Eye on Lithium: Krakatoa simmers on the ASX, while Patriot rocks down to Electric Avenue

Krakatoa Resources has the drills spinning at King Tamba lithium project in WA
The other Patriot – PAT – taken higher on acquisition in Ontario
Liontown’s Kathleen Valley project is more than 50% complete, with production in view for mid-2024

Lithium news roundup, Tuesday October 31.

Krakatoa bubbles up as the drills spin

Krakatoa Resources (ASX:KTA)

If an absolute eruption of price hasn’t quite hit yet for critical minerals hunting junior Krakatoa, a boom of activity is certainly taking place. It’ll definitely take the simmering +26% price action this afternoon, however.

We have full details in today’s special report about what’s happening at the company’s priority 42km2 King Tamba project in WA’s Mid West, but just quickly:

• The $10.4m market-capped company has begun a reverse circulation (RC) drill program to test high-grade lithium targets at King Tamba.

• Grades of up to 4.3% Li from rock chip samples are being targeted.

• Drilling will be conducted across the Wilsons, Loader and MGM prospects…

• … with 12-15 RC holes, spanning 1,200 metres, to be drilled as part of the campaign.

• All three prospects have previously returned high-grade lithium results.

Source: KTA ASX announcement

Some 80km northwest of Mount Magnet, King Tamba is within the Dalgaranga greenstone belt that’s known for enriched gold, zinc, base metals lithium and rare earth deposits related to pegmatites.

Lithium is now front and centre on Krakatoa’s radar, after it defined a 1.3km-long by 500m-wide mineralised zone including at the Wilsons prospect where 250m of continuous outcrop has been identified with results of up to 4.3% Li2O, 1.7% rubidium and 0.5% caesium.

Krakatoa’s drill program is slated to be finished within 10 days, with samples to be sent to a lab in Perth.

KTA share price

Mooners and shake-outs

What’s electrifying today?

Enterprise Metals (ASX:ENT) +33% (up on no news)

Krakatoa Resources (ASX:KTA) +26% (up on: King Tamba drilling – see above)

Patriot Lithium (ASX:PAT) +24% (up on: Electric Avenue – see a bit further below)

What needs recharging today?

Accelerate Resources (ASX:AX8) -18%

Magnis Energy Technologies (ASX:MNS) -14%

Wildcat Resources (ASX:WC8) -16%

ASX lithium form guide:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop. (Note: figures accurate per ASX at 3pm.)

Stocks missing from this list?

Email [email protected] and/or [email protected]

CODE COMPANY PRICE DAILY RTN % 1 WEEK % 1 MTH % 1 YR % MARKET CAP ADV Ardiden Ltd 0.005 0% 25% -9% -29% $13,441,677 AGY Argosy Minerals Ltd 0.16 -3% -6% -18% -69% $231,727,237 1MC Morella Corporation 0.005 -9% -17% -17% -77% $33,762,606 AML Aeon Metals Ltd. 0.012 0% 9% -20% -56% $13,156,807 ASN Anson Resources Ltd 0.165 3% 6% 18% -46% $205,718,267 AVZ AVZ Minerals Ltd 0.78 0% 0% 0% 0% $2,752,409,203 CXO Core Lithium 0.35 0% 6% -14% -74% $747,927,440 EMH European Metals Hldg 0.615 -2% -5% -12% -19% $80,042,792 ESS Essential Metals Ltd 0.5 0% 9% 3% 9% $135,278,382 EUR European Lithium Ltd 0.065 -4% -6% -14% -28% $94,808,264 GLN Galan Lithium Ltd 0.6075 -5% -11% -7% -60% $226,062,259 INF Infinity Lithium 0.084 -1% 2% 5% -60% $39,320,328 INR Ioneer Ltd 0.1375 -8% -8% -39% -75% $316,653,948 JRL Jindalee Resources 1.265 -4% -7% -28% -45% $79,040,235 LIT Lithium Australia 0.033 3% 6% -3% -31% $39,110,134 LKE Lake Resources 0.1625 -4% -4% -10% -84% $241,815,600 LPD Lepidico Ltd 0.009 0% -10% -10% -53% $68,744,772 LPI Lithium Pwr Int Ltd 0.525 0% -1% 46% -12% $330,349,719 LTR Liontown Resources 1.63 -1% -9% -45% -12% $3,944,254,717 MIN Mineral Resources. 57.92 -4% 3% -14% -19% $11,750,222,966 MLS Metals Australia 0.037 -5% 3% 9% -8% $24,337,411 AKE Allkem Limited 9.56 -4% -8% -19% -32% $6,348,460,439 PLL Piedmont Lithium Inc 0.425 -7% -11% -31% -54% $167,274,744 PLS Pilbara Min Ltd 3.665 -4% 2% -15% -25% $11,496,147,361 QPM Queensland Pacific 0.057 -2% -3% -17% -64% $116,725,163 PSC Prospect Res Ltd 0.087 -4% -8% 14% -13% $42,065,611 RLC Reedy Lagoon Corp. 0.005 0% 0% -17% -60% $3,083,418 SYA Sayona Mining Ltd 0.0745 -8% -8% -20% -68% $833,756,977 TKL Traka Resources 0.005 0% 0% 0% -17% $4,376,646 TON Triton Min Ltd 0.027 -4% -4% 23% 17% $43,717,957 VUL Vulcan Energy 2.08 -4% -11% -28% -71% $365,287,603 GL1 Globallith 1.19 -1% -4% -13% -52% $313,132,142 BMM Balkanminingandmin 0.13 4% -4% -35% -53% $8,600,897 LEL Lithenergy 0.71 5% 23% 18% -37% $69,531,750 ARN Aldoro Resources 0.09 -9% 2% 0% -69% $13,327,751 NMT Neometals Ltd 0.205 -11% -31% -45% -81% $127,260,826 IGO IGO Limited 9.43 -3% -11% -26% -39% $7,337,925,108 AAJ Aruma Resources Ltd 0.032 0% -6% -11% -54% $6,300,528 PAM Pan Asia Metals 0.15 0% -25% -25% -63% $23,823,215 AX8 Accelerate Resources 0.037 -18% 23% 48% 23% $20,970,099 AM7 Arcadia Minerals 0.085 0% -12% -19% -73% $9,269,259 AS2 Askarimetalslimited 0.155 0% -18% -16% -64% $11,904,033 BYH Bryah Resources Ltd 0.013 8% -7% -13% -40% $4,303,263 EMS Eastern Metals 0.032 3% 3% -3% -73% $2,555,214 FG1 Flynngold 0.061 -6% -10% 2% -47% $8,864,868 FRS Forrestaniaresources 0.034 0% 17% -24% -83% $3,478,255 GSM Golden State Mining 0.019 0% -44% -47% -47% $3,630,677 IMI Infinitymining 0.12 0% 0% 9% -49% $9,343,166 LRV Larvottoresources 0.16 0% 60% 28% -9% $10,760,756 MMC Mitremining 0.225 -2% -4% -17% 29% $10,430,523 RAG Ragnar Metals Ltd 0.022 0% 5% -4% 5% $10,427,581 CTN Catalina Resources 0.004 0% 0% 0% -43% $4,953,948 TMB Tambourahmetals 0.115 0% -8% -43% -15% $9,538,141 TEM Tempest Minerals 0.007 0% -13% -22% -76% $3,579,684 EMC Everest Metals Corp 0.098 4% -7% -15% -2% $12,528,612 WCN White Cliff Min Ltd 0.011 0% -8% 0% -45% $13,827,204 WML Woomera Mining Ltd 0.009 0% -10% -18% -33% $8,605,751 AZL Arizona Lithium Ltd 0.017 6% 21% 13% -79% $51,115,035 CRR Critical Resources 0.027 0% -4% -29% -53% $48,001,958 KGD Kula Gold Limited 0.014 17% 17% 8% -61% $4,478,543 LRS Latin Resources Ltd 0.235 -8% -6% -4% 104% $706,989,081 PNN Power Minerals Ltd 0.275 6% 12% 10% -43% $20,726,206 WR1 Winsome Resources 1.33 -3% 15% -10% 183% $242,364,879 KZR Kalamazoo Resources 0.09 -5% -3% -14% -53% $16,110,457 MTM MTM Critical Metals 0.02 -13% -5% -46% -83% $2,284,753 QXR Qx Resources Limited 0.024 -4% 4% 0% -60% $27,643,196 SCN Scorpion Minerals 0.052 -2% -5% -5% -26% $18,375,428 AZI Altamin Limited 0.059 0% 0% -9% -31% $23,111,288 ENT Enterprise Metals 0.004 33% 0% 0% -60% $2,398,413 KAI Kairos Minerals Ltd 0.016 0% -24% -27% -41% $41,934,595 STM Sunstone Metals Ltd 0.018 -5% 29% 6% -42% $58,557,713 PGD Peregrine Gold 0.295 9% 4% 18% -30% $15,194,955 AVW Avira Resources Ltd 0.002 0% 33% 0% -33% $4,267,580 NVA Nova Minerals Ltd 0.26 -3% -2% 6% -63% $56,413,065 GT1 Greentechnology 0.4 1% 0% -5% -57% $84,126,122 BNR Bulletin Res Ltd 0.16 0% 39% 103% 23% $46,974,576 CAI Calidus Resources 0.195 11% 30% 26% -44% $106,791,476 MRR Minrex Resources Ltd 0.015 7% -6% 7% -65% $15,188,145 A8G Australasian Metals 0.2 5% 0% 0% -15% $9,902,894 EFE Eastern Resources 0.008 0% 0% -20% -77% $9,935,572 MQR Marquee Resource Ltd 0.025 -4% -4% -14% -59% $10,747,994 SRZ Stellar Resources 0.0085 0% -15% -29% -29% $9,334,585 LSR Lodestar Minerals 0.005 0% 0% -17% 0% $10,116,987 NWM Norwest Minerals 0.03 0% -6% 0% -25% $8,627,085 AOA Ausmon Resorces 0.0035 0% 17% 17% -42% $3,524,498 VKA Viking Mines Ltd 0.009 -10% 0% -10% 29% $10,252,584 IPT Impact Minerals 0.01 11% 0% -17% 67% $25,782,335 SRI Sipa Resources Ltd 0.021 0% -5% 5% -58% $4,791,321 VMC Venus Metals Cor Ltd 0.105 0% 5% -16% 25% $19,921,512 RGL Riversgold 0.0095 -5% -5% -27% -78% $9,512,615 ZNC Zenith Minerals Ltd 0.089 0% -7% -19% -69% $31,361,899 RAS Ragusa Minerals Ltd 0.039 8% 22% 5% -82% $5,133,556 G88 Golden Mile Res Ltd 0.018 6% -10% -40% -29% $5,599,622 EPM Eclipse Metals 0.01 0% -9% -23% -47% $20,280,598 EVR Ev Resources Ltd 0.011 0% 0% -15% -45% $10,392,578 WC8 Wildcat Resources 0.72 -16% 24% 62% 2082% $895,130,574 MNS Magnis Energy Tech 0.056 -24% -24% -24% -85% $88,762,863 RIO Rio Tinto Limited 117.31 -1% 5% 3% 32% $43,914,878,116 THR Thor Energy PLC 0.027 4% 13% -29% -64% $4,584,749 YAR Yari Minerals Ltd 0.017 0% 17% -6% -23% $8,200,083 MXR Maximus Resources 0.04 0% 8% 38% -2% $12,824,231 DRE Dreadnought Resources Ltd 0.031 3% -26% -34% -73% $103,708,359 MM1 Midasmineralsltd 0.15 0% 0% 0% -17% $12,982,087 M2R Miramar 0.023 -12% -32% -34% -73% $3,870,608 LLI Loyal Lithium Ltd 0.415 -6% -8% -37% -7% $35,825,292 LRD Lordresourceslimited 0.065 0% 5% -7% -80% $2,413,588 WMC Wiluna Mining Corp 0.205 0% 0% 0% 0% $74,238,031 AUN Aurumin 0.029 0% 4% 7% -64% $9,234,849 ZEO Zeotech Limited 0.04 -2% -17% -26% 5% $69,942,846 ALY Alchemy Resource Ltd 0.01 0% -9% -13% -70% $11,780,763 LIS Lisenergylimited 0.23 -2% 2% 10% -44% $150,447,054 GW1 Greenwing Resources 0.13 0% 0% -4% -60% $22,652,693 KTA Krakatoa Resources 0.024 26% 33% 9% -61% $8,263,060 TYX Tyranna Res Ltd 0.017 6% 6% 0% -64% $52,582,805 DAF Discovery Alaska Ltd 0.015 -17% -21% -21% -52% $4,216,225 FTL Firetail Resources 0.105 0% 5% 6% -43% $15,635,083 IR1 Irismetals 1.53 -2% -3% -22% -10% $189,438,572 LNR Lanthanein Resources 0.007 17% 17% -13% -77% $6,729,453 DAL Dalaroometalsltd 0.03 0% -25% -42% -75% $2,448,000 TKM Trek Metals Ltd 0.052 2% 33% -5% -25% $25,379,644 CY5 Cygnus Metals Ltd 0.19 6% 52% 19% -63% $52,207,675 TUL Tulla Resources 0 0% -100% -100% -100% $118,262,971 WES Wesfarmers Limited 50.27 0% -2% -5% 14% $56,881,060,239 LLL Leolithiumlimited 0.505 0% 0% 0% -19% $498,553,663 OCN Oceanalithiumlimited 0.145 7% 0% -36% -70% $7,165,328 A11 Atlantic Lithium 0.39 -1% -15% -18% -39% $241,835,456 CMD Cassius Mining Ltd 0.034 0% -3% 10% 13% $16,888,759 VSR Voltaic Strategic 0.022 0% 10% -24% 10% $10,628,286 SGQ St George Min Ltd 0.044 7% 22% 10% -27% $34,709,574 LLO Lion One Metals Ltd 1 0% -7% 1% 33% $14,280,040 PAT Patriot Lithium 0.21 24% 24% 20% 0% $10,860,875 PL3 Patagonia Lithium 0.12 0% -20% 0% 0% $5,880,420 BUR Burleyminerals 0.2 -5% 5% 11% 8% $21,272,319 CHR Charger Metals 0.18 13% 13% 44% -60% $9,938,299 RMX Red Mount Min Ltd 0.004 0% -11% 14% -11% $10,694,304 DLI Delta Lithium 0.58 -3% -6% -23% 7% $317,589,951 LM1 Leeuwin Metals Ltd 0.27 6% -8% 8% 0% $11,420,175 FIN FIN Resources Ltd 0.029 4% 38% 142% 26% $17,388,990 DTM Dart Mining NL 0.019 0% -4% -8% -70% $3,683,066 NIS Nickelsearch 0.056 0% 14% -2% -56% $8,976,650 EG1 Evergreenlithium 0.245 7% 11% -13% 0% $12,932,900 MAN Mandrake Res Ltd 0.035 6% 6% -13% -3% $19,759,077 FBM Future Battery 0.091 -1% -8% -21% 57% $46,911,351 XTC Xantippe Res Ltd 0.001 0% 0% 0% -76% $17,528,005 LPM Lithium Plus 0.47 -3% 32% 0% -16% $32,004,277 KOB Kobaresourceslimited 0.07 -4% 4% -13% -73% $7,695,417 IEC Intra Energy Corp 0.0035 -13% -13% -30% -42% $6,643,126 REC Rechargemetals 0.125 14% -11% -38% -22% $12,248,717 SLM Solismineralsltd 0.25 -2% 14% 4% 285% $19,817,123 AZS Azure Minerals 3.48 -1% 43% 29% 1265% $1,560,175,341 DYM Dynamicmetalslimited 0.165 0% 0% -20% 0% $5,775,000 SBR Sabre Resources 0.04 0% 21% 18% -20% $11,659,447 ICL Iceni Gold 0.063 -2% -3% -17% -10% $15,350,857 TMX Terrain Minerals 0.005 0% 0% 0% -17% $6,767,139 MHC Manhattan Corp Ltd 0.005 0% -17% -29% -29% $14,684,899 MHK Metalhawk. 0.11 0% 29% 16% -41% $8,664,811 NKL Nickelxltd 0.059 2% 9% 4% -62% $5,093,280 ANX Anax Metals Ltd 0.035 0% -3% -3% -41% $15,046,637 PMT Patriotbatterymetals 1.16 -8% 0% -7% 0% $451,665,301 BM8 Battery Age Minerals 0.215 -14% 2% -20% -57% $22,284,222 L1M Lightning Minerals 0.125 -4% -7% 4% 0% $5,294,258 ADG Adelong Gold Limited 0.007 8% 17% 0% -13% $3,876,095 TOR Torque Met 0.185 -12% 23% -46% 0% $25,341,752 AL8 Alderan Resource Ltd 0.012 0% 20% 20% 50% $7,400,336 OZM Ozaurum Resources 0.094 12% 12% -6% 19% $13,335,000 FL1 First Lithium Ltd 0.35 -4% 35% 43% 94% $25,568,858 PLN Pioneer Lithium 0.315 17% 5% -18% 0% $7,674,750 WYX Western Yilgarn NL 0.078 7% 0% -15% -29% $3,624,998 RDN Raiden Resources Ltd 0.035 -5% 35% 13% 309% $86,427,011 PFE Panteraminerals 0.065 5% -4% 14% -32% $6,638,498 GRE Greentechmetals 0.41 9% 49% 3% 173% $21,310,833 OLY Olympio Metals Ltd 0.15 0% -6% -9% -17% $9,539,925 SUM Summitminerals 0.089 -3% -2% -23% -53% $4,384,456 JBY James Bay Minerals 0.31 3% 9% -18% 0% $9,733,500 JNO Juno 0.08 0% 3% 7% -19% $10,852,640 CC9 Chariot Corporation 0.29 14% 0% 0% 0% $18,699,550 OBM Ora Banda Mining Ltd 0.15 -6% 30% 36% 95% $272,871,179

WordPress Tables Plugin

PAT is taken higher… oh yes

Patriot Lithium (ASX:PAT)

PAT has rocked down to Electric Avenue, and that might take it higher. Oh no yes.

Don’t blame me for the ye olde lyrical referencing – our editor insisted. It’s all his fault… honest.

Fact is, though, PAT is up today on the back of the acquisition of an additional 536km2 of highly prospective claims in the “Electric Avenue” lithium district, in North-West Ontario, Canada.

$PAT has added claims adjacent to Gorman in the “Electric Avenue”
The ground adjoins Frontier Lithium and has over 70km of strike covering the Bearhead Lake Fault
– outcropping pegmatites
– between PAK-Spark and Gormanhttps://t.co/lz2Fzp4XMm #lithium #exploration #ontario pic.twitter.com/PCOdXC0ulX

— Patriot Lithium Ltd (@Patriot_Lithium) October 31, 2023

This will make Patriot Lithium the largest claim holder in the lithium-rich district. That might take it higher, indeed.

The company notes:

“Upon exercise of its relevant option, Patriot will have a semi-contiguous regional claim packag eexceeding 890km2. The newly acquired claims cover several unexplored lithium-caesium-tantalum (LCT) pegmatite occurrences up to 40m wide.

“Patriot’s claims now adjoin and partially surround Frontier Lithium’s (TSXV: FL) claims to the south east that contain the world-class PAK-Spark Project, one of the largest and highest-grade lithium deposits in North America and which has announced intercepts including 398m at 1.88% Li2O2.

PAT share price chart

And, in other major ASX-housed lithium news…

A beleaguered Liontown Resources (ASX:LTR) has noted today that its Kathleen Valley project is more than 50% complete, with a clear line of sight to first production mid-2024.

During the September quarter, Liontown awarded the final major mining and construction contracts for Kathleen Valley, bringing capital costs committed to approximately 90% and de-risking the pathway to first production.

LTR share price chart

At Stockhead we tell it like it is. While Krakatoa Resources and Patriot Lithium are Stockhead advertisers at the time of writing, they did not sponsor this article.

The post Eye on Lithium: Krakatoa simmers on the ASX, while Patriot rocks down to Electric Avenue appeared first on Stockhead.