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Eye on Lithium: The ASX small caps busy drilling for more of that white gold
Cygnus Gold doubles the known depth of mineralisation at Pontax in latest drilling program Atlantic Lithium continues to pull exciting … Read More
The…
- Cygnus Gold doubles the known depth of mineralisation at Pontax in latest drilling program
- Atlantic Lithium continues to pull exciting grades at Ewoyaa
- Forrestania identifies a new pegmatite occurrence at the Calypso prospect
All your lithium news, Tuesday November 29.
Aussie junior explorers are forecast to spend around A$1,720m on exploration this year – an achievement which mirrors what was reached back in 2012 during the last mining boom, according to MinEx Consulting veteran minerals economist Richard Schodde.
Over the last couple of decades, he says the share of total exploration spend by junior companies has varied from 40% to 50% moving in synch with the business cycle.
From 2012 – 2021 they accounted for 42% of total spend while majors made up 57%.
Although gold may still be the main target for these companies, strong growth is picking up in exploration on critical minerals such as lithium.
Today, the bulk of the news in the ASX lithium space revolves around pegmatite finds, lithium drilling and resource development at various projects around the country and oversees.
Cygnus Gold (ASX:CY5), for example, was up 4.08% by lunch time on news its latest drilling program at the Pontax Lithium Project in Canada’s James Bay region has doubled the known depth of mineralisation to 230m after intersecting multiple pegmatites in all three holes.
The third drill hole intersected a fresh 13.3m spodumene-bearing pegmatite at bottom of hole on a new mineralised trend, demonstrating the system is continuous and completely open in all directions.
Spodumene was also observed throughout the recent holes and is the only lithium mineral observed within the dykes, with up to 40% spodumene in places.
Meanwhile, Atlantic Lithium (ASX:A11) continues to pull exciting grades out of the ground at the Ewoyaa Lithium Project in Ghana where ongoing resource extension work is being conducted.
This latest batch of results has delivered multiple drill intersections outside the resource footprint at the Ewoyaa North-East, Kaampakrom West and Ewoyaa Main deposits, including highlights of 35m at 1.48% Li2O from 111m and 27m at 1.71% Li2O from 155m at the Ewoyaa North-East deposit.
Here’s how ASX lithium stocks are tracking:
| CODE | COMPANY | PRICE | % TODAY | MARKET CAP |
|---|---|---|---|---|
| G88 | Golden Mile Res Ltd | 0.029 | 26% | $4,705,564 |
| ADV | Ardiden Ltd | 0.01 | 11% | $24,015,018 |
| AX8 | Accelerate Resources | 0.0315 | 9% | $9,019,804 |
| XTC | Xantippe Res Ltd | 0.0065 | 8% | $48,871,379 |
| NWM | Norwest Minerals | 0.056 | 8% | $11,549,584 |
| LLL | Leolithiumlimited | 0.51 | 6% | $473,595,318 |
| FRS | Forrestaniaresources | 0.175 | 6% | $8,319,270 |
| GLN | Galan Lithium Ltd | 1.425 | 6% | $409,646,490 |
| TKM | Trek Metals Ltd | 0.09 | 6% | $30,935,332 |
| KTA | Krakatoa Resources | 0.059 | 5% | $19,303,755 |
| CY5 | Cygnus Gold Limited | 0.515 | 5% | $79,675,535 |
| AGY | Argosy Minerals Ltd | 0.5875 | 5% | $786,468,199 |
| MNS | Magnis Energy Tech | 0.365 | 4% | $339,616,019 |
| DRE | Dreadnought Resources Ltd | 0.1 | 4% | $295,076,309 |
| BYH | Bryah Resources Ltd | 0.026 | 4% | $7,031,337 |
| GT1 | Greentechnology | 0.96 | 4% | $176,433,014 |
| INR | Ioneer Ltd | 0.55 | 4% | $1,112,119,282 |
| QXR | Qx Resources Limited | 0.056 | 4% | $47,620,565 |
| RIO | Rio Tinto Limited | 108 | 4% | $38,662,168,688 |
| RDT | Red Dirt Metals Ltd | 0.57 | 4% | $183,001,036 |
| WC8 | Wildcat Resources | 0.03 | 3% | $19,198,659 |
| TYX | Tyranna Res Ltd | 0.031 | 3% | $72,162,760 |
| 1MC | Morella Corporation | 0.0175 | 3% | $98,626,448 |
| LRV | Larvottoresources | 0.175 | 3% | $8,483,935 |
| LTR | Liontown Resources | 1.9025 | 3% | $4,063,405,398 |
| AAJ | Aruma Resources Ltd | 0.077 | 3% | $11,772,113 |
| SYA | Sayona Mining Ltd | 0.205 | 3% | $1,704,244,006 |
| MIN | Mineral Resources | 83.67 | 2% | $15,531,619,752 |
| LIT | Lithium Australia | 0.051 | 2% | $61,059,584 |
| LLI | Loyal Lithium Ltd | 0.51 | 2% | $23,370,000 |
| CXO | Core Lithium | 1.315 | 2% | $2,371,432,051 |
| SCN | Scorpion Minerals | 0.075 | 1% | $24,694,258 |
| PLS | Pilbara Min Ltd | 4.47 | 1% | $13,236,269,449 |
| IGO | IGO Limited | 14.635 | 1% | $10,972,810,610 |
| LKE | Lake Resources | 0.9425 | 1% | $1,300,864,293 |
| AKE | Allkem Limited | 13.13 | 0% | $8,340,567,765 |
| A8G | Australasian Metals | 0.25 | 0% | $10,292,624 |
| AML | Aeon Metals Ltd. | 0.03 | 0% | $32,892,019 |
| AOA | Ausmon Resorces | 0.007 | 0% | $6,001,025 |
| AVW | Avira Resources Ltd | 0.003 | 0% | $6,401,370 |
| AVZ | AVZ Minerals Ltd | 0.78 | 0% | $2,752,409,203 |
| AZI | Altamin Limited | 0.095 | 0% | $37,213,091 |
| BNR | Bulletin Res Ltd | 0.115 | 0% | $33,647,977 |
| CMD | Cassius Mining Ltd | 0.028 | 0% | $11,304,745 |
| CZL | Cons Zinc Ltd | 0.02 | 0% | $9,258,429 |
| DAF | Discovery Alaska Ltd | 0.029 | 0% | $6,502,806 |
| DAL | Dalaroometalsltd | 0.11 | 0% | $3,286,250 |
| EMH | European Metals Hldg | 0.73 | 0% | $86,927,877 |
| EMS | Eastern Metals | 0.096 | 0% | $3,750,184 |
| ENT | Enterprise Metals | 0.009 | 0% | $5,876,826 |
| ESS | Essential Metals Ltd | 0.405 | 0% | $104,880,391 |
| FG1 | Flynngold | 0.13 | 0% | $8,327,937 |
| IPT | Impact Minerals | 0.01 | 0% | $24,813,706 |
| LPD | Lepidico Ltd | 0.016 | 0% | $122,204,340 |
| LRS | Latin Resources Ltd | 0.12 | 0% | $240,954,066 |
| LSR | Lodestar Minerals | 0.005 | 0% | $8,692,187 |
| M2R | Miramar | 0.099 | 0% | $6,997,493 |
| MLS | Metals Australia | 0.045 | 0% | $27,316,629 |
| MM1 | Midasmineralsltd | 0.175 | 0% | $9,998,059 |
| MTM | Mtmongerresources | 0.11 | 0% | $4,126,104 |
| MXR | Maximus Resources | 0.043 | 0% | $13,712,948 |
| PGD | Peregrine Gold | 0.485 | 0% | $18,794,666 |
| RMX | Red Mount Min Ltd | 0.005 | 0% | $8,211,819 |
| SRI | Sipa Resources Ltd | 0.04 | 0% | $9,079,437 |
| SRZ | Stellar Resources | 0.013 | 0% | $13,060,202 |
| TKL | Traka Resources | 0.006 | 0% | $4,132,647 |
| TMB | Tambourahmetals | 0.14 | 0% | $5,766,964 |
| VKA | Viking Mines Ltd | 0.009 | 0% | $9,227,326 |
| VMC | Venus Metals Cor Ltd | 0.15 | 0% | $26,711,802 |
| WMC | Wiluna Mining Corp | 0.205 | 0% | $74,238,031 |
| ZEO | Zeotech Limited | 0.036 | 0% | $59,065,404 |
| LEL | Lithenergy | 0.895 | -1% | $54,135,000 |
| WES | Wesfarmers Limited | 48.175 | -1% | $55,013,928,542 |
| CAI | Calidus Resources | 0.3475 | -1% | $153,223,597 |
| VUL | Vulcan Energy | 6.99 | -1% | $1,010,513,872 |
| CHR | Charger Metals | 0.54 | -1% | $23,765,289 |
| ASN | Anson Resources Ltd | 0.2225 | -1% | $264,576,150 |
| PLL | Piedmont Lithium Inc | 0.8 | -1% | $427,332,348 |
| AUN | Aurumin | 0.079 | -1% | $10,804,571 |
| A11 | Atlantic Lithium | 0.76 | -1% | $466,421,078 |
| GL1 | Globallith | 2.28 | -1% | $480,937,971 |
| JRL | Jindalee Resources | 2.14 | -1% | $124,512,356 |
| DTM | Dart Mining NL | 0.069 | -1% | $10,868,211 |
| IMI | Infinitymining | 0.33 | -1% | $21,144,781 |
| KAI | Kairos Minerals Ltd | 0.0285 | -2% | $56,958,711 |
| PNN | Power Minerals Ltd | 0.56 | -2% | $41,129,768 |
| MQR | Marquee Resource Ltd | 0.054 | -2% | $17,468,967 |
| LPI | Lithium Pwr Int Ltd | 0.5 | -2% | $199,512,574 |
| NMT | Neometals Ltd | 0.96 | -2% | $541,686,352 |
| EUR | European Lithium Ltd | 0.082 | -2% | $121,736,091 |
| STM | Sunstone Metals Ltd | 0.036 | -3% | $96,956,517 |
| INF | Infinity Lithium | 0.175 | -3% | $81,361,344 |
| LNR | Lanthanein Resources | 0.034 | -3% | $33,698,895 |
| RGL | Riversgold | 0.034 | -3% | $33,091,370 |
| WCN | White Cliff Min Ltd | 0.017 | -3% | $13,083,059 |
| ZNC | Zenith Minerals Ltd | 0.315 | -3% | $114,177,238 |
| BMM | Balkanminingandmin | 0.29 | -3% | $12,903,227 |
| WML | Woomera Mining Ltd | 0.0145 | -3% | $14,093,764 |
| CRR | Critical Resources | 0.055 | -4% | $85,130,734 |
| AOU | Auroch Minerals Ltd | 0.054 | -4% | $20,782,261 |
| WR1 | Winsome Resources | 1.06 | -4% | $153,111,223 |
| AS2 | Askarimetalslimited | 0.395 | -4% | $20,229,040 |
| ALY | Alchemy Resource Ltd | 0.026 | -4% | $31,808,059 |
| AM7 | Arcadia Minerals | 0.26 | -4% | $12,608,431 |
| TUL | Tulla Resources | 0.38 | -4% | $79,234,130 |
| RAS | Ragusa Minerals Ltd | 0.125 | -4% | $17,201,359 |
| QPM | Queensland Pacific | 0.12 | -4% | $218,293,490 |
| AZL | Arizona Lithium Ltd | 0.07 | -4% | $175,924,566 |
| NVA | Nova Minerals Ltd | 0.68 | -4% | $145,563,075 |
| KZR | Kalamazoo Resources | 0.21 | -5% | $32,740,262 |
| IR1 | Irismetals | 1.79 | -5% | $117,932,400 |
| LIS | Lisenergylimited | 0.39 | -5% | $68,024,817 |
| MRR | Minrex Resources Ltd | 0.039 | -5% | $44,425,210 |
| EPM | Eclipse Metals | 0.019 | -5% | $40,485,137 |
| EVR | Ev Resources Ltd | 0.019 | -5% | $18,579,681 |
| OCN | Oceanalithiumlimited | 0.47 | -5% | $17,040,375 |
| SHH | Shree Minerals Ltd | 0.009 | -5% | $11,765,625 |
| TSCDA | Twenty Seven Co. Ltd | 0.071 | -5% | $7,982,442 |
| RAG | Ragnar Metals Ltd | 0.017 | -6% | $6,825,328 |
| GW1 | Greenwing Resources | 0.335 | -6% | $44,802,939 |
| KGD | Kula Gold Limited | 0.033 | -6% | $12,642,417 |
| ARN | Aldoro Resources | 0.31 | -6% | $37,120,815 |
| PSC | Prospect Res Ltd | 0.155 | -6% | $76,272,811 |
| TEM | Tempest Minerals | 0.026 | -7% | $14,133,453 |
| LRD | Lordresourceslimited | 0.225 | -8% | $8,154,732 |
| RLC | Reedy Lagoon Corp. | 0.011 | -8% | $6,689,123 |
| PAM | Pan Asia Metals | 0.41 | -9% | $66,085,016 |
| TON | Triton Min Ltd | 0.025 | -11% | $38,717,957 |
| FTL | Firetail Resources | 0.165 | -11% | $12,025,000 |
| MMC | Mitremining | 0.205 | -11% | $6,229,573 |
| GSM | Golden State Mining | 0.049 | -11% | $6,435,781 |
| EFE | Eastern Resources | 0.0365 | -11% | $46,630,224 |
| THR | Thor Mining PLC | 0.008 | -11% | $9,925,951 |
35 lithium companies finished in the green, 36 fell flat, and 62 nose dived into a sea of red.
Who else has got news out?
FORRESTANIA RESOURCES (ASX:FRS)
FRS has identified a new pegmatite occurrence at the Calypso prospect – within its namesake project in Western Australia – which it says corresponds with significant pegmatite and granitoid intersections interpreted in historic aircore drilling.
This is an excellent outcome for the geology team, FRS chairman and CEO John Hannaford says.
“While it is still only early days in terms of our exploration efforts at Calypso, this is significant, being the first pegmatite outcrop, which corresponds with historic pegmatite drill hole intercepts on the western flank of the Forrestania project.
“The Calypso prospect is located around 5km west of our South Ironcap East prospect and 4.5km west of IGO’s South Ironcap prospect, where 50m at 0.95% lithium oxide was recorded in pegmatites in a nickel focussed drill hole.”
OCTAVA MINERALS (ASX:OCT)
OCT has identified multiple pegmatites at the Pinnacle Well lithium prospect around 10km to the north of Global Lithium’s (ASX:GL1) Archer Lithium deposit in the East Pilbara.
Earlier mapping and pXRF analysis of soil samples had identified a number of priority targets within the wider Talga Project, including an extended area of elevated Li-index analysis results around and to the north of the Pinnacle Well prospect.
However, inspection by company geologists has now identified an approximately 1.5km length pegmatite running east-west.
A number of rock samples have been collected for analysis with results anticipated to be received in the coming weeks.
LARVOTTO (ASX:LRV)
Planning is underway for the initial aircore drilling of the lithium geochemical anomaly identified at the Merivale prospect, within the wider Eyre Project in Western Australia.
“Since identifying the Merivale lithium geochemical anomaly directly south of Liontown’s Buldania lithium deposit, the company has been progressing the required approvals to commence the initial phase of aircore drilling,” LRV managing director Ron Heeks says.
“Encouragingly, the required Program of Work has been approved and an aircore drill rig has been sourced to undertake the drill program.
“Some 4,000m of drilling is planned upon completion of heritage surveys that commenced this week.”
CY5,A11,FRS,OCT,LRV share price today
LATIN RESOURCES (ASX:LRS)
Latin Resources’ Cloud Nine halloysite-kaolin project in WA is more valuable than ever following a 33% increase in resources to 280Mt of kaolinised granite.
Notably, the company’s confidence in the resource has also increased with 70Mt of the resource now reporting to the Indicated resource category, meaning enough information on geology and grade continuity is available to support mine planning.
Adding further value for LRS, about 116Mt of the global resource (26.7Mt Indicated) is made up of bright, white kaolinite-bearing material while infill drilling has allowed for 85Mt of high-grade (58%) halloysite-bearing material to be defined in the Inferred Resources category.
LRS share price today
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