{"id":11681,"date":"2024-07-01T02:46:39","date_gmt":"2024-07-01T02:46:39","guid":{"rendered":"https:\/\/economicherald.net\/?p=11681"},"modified":"2024-07-01T02:46:39","modified_gmt":"2024-07-01T02:46:39","slug":"lycaon-dominates-ballot-for-lithium-copper-tenement","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11681","title":{"rendered":"Lycaon dominates ballot for lithium-copper tenement"},"content":{"rendered":"<p>Lycaon Resources has won its ballot for tenement E45\/6809 in the Pilbara<br \/>\nThe exploration ground is adjacent to projects held by Kali Metals and SQM<br \/>\nA detailed review of historical work will be completed in the coming months <\/p>\n<p>\u00a0<\/p>\n<p><strong>Special report: Lycaon has won the ballot for an exploration licence in WA\u2019s Pilbara region, adjacent to projects held by Kali Metals and mega lithium producer SQM. <\/strong><strong>\u00a0<\/strong><\/p>\n<div><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span><span class=\"mce_SELRES_start\"><\/span><span class=\"mce_SELRES_start\"><\/span><\/div>\n\n<p>WA\u2019s Pilbara region, ~1,280km north of Perth, has been a hotbed of exploration activity over the years from gold to iron ore and more recently, lithium.<\/p>\n<p>Its abundance of these minerals has drawn the attention of major miners, looking to invest in small cap explorers and seek out attractive M&amp;A opportunities, the most recent example being the takeover of Azure Minerals by joint bidders SQM and Gina Rinehart\u2019s Hancock Prospecting in a $1.7bn deal.<\/p>\n<p>AZS carried out a total of 113,419m of lithium-focused drilling at its Andover project before the company was sold via a scheme of arrangement for $3.70 a share.<\/p>\n<p>But SQM, one of the world\u2019s largest lithium producers, is also earning an initial 30% and up to 70% interest in <a href=\"https:\/\/stockhead.com.au\/company\/kali-metals\/\">Kali Metals\u2019 (ASX:KM1)<\/a> DOM\u2019s Hill and Marble Bar project with <a href=\"https:\/\/stockhead.com.au\/company\/kalamazoo-resources-kzr\/\">Kalamazoo Resources (ASX:KZR).<\/a><\/p>\n<p>\u00a0<\/p>\n<h2><strong>LYN locks in Myrnas Hill <\/strong><\/h2>\n<p>Now <a href=\"https:\/\/stockhead.com.au\/company\/lycaon-resources-lyn\/\">Lycaon Resources (ASX:LYN)<\/a> has won a ballot for exploration licence E45\/6809 against four other applicants, immediately adjacent to KM1\u2019s Marble Bar and DOM\u2019s Hill assets, covering the historical copper-gold prospect Myrnas Hill.<\/p>\n<p>Previous rock chip samples on the prospect have returned up to 42% copper, 6.49 g\/t gold and 47.7 g\/t silver, demonstrating a polymetallic nature of mineralisation may be present.<\/p>\n<p>It gives Lycaon the potential to make discoveries in two of the critical markets linked to the energy transition \u2013 lithium and copper.<\/p>\n<p>\u00a0<\/p>\n<p>Myrnas Hill prospect on tenement E45\/6809. Pic: Lycaon Resources<\/p>\n<p>\u00a0<\/p>\n<h2><strong>\u2018Land of lithium giants\u2019 <\/strong><\/h2>\n<p>\u201cWe are extremely pleased with securing this highly prospective tenement,\u201d LYN technical director Thomas Langley says.<\/p>\n<p>\u201cThis area of the Pilbara truly is the land of the lithium giants, and the tenement is located on the Archean greenstone, host to the major lithium mines in the region, with the potential to explore for lithium, copper and gold in this new project area providing an exciting opportunity.<\/p>\n<p>\u201cA detailed geological review of past exploration work on the project area and surrounds will begin alongside site reconnaissance in the coming months with exploration work programs to follow as soon as possible.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>West Arunta heritage survey <\/strong><\/h2>\n<p>Langley says the company is also looking forward to the upcoming heritage surveys at its Stansmore project in the West Arunta, one of the last frontiers for major critical mineral and copper-gold IOCG discoveries in Australia.<\/p>\n<p>\u201cOther explorers in the region such as Encounter Resources are having great success discovering niobium rich mineralisation in their first ever drill programs, and it signifies the extremely prospective and underexplored nature of the West Arunta,\u201d he says.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Lycaon Resources, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/lycaon-dominates-ballot-for-lithium-copper-tenement\/\">Lycaon dominates ballot for lithium-copper tenement<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Lycaon Resources has won its ballot for tenement E45\/6809 in the Pilbara The exploration ground is adjacent to projects held by Kali Metals and SQM <a href=\"https:\/\/economicherald.net\/?p=11681\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11682,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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