What’s moving and shaking in the ASX-centric world of lithium? Let’s take a quick look.
Sayona Mining (ASX:SYA) grabbed us by the attention deficit disorder earlier today after the struggling miner grabbed itself a lift on the back of positive exploration results at its North American Lithium (NAL) project in Quebec, Canada.
The SYA share price was up near 5% in early trade, but has since deflated back to a disappointingly flaccid -5.68% at the time of writing.
Still, new drilling at the project has revealed new high-grade zones with results from 91 drillholes and wedges totalling 26,605m identifying high-grade lithium mineralisation to the north-west, north-east, south-east and below the Mineral Resource Estimate (MRE) pit shell.
NAL is a joint venture project, with Sayona owning 75% of the and Piedmont Lithium (ASX:PLL) holding the other 25%.
In February, Sayona took a hit when PLL announced it would be selling/divesting the shares it owned in the lithium play, for roughly $60m.
Sayona will be welcoming today’s news, however, with the newly discovered zones are poised to become a focal point for NAL’s assessment of future mining options and life of mine.
Sayona’s interim CEO James Brown said that the new discoveries “highlight the potential of the asset” and that the team at NAL will now be working to update the Mineral Resource “incorporating these significant results”.
Some specific highlights include:
North-West Extension – new Pegmatites
• 32.88m at 1.72% Li2O from 269.62m in drillhole LAN-23-094
• 19.35m at 1.63% Li2O from 346.72m in drillhole LAN-23-095
• 20.05m at 1.60% Li2O from 350.75m in drillhole LAN-23-139-W1
Resources Area – Potential Resources Upgrade or Conversion
• 47.50m at 1.29% Li2O from 402.85m in drillhole LAN–23–034
• 25.65m at 1.56% Li2O from 320.75m in drillhole LAN–23–044
• 43.25m at 1.48% Li2O from 377.75m in drillhole LAN–23–053A
What else is making news?
Errawarra Resources (ASX:ERW) has been leading the ressie pack for most of the day today, with the market reacting strongly to a touch of “nearology” amid a “stacked pegmatite swarm” discovery at its 100kkm2+ Andover West project in the Pilbara.
That’s a highly prospective project about 40km east-southeast of Karratha, WA, and just south of Azure Minerals’ (ASX:AZS) Andover LCT Pegmatite project (now owned by SQM/Hancock).
ERW has located a roughly 1.6km x 1km pegmatite swarm with a highly anomalous lithium soil trend that it notes has peak 325ppm Li2O. The pegmatites are stacked, low angle and north dipping.
A second strong, anomalous Li soil trend with a peak of 299ppm lithium has also been found.
Along with the Azure ‘nearology’ aspect, the soil trends are along strike and just 1.7km from Raiden Resources’ (ASX:RDN) lithium pegmatite discovery that has reported 3.8% Li2O rock chip.
At the time of writing, ERW is still up a very healthy 64% or thereabouts, after double bagging it earlier in the day.
Biggish gun Latin Resources (ASX:LRS) is also in the news today after announcing that its Colina resource drilling program is now complete at the company’s 100% owned Salinas Lithium Project in Brazil.
“The latest high-grade results have continued to confirm the continuity of thickness, consistency, and quality of the Colina deposit lithium mineralisation,” writes the company.
An upgrade of the Colina Deposit Mineral Resource Estimate (“MRE”) (current MRE: 63.5Mt @ 1.3% Li2O1) is expected for a May 2024 delivery, following completion and receipt of all assay results from the Resource Drilling Program.
Brazil is emerging as a globally significant hard rock lithium supplier centred within the “Lithium Valley” in Minas Gerais State, a well-established mining region with major iron ore operations.
Not far from Latin Resources’ (ASX:LRS) Salinas is Canadian miner Sigma Lithium which is already producing from its 109Mt @ 1.41% Li2O Grota do Cirilo mining complex at a run rate of 270,000tpa.
Read more on this > here.
ASX lithium form guide
Intraday gainers and losers near close of play as follows…
CODE Company Price % 24Hr % Week % Month % YTD Market Cap ADV Ardiden Ltd 0.155 0% 0% -6% -2% $9,690,213 AGY Argosy Minerals Ltd 0.125 0% 4% -11% -1% $175,550,937 1MC Morella Corporation 0.0025 -17% -17% -17% 0% $18,536,398 AML Aeon Metals Ltd. 0.008 14% 14% 60% 0% $7,674,804 ASN Anson Resources Ltd 0.125 0% 0% 19% -2% $161,316,026 AVZ AVZ Minerals Ltd 0.78 0% 0% 0% 0% $2,752,409,203 CXO Core Lithium 0.15 0% 7% -3% -10% $320,540,332 EMHDA European Metals Hldg 0.44 5% 7% 47% 2% $50,252,564 EUR European Lithium Ltd 0.047 -6% -8% -25% -6% $69,906,132 GLN Galan Lithium Ltd 0.2875 -9% 1% -26% -40% $130,108,858 INF Infinity Lithium 0.053 0% 6% -20% -5% $24,517,381 INR Ioneer Ltd 0.205 -7% 5% 3% 6% $511,635,236 JLL Jindalee Lithium Ltd 0.555 -3% -8% -15% -49% $34,781,817 LIT Lithium Australia 0.026 -7% -7% -13% 0% $34,224,167 LKE Lake Resources 0.062 -5% 5% -2% -7% $107,852,445 LPD Lepidico Ltd 0.003 50% 0% -25% 0% $17,178,239 LPI Lithium Pwr Int Ltd 0 0% -100% -100% -55% $361,898,974 LTR Liontown Resources 1.38 -1% 13% 2% -27% $3,394,297,932 MIN Mineral Resources. 76.22 -1% 2% 6% 622% $15,111,560,274 MLS Metals Australia 0.021 0% 0% -5% -2% $14,854,760 AKE Allkem Limited 0 0% -100% -100% -983% $6,304,350,967 PLL Piedmont Lithium Inc 0.195 -3% -3% -7% -24% $84,802,060 PLS Pilbara Min Ltd 4.075 -2% -3% 4% 13% $12,460,244,783 QPM Queensland Pacific 0.042 -5% -5% 11% -1% $88,551,774 PSC Prospect Res Ltd 0.15 -2% -3% 15% 6% $71,928,957 RLC Reedy Lagoon Corp. 0.003 0% 0% -25% 0% $1,858,622 SYA Sayona Mining Ltd 0.0415 -6% 26% 4% -3% $452,905,025 TKL Traka Resources 0.0015 0% 0% 0% 0% $2,625,988 TON Triton Min Ltd 0.015 20% 15% 25% -1% $19,517,408 VUL Vulcan Energy 4.1 5% 21% 43% 125% $674,526,191 GL1 Globallith 0.395 -4% 3% -22% -81% $106,708,773 BMM Balkanminingandmin 0.068 10% 24% 21% -4% $4,404,512 LEL Lithenergy 0.46 -8% -12% -15% -12% $56,000,785 ARN Aldoro Resources 0.065 0% -4% -13% -6% $8,750,543 NMT Neometals Ltd 0.1 -5% -5% -26% -11% $65,395,083 IGO IGO Limited 7.665 -3% -3% 2% -139% $5,997,561,079 AAJ Aruma Resources Ltd 0.015 0% 0% -25% -1% $2,953,373 PAM Pan Asia Metals 0.16 0% 0% 0% 4% $26,850,684 AX8 Accelerate Resources 0.047 4% -4% 21% 1% $27,448,709 AM7 Arcadia Minerals 0.06 0% -18% -37% -1% $6,543,006 AS2 Askarimetalslimited 0.05 0% 0% 0% -13% $4,884,545 BYH Bryah Resources Ltd 0.009 29% 13% 0% 0% $3,048,175 EMS Eastern Metals 0.032 -3% -6% -6% 0% $2,720,066 FG1 Flynngold 0.027 0% -21% -47% -2% $6,872,707 FRS Forrestaniaresources 0.019 0% -10% -34% -1% $3,073,929 GSM Golden State Mining 0.014 8% 27% 17% 0% $3,631,818 IMI Infinitymining 0.06 0% -18% 0% -8% $7,125,203 LRV Larvottoresources 0.09 3% 23% -1% 2% $21,774,213 MMC Mitremining 0.64 -3% 12% 23% 37% $73,515,510 RAG Ragnar Metals Ltd 0.018 0% 0% -5% -1% $8,531,657 CTN Catalina Resources 0.003 0% 0% 0% 0% $3,715,461 TMB Tambourahmetals 0.07 1% 0% -3% -5% $5,722,884 TEM Tempest Minerals 0.01 0% 25% 0% 0% $5,191,244 EMC Everest Metals Corp 0.12 9% 28% 9% 4% $18,071,142 WCN White Cliff Min Ltd 0.016 0% 7% -6% 1% $25,990,199 WML Woomera Mining Ltd 0.004 0% 0% -20% -3% $4,872,556 AZL Arizona Lithium Ltd 0.022 0% 5% -19% -1% $98,251,735 CRR Critical Resources 0.012 -8% 9% -14% -1% $23,112,054 KGD Kula Gold Limited 0.01 -17% 0% 11% -1% $5,837,543 LRS Latin Resources Ltd 0.245 -6% 4% 23% -4% $728,889,060 PNN Power Minerals Ltd 0.13 24% 18% -16% -8% $9,723,529 WR1 Winsome Resources 1.23 -6% -4% -2% 18% $249,928,417 KZR Kalamazoo Resources 0.115 0% 34% 15% -1% $20,102,407 MTM MTM Critical Metals 0.058 2% 0% 5% -1% $16,023,090 QXR Qx Resources Limited 0.012 0% -8% -25% -1% $13,320,934 SCN Scorpion Minerals 0.023 -4% 5% -8% -1% $9,826,949 AZI Altamin Limited 0.04 -2% -5% -20% -2% $17,992,810 ENT Enterprise Metals 0.003 0% 0% 20% 0% $2,654,163 KAI Kairos Minerals Ltd 0.013 8% 8% 0% 0% $31,450,946 STM Sunstone Metals Ltd 0.011 0% -8% -31% 0% $40,323,422 PGD Peregrine Gold 0.22 -4% -2% -2% -2% $15,612,037 AVW Avira Resources Ltd 0.001 -33% 0% 0% 0% $3,995,685 NVA Nova Minerals Ltd 0.245 0% -13% -4% -12% $52,178,519 GT1 Greentechnology 0.1 -5% 0% -23% -19% $33,783,970 BNR Bulletin Res Ltd 0.051 -4% -4% 6% -9% $15,561,506 CAI Calidus Resources 0.1275 -2% 2% -6% -9% $98,973,381 MRR Minrex Resources Ltd 0.0115 0% -4% -12% -1% $12,475,976 A8G Australasian Metals 0.071 -9% -16% 13% -10% $4,065,399 EFE Eastern Resources 0.007 0% 0% -22% 0% $8,693,625 MQR Marquee Resource Ltd 0.014 0% 0% -7% -1% $5,787,381 SRZ Stellar Resources 0.018 -5% 13% 13% 1% $29,514,627 LSR Lodestar Minerals 0.0015 -25% -25% -25% 0% $4,046,795 NWM Norwest Minerals 0.034 6% -19% -23% 1% $12,419,824 AOA Ausmon Resorces 0.0025 0% 25% 25% 0% $2,647,498 VKA Viking Mines Ltd 0.01 -9% 0% 11% 0% $11,277,843 IPT Impact Minerals 0.0215 -2% -2% 54% 1% $63,023,486 SRI Sipa Resources Ltd 0.017 0% -6% 0% -1% $3,878,688 VMC Venus Metals Cor Ltd 0.085 -6% 2% -15% -2% $17,075,581 RGL Riversgold 0.007 17% 17% 0% -1% $5,805,969 ZNC Zenith Minerals Ltd 0.08 -2% -2% -18% -7% $28,895,232 RAS Ragusa Minerals Ltd 0.019 -5% -14% -17% -2% $2,851,976 G88 Golden Mile Res Ltd 0.012 0% 9% -8% -1% $4,934,674 EPM Eclipse Metals 0.011 16% 22% 120% 0% $21,383,127 EVR Ev Resources Ltd 0.009 0% 13% -10% 0% $11,891,443 WC8 Wildcat Resources 0.55 3% 13% -13% -15% $645,511,899 MNS Magnis Energy Tech 0.042 0% 0% 0% 0% $50,378,922 RIO Rio Tinto Limited 129.2 -1% 0% 1% -646% $48,265,532,144 THR Thor Energy PLC 0.017 0% 0% -23% -1% $3,120,416 YAR Yari Minerals Ltd 0.004 0% 0% -20% -1% $1,929,431 MXR Maximus Resources 0.03 0% -12% -10% 0% $9,628,373 DRE Dreadnought Resources Ltd 0.017 -6% 0% -11% -1% $63,235,313 MM1 Midasmineralsltd 0.067 5% -4% -4% -7% $6,460,690 M2R Miramar 0.011 0% 10% -15% -1% $2,046,956 LLI Loyal Lithium Ltd 0.26 -4% 0% -13% -5% $22,514,576 LRD Lordresourceslimited 0.058 0% 14% 5% -1% $3,123,278 WMC Wiluna Mining Corp 0 0% -100% -100% -21% $74,238,031 AUN Aurumin 0.04 -7% 5% -9% 1% $18,992,587 ZEO Zeotech Limited 0.035 -1% -5% 46% 0% $62,246,519 ALY Alchemy Resource Ltd 0.007 0% 0% 0% 0% $8,246,534 LIS Lisenergylimited 0.145 -3% -6% -6% -4% $96,030,035 GW1 Greenwing Resources 0.08 -1% 8% 19% -6% $14,681,370 KTA Krakatoa Resources 0.017 0% -11% 113% -2% $8,025,823 TYX Tyranna Res Ltd 0.009 0% -10% -10% -1% $29,591,328 DAF Discovery Alaska Ltd 0.017 0% 6% -6% 0% $3,981,990 FTL Firetail Resources 0.055 10% 31% 38% -2% $7,445,278 IR1 Irismetals 0.34 -3% 11% -26% -59% $45,337,244 LNR Lanthanein Resources 0.0055 -8% 10% 57% -1% $11,729,453 DAL Dalaroometalsltd 0.025 -4% 19% 56% 0% $2,151,500 TKM Trek Metals Ltd 0.041 -2% 11% -16% 0% $21,565,860 CY5 Cygnus Metals Ltd 0.084 4% 2% 33% -5% $23,616,290 TUL Tulla Resources 0 0% -100% -100% -33% $118,262,971 WES Wesfarmers Limited 68.46 1% 0% 1% 1142% $77,067,345,904 LLL Leolithiumlimited 0.505 0% 0% 0% 0% $498,553,663 OCN Oceanalithiumlimited 0.047 0% -15% -13% -7% $2,541,596 A11 Atlantic Lithium 0.4 0% 1% 7% 1% $259,867,621 CMD Cassius Mining Ltd 0.01 0% 0% 25% -3% $5,420,045 VSR Voltaic Strategic 0.015 0% -21% -6% 0% $7,246,558 SGQ St George Min Ltd 0.02 5% 5% 11% -1% $18,782,268 LLO Lion One Metals Ltd 0.62 0% 0% 0% -32% $9,669,967 PAT Patriot Lithium 0.085 10% 2% -14% -10% $7,142,196 PL3 Patagonia Lithium 0.1 -17% -23% -23% -3% $5,895,420 BUR Burleyminerals 0.175 103% 243% 243% 1% $12,931,901 CHR Charger Metals 0.08 -5% -4% -24% -9% $6,503,301 RMX Red Mount Min Ltd 0.001 0% 0% -33% 0% $2,673,576 DLI Delta Lithium 0.32 3% 7% 7% -15% $221,156,214 LM1 Leeuwin Metals Ltd 0.07 8% -7% 0% -7% $3,045,359 ENT Enterprise Metals 0.003 0% 0% 20% 0% $2,654,163 FIN FIN Resources Ltd 0.012 0% -14% -29% -1% $7,791,224 DTM Dart Mining NL 0.027 -7% 4% -33% 1% $7,494,553 NIS Nickelsearch 0.025 0% 0% -11% -5% $5,338,561 EG1 Evergreenlithium 0.097 0% 5% 7% -9% $5,454,310 MAN Mandrake Res Ltd 0.038 0% 19% 12% -1% $23,436,877 FBM Future Battery 0.05 0% -7% -6% -2% $31,932,345 LPM Lithium Plus 0.098 0% -11% -30% -26% $12,969,320 KOB Kobaresourceslimited 0.115 -12% -4% 16% 5% $20,613,010 EMC Everest Metals Corp 0.12 9% 28% 9% 4% $18,071,142 LRD Lordresourceslimited 0.058 0% 14% 5% -1% $3,123,278 IEC Intra Energy Corp 0.0015 0% -25% -25% 0% $2,536,172 REC Rechargemetals 0.034 0% 0% -24% -6% $4,749,459 SLM Solismineralsltd 0.1 0% 3% -13% -5% $7,742,675 AZS Azure Minerals 3.69 0% 0% 7% -1% $1,692,527,632 DYM Dynamicmetalslimited 0.165 3% 3% -8% 3% $5,760,000 TOR Torque Met 0.16 3% 28% 10% -6% $28,400,464 SBR Sabre Resources 0.018 -5% -5% -5% -2% $7,110,977 ICL Iceni Gold 0.072 -19% 167% 177% 2% $21,943,934 TMX Terrain Minerals 0.004 0% 14% 0% 0% $5,726,683 MHC Manhattan Corp Ltd 0.002 0% 0% -33% 0% $5,873,960 MHK Metalhawk. 0.051 0% -15% -18% -8% $5,134,170 NKL Nickelxltd 0.021 5% 17% -19% -2% $1,756,303 TMB Tambourahmetals 0.07 1% 0% -3% -5% $5,722,884 ANX Anax Metals Ltd 0.062 41% 138% 114% 3% $26,017,952 PMT Patriotbatterymetals 0.8425 -4% 6% -1% -28% $518,400,015 BM8 Battery Age Minerals 0.105 5% 2% 8% -9% $9,176,032 L1M Lightning Minerals 0.092 2% -4% 31% -5% $4,473,420 ADG Adelong Gold Limited 0.004 0% 0% 14% 0% $4,321,956 TOR Torque Met 0.16 3% 28% 10% -6% $28,400,464 AL8 Alderan Resource Ltd 0.005 0% 0% -17% 0% $5,534,307 OZM Ozaurum Resources 0.064 -2% 28% 39% -9% $10,318,750 FL1 First Lithium Ltd 0.24 7% 17% -6% -28% $15,761,625 PLN Pioneer Lithium 0.13 0% -19% -10% -7% $3,695,250 WYX Western Yilgarn NL 0.043 0% -12% -16% -6% $3,952,023 RDN Raiden Resources Ltd 0.046 12% 31% 44% 1% $108,919,989 PFE Panteraminerals 0.039 0% -3% -3% -1% $10,458,497 GRE Greentechmetals 0.19 6% 0% -22% -27% $14,954,396 OLY Olympio Metals Ltd 0.042 0% -13% -31% -6% $2,950,993 SUM Summitminerals 0.105 -5% -32% 54% 1% $5,242,284 JBY James Bay Minerals 0.18 3% 9% -5% -14% $5,714,625 SCN Scorpion Minerals 0.023 -4% 5% -8% -1% $9,826,949 JNO Juno 0.055 -4% -5% -4% -6% $10,370,880 CC9 Chariot Corporation 0.19 0% -10% -30% -35% $15,539,408 OBM Ora Banda Mining Ltd 0.31 0% -2% 3% 7% $575,517,031 RON Roninresourcesltd 0.13 0% 13% 18% -6% $4,787,251 ASR Asra Minerals Ltd 0.007 0% -13% -13% 0% $11,647,970 PFE Panteraminerals 0.039 0% -3% -3% -1% $10,458,497 TG6 Tgmetalslimited 0.28 -3% 10% 22% -11% $15,684,988 HAW Hawthorn Resources 0.067 -4% -11% -6% -3% $23,451,093 KM1 Kalimetalslimited 0.415 1% 1% -1% 0% $31,300,259 AEV Avenira Limited 0.006 0% 9% -25% -1% $14,094,204 DVP Develop Global Ltd 2.3 -5% -4% 1% -53% $587,221,666 LTM Arcadium Lithium PLC 6.96 -3% -3% 5% -425% $2,794,904,309 ERW Errawarra Resources 0.098 63% 138% 145% 5% $9,400,000 LRD Lordresourceslimited 0.058 0% 14% 5% -1% $3,123,278
The post Eye on Lithium: Sayona’s morning lacked glory while Errawarra’s swarming with stacked pegmatites appeared first on Stockhead.
