battery grade lithium carbonate annually – with the first phase involving an investment of more than $1bn from CBC.

 

Here’s how ASX lithium stocks are tracking:

CODE COMPANY PRICE % TODAY MARKET CAP
CMD Cassius Mining Ltd 0.031 24% $10,212,323
CRR Critical Resources 0.052 13% $73,155,300
FRS Forrestaniaresources 0.185 9% $10,351,522
LLI Loyal Lithium Ltd 0.42 8% $20,471,100
GLN Galan Lithium Ltd 1.23 7% $351,331,216
NWM Norwest Minerals 0.066 6% $13,770,658
CY5 Cygnus Gold Limited 0.43 6% $74,469,056
SRI Sipa Resources Ltd 0.035 6% $7,529,218
RDT Red Dirt Metals Ltd 0.535 6% $224,047,032
MM1 Midasmineralsltd 0.195 5% $10,569,376
LPI Lithium Pwr Int Ltd 0.5 5% $298,821,341
WML Woomera Mining Ltd 0.02 5% $18,167,063
MLS Metals Australia 0.062 5% $35,815,135
AOU Auroch Minerals Ltd 0.063 5% $25,670,708
LNR Lanthanein Resources 0.021 5% $19,631,511
MIN Mineral Resources. 95.97 5% $17,355,408,435
MTM Mtmongerresources 0.087 5% $4,733,010
BNR Bulletin Res Ltd 0.11 5% $30,827,066
IGO IGO Limited 15.81 4% $11,480,180,045
PLS Pilbara Min Ltd 5.035 4% $14,480,192,637
FG1 Flynngold 0.1 4% $7,519,060
LRS Latin Resources Ltd 0.125 4% $264,198,590
LLL Leolithiumlimited 0.5725 4% $542,661,302
BYH Bryah Resources Ltd 0.026 4% $7,031,337
AKE Allkem Limited 13.855 4% $8,506,358,867
SYA Sayona Mining Ltd 0.27 4% $2,258,551,123
LTR Liontown Resources 1.525 4% $3,228,759,965
AX8 Accelerate Resources 0.028 4% $10,195,247
RAG Ragnar Metals Ltd 0.014 4% $5,118,996
MMC Mitremining 0.295 4% $7,719,254
LPD Lepidico Ltd 0.0155 3% $114,566,576
GL1 Globallith 2.18 3% $449,795,570
DRE Dreadnought Resources Ltd 0.097 3% $290,434,453
EFE Eastern Resources 0.0165 3% $18,805,217
ALY Alchemy Resource Ltd 0.0165 3% $18,849,220
CZL Cons Zinc Ltd 0.0175 3% $8,200,083
AS2 Askarimetalslimited 0.71 3% $34,048,415
SCN Scorpion Minerals 0.075 3% $25,236,552
GSM Golden State Mining 0.043 2% $4,914,597
KZR Kalamazoo Resources 0.22 2% $31,996,165
INR Ioneer Ltd 0.47 2% $965,235,603
ZNC Zenith Minerals Ltd 0.25 2% $86,167,981
LEL Lithenergy 0.795 2% $46,917,000
PLL Piedmont Lithium Inc 0.91 2% $378,996,700
GW1 Greenwing Resources 0.315 2% $45,898,248
AZL Arizona Lithium Ltd 0.067 2% $161,205,306
VUL Vulcan Energy 6.89 1% $973,925,694
EUR European Lithium Ltd 0.083 1% $118,837,612
AAJ Aruma Resources Ltd 0.086 1% $13,341,728
LIT Lithium Australia 0.0475 1% $57,396,009
GT1 Greentechnology 0.95 1% $179,294,089
CXO Core Lithium 1.1225 1% $2,060,929,303
WES Wesfarmers Limited 49.285 1% $55,531,609,248
ESS Essential Metals Ltd 0.5075 0% $134,868,680
RIO Rio Tinto Limited 126.73 0% $46,914,305,125
ADV Ardiden Ltd 0.008 0% $21,506,683
1MC Morella Corporation 0.015 0% $91,478,707
AML Aeon Metals Ltd. 0.029 0% $31,795,618
ASN Anson Resources Ltd 0.19 0% $223,868,435
AVZ AVZ Minerals Ltd 0.78 0% $2,752,409,203
EMH European Metals Hldg 0.66 0% $83,052,099
INF Infinity Lithium 0.13 0% $60,136,972
PSC Prospect Res Ltd 0.12 0% $55,471,135
RLC Reedy Lagoon Corp. 0.01 0% $5,667,196
TKL Traka Resources 0.007 0% $5,059,422
TON Triton Min Ltd 0.037 0% $51,163,015
ARN Aldoro Resources 0.23 0% $25,969,833
EMS Eastern Metals 0.085 0% $3,320,475
IMI Infinitymining 0.26 0% $19,884,363
LRV Larvottoresources 0.185 0% $12,442,124
CTN Catalina Resources 0.009 0% $11,146,382
WCN White Cliff Min Ltd 0.013 0% $9,792,707
KGD Kula Gold Limited 0.027 0% $9,752,722
QXR Qx Resources Limited 0.052 0% $46,636,841
AZI Altamin Limited 0.078 0% $30,553,907
ENT Enterprise Metals 0.009 0% $6,345,726
KAI Kairos Minerals Ltd 0.024 0% $47,138,244
AVW Avira Resources Ltd 0.003 0% $6,401,370
RMX Red Mount Min Ltd 0.005 0% $9,941,744
CAI Calidus Resources 0.405 0% $177,886,194
A8G Australasian Metals 0.195 0% $8,028,246
SRZ Stellar Resources 0.013 0% $13,060,202
LSR Lodestar Minerals 0.005 0% $8,692,187
AOA Ausmon Resorces 0.007 0% $6,001,025
VKA Viking Mines Ltd 0.008 0% $8,202,067
IPT Impact Minerals 0.011 0% $27,295,076
VMC Venus Metals Cor Ltd 0.155 0% $27,602,196
RGL Riversgold 0.029 0% $27,418,564
RAS Ragusa Minerals Ltd 0.11 0% $15,685,866
EPM Eclipse Metals 0.023 0% $46,645,375
EVR Ev Resources Ltd 0.016 0% $14,863,745
MNS Magnis Energy Tech 0.42 0% $407,539,223
MXR Maximus Resources 0.04 0% $12,762,231
M2R Miramar 0.078 0% $5,513,176
WMC Wiluna Mining Corp 0.205 0% $74,238,031
AUN Aurumin 0.065 0% $11,554,588
KTA Krakatoa Resources 0.043 0% $14,822,526
TYX Tyranna Res Ltd 0.025 0% $60,135,633
DAF Discovery Alaska Ltd 0.027 0% $6,054,337
IR1 Irismetals 1.16 0% $72,766,800
DAL Dalaroometalsltd 0.085 0% $2,539,375
TUL Tulla Resources 0.38 0% $80,882,411
A11 Atlantic Lithium 0.7 0% $424,019,162
VSR Voltaic Strategic 0.026 0% $7,967,197
AGY Argosy Minerals Ltd 0.6625 0% $933,930,986
WR1 Winsome Resources 1.975 -1% $279,273,662
NMT Neometals Ltd 0.875 -1% $486,412,235
LKE Lake Resources 0.8175 -1% $1,148,953,200
PNN Power Minerals Ltd 0.5 -1% $36,483,636
EMC Everest Metals Corp 0.099 -1% $10,643,311
CHR Charger Metals 0.38 -1% $16,830,032
BMM Balkanminingandmin 0.37 -1% $16,789,505
JRL Jindalee Resources 2.04 -1% $118,774,460
PGD Peregrine Gold 0.58 -2% $22,863,615
DTM Dart Mining NL 0.055 -2% $8,714,751
LIS Lisenergylimited 0.3775 -2% $63,876,962
STM Sunstone Metals Ltd 0.043 -2% $115,299,642
ZEO Zeotech Limited 0.042 -2% $70,550,344
LRD Lordresourceslimited 0.19 -3% $6,491,964
SGQ St George Min Ltd 0.074 -3% $63,436,450
MRR Minrex Resources Ltd 0.035 -3% $39,055,230
NVA Nova Minerals Ltd 0.65 -3% $140,736,268
WC8 Wildcat Resources 0.029 -3% $19,860,682
FTL Firetail Resources 0.14 -3% $9,425,000
PAM Pan Asia Metals 0.38 -4% $58,007,958
G88 Golden Mile Res Ltd 0.024 -4% $5,114,744
TKM Trek Metals Ltd 0.071 -4% $26,931,936
QPM Queensland Pacific 0.115 -4% $209,561,751
OCN Oceanalithiumlimited 0.41 -5% $15,658,020
MQR Marquee Resource Ltd 0.04 -5% $13,742,715
PAT Patriot Lithium 0.3 -5% $18,258,188
AM7 Arcadia Minerals 0.225 -6% $11,207,494
TEM Tempest Minerals 0.027 -7% $14,638,219
XTC Xantippe Res Ltd 0.0055 -8% $61,752,208
LLO Lion One Metals Ltd 1.06 -10% $13,591,588
TMB Tambourahmetals 0.12 -11% $5,561,001
THR Thor Energy PLC 0.006 -14% $10,187,190

A total of 53 stocks finished in the green, 52 fell flat and 32 tumbled into the red.

 

Who’s got news out?

BURLEY MINERALS (ASX:BUR)

Modelling of the Chubb lithium project, which Burley Minerals is in the process of acquiring, has outlined a substantial exploration target with at least five parallel stacked lithium-bearing spodumene dykes that are open along strike and at depth.

“Drilling and clearing permits have been lodged to test all five lodes over a strike potential of 1,200m to vertical depths of up to 250m,” the company said.

“The new and extended Program of Works (PoW) Application is forecast to see drilling approvals granted in early February with drilling aimed to commence in late February.”

 

GOLD MOUNTAIN (ASX:GMN)

Gold Mountain has restructured its Brazilian lithium JV portfolio, acquiring an additional 55% in the Juremal, Custodia, Jacurici, Cerro Cora and Porta D’Agua projects after reaching a purchase agreement with joint venture (JV) partner Mars Mines.

The now simplified JV structure flowing from this reworked agreement will give Gold Mountain much more control over the quantum, location and timing of exploration related expenditures on these assets.

GMN says the consolidation of all these highly prospective Brazilian lithium assets will now be managed in-house under a single, newly created “Brazilian Lithium Projects” business unit.

Senior Gold Mountain staff are scheduled to travel to Brazil in late January or early February 2023 to plan and implement a staged exploration program with the aim of identifying drill targets in these now majority-owned assets.

 

ZENITH MINERALS (ASX:ZNC)

High-grade lithium drill results from pegmatites at the Waratah Well Project in Western Australia’s Murchison region have been received, returning 14m at 1% Li2O, including 8m at 1.5% Li2O and 10m at 1.4% Li2O, as well as 6m at 2% Li2O.

The current drill program, consisting of 13 RC holes, was designed to assess potential changes in lithium mineralogy below the depth of weathering and possible lithium depletion of lithium mineralisation intersected in drilling completed in mid-2022.

Zenith says this has been confirmed with planning underway for a follow-up drill program to define the extents of lithium mineralisation that remains open to the north, south and east under shallow soil cover.

 

PATRIOT BATTERY METALS (ASX:PMT)

Patriot has appointed Natacha Garoute to chief financial officer effective immediately as Dusan Berka steps down.

Garoute has more than 20 years’ experience with both TSX and ASX listed companies with international exposure.

She most recently held the position of CFO at Champion Iron Ore (ASX:CIA) and was CFO and Corporate Secretary with TSX-listed Roxgold between 2013 and 2018.

 

LATIN RESOURCES (ASX:LRS)

LRS has received the latest assays from diamond drilling completed in late 2022, which confirm the company’s assessment that the Colina West Prospect represents an exceptional resource growth opportunity.

Stand out results include 13.73m at 1.38% Li2O from 200.19m, 11.16m at 1.61% Li2O from 360.17m, 15.96m at 1.56% Li2O from 350.09m, and 10.85m at 1.96% Li20 from 322.15m.

LRS geology manager Tony Greenaway says the Colina West area is shaping up to be a critical new discovery.

“The thick high‐ grade mineralisation we have encountered here is on par with, or arguably better that the main Colina deposit.

“The potential scale of the Colina West discovery, highlighted by these latest results, means that this area is a major focus for our current 2023 drilling campaign.”


The post Eye on Lithium: CATL-led consortium ‘the chosen one’ to kickstart Bolivia’s lithium industry appeared first on Stockhead.

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