Spain-focused Infinity Lithium grabs the ressie ball and runs with it this morning, bursting up 47%
\nMeanwhile, Ronin Resources is cutting a swathe through lithium-hunting competition in Canada\u00a0
\nAnd it\u2019s clearly all about lithium today, because TG6, KRA and FL1 are all jostling for attention, too<\/p>\n
Here are the biggest resources winners in early trade, Monday November 13.<\/p>\n
\u00a0<\/p>\n
Infinity Lithium is rocketing up the bourse today thanks to an announcement it\u2019s made regarding significant Spanish government funding received by Tecnolog\u00eda Extreme\u00f1a del Litio for advancement of the San Jos\u00e9 lithium project \u2013 which, you can probably gather, is in Spain.<\/p>\n
It\u2019s an award of \u20ac18.8 million(A$31 million) grant funding from the government\u2019s Ministry of Industry, Trade and Tourism, and INF\u2019s MD and CEO Ryan Parkin is describing it as a \u201csignificant milestone\u201d for Infinity Lithium and the project, of which it owns 75%.<\/p>\n
Spain appears to be laying some serious chips on the table when it comes to advancing operations in the electric vehicle battery chain. It\u2019s now awarded a total of \u20ac528.7 million to 26 major projects, including \u20ac200 million to the Extremadura giga-factory.<\/p>\n
The San Jos\u00e9 project is in the Extremadura region of Spain and boasts the EU\u2019s second-largest JORC-compliant hard rock lithium resource.<\/p>\n
A recent scoping study by INF assessed potential for a \u201csignificant increase\u201d in production of battery-grade lithium hydroxide monohydrate from the company\u2019s proposed integrated lithium chemical conversion facility.<\/p>\n
Parkin continued:<\/p>\n
\u201cThe company welcomes the government\u2019s commitment to recognising the critical importance of lithium and its endorsement of the project. These first funding commitments for the processing of critical raw materials in Spain places the company at the forefront of future funding pathways at both the national and European level.\u201d<\/p>\n
@InfinityLithium<\/a> is pleased to announce the award of an \u20ac18.8 million\u00a0grant from the Spanish Government for the advancement of the San Jos\u00e9 #Lithium<\/a> Project.<\/p>\n For full details please see https:\/\/t.co\/uq25TJPOK4<\/a>$INF<\/a> pic.twitter.com\/hK8i6z2h51<\/a><\/p>\n \u2014 Infinity Lithium (@InfinityLithium) November 12, 2023<\/a><\/p>\n\n INF is currently up about 8.3% YTD.<\/p>\n INF share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n This junior explorer sliced its way to to the top of the daily ressie gainers pack earlier, but specific company news from the past 24 hours or so doesn\u2019t appear to be readily visible.<\/p>\n We can tell you, though that, beyond its flagship Colombian projects, including Vetas, a large, high-grade thermal coal operation, it\u2019s also joined the recent frothy hunt for white gold in Canada. Lithium, that is.<\/p>\n It\u2019s been focusing on the Hornby Lake lithium project in Ontario, where, about a week ago on Nov 6, it confirmed the sighting of numerous pegmatites, which it\u2019s in the process of assessing for LCT-based mineralisation.<\/p>\n Those assay results are expected some time in December.<\/p>\n Familiar shot of geologist on peggie incoming\u2026<\/p>\n Source: Ronin Resources ASX announcement, Nov 6.<\/p>\n RON is up about 18% YTD.<\/p>\n RON share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Last Friday, Lake Johnston-focused lithium explorers were firmly in the spodlight, and\u00a0TG Metals has today dodged the long hook, refusing to budge from the stage.<\/p>\n It has further news regarding its activities in that particular WA greenstone belt, revealing this morning it\u2019s expanded its lithium soil anomaly associated with its Burmeister spodumene pegmatite discovery.<\/p>\n The new lithium-targeting ground is dubbed the Jaegermeister prospect, and is larger in scale than the Burmeister soil anomaly, covering some 5.7km in strike and 2.3km in width. Analogies to the massive Earl Grey pegmatite, host of SQM and Wesfarmers\u2019 (ASX:WES)<\/a> global top 10 Mt Holland lithium resource, were sure to capture the eye as well.<\/p>\n Drilling preparations are underway.<\/p>\n \u25a0 #Lithium<\/a> soil anomaly associated with Burmeister spodumene pegmatite discovery extended https:\/\/t.co\/XvePfKaia2<\/a>#TG6<\/a> pic.twitter.com\/6PJIqX9NIc<\/a><\/p>\n \u2014 TG Metals Limited (@TGMetals) November 12, 2023<\/a><\/p>\n\n TG Metals CEO David Selfe said this about it:<\/p>\n \u201cSince the discovery of the spodumene pegmatites at Burmeister, the deposit models we have been considering have been based on the Earl Grey lithium mine area. With this in mind, the lithologies at Jaegermeister were always going to be a target.<\/p>\n \u201cThe current drilling at Burmeister, targeting up dip, down dip and along strike of the known high grade lithium pegmatites, will provide knowledge we can apply to the Jaegermeister area and provides us with another quality drill target for early 2024. We are eagerly anticipating the next drilling results from Burmeister, which we expect assays back in the next two weeks.\u201d<\/p>\n TG6 is up 900% YTD.<\/p>\n TG6 share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n Krakatoa was, for a time, king of the mountain last week. Today, its gains (currently +26%) are bubbling up once more, although we\u2019re not seeing fresh news this week thus far.<\/p>\n Let\u2019s quickly reprise its recent explosive news:<\/p>\n The critical minerals-hunting junior erupted on news of pegmatite intersections of the thick kind, at the former tantalum mine that is King Tamba \u2013 now a site with strong lithium-caesium-tantalum potential.<\/p>\n We\u2019re talking up to 39m pegmatite under the 4.3% Li20 rock chip at the Wilsons prospect at the 42km2 King Tamba in WA\u2019s mid west, where KTA recently began a reverse circulation (RC) drill program to test high-grade lithium targets.<\/p>\n The company reports that a total of 16 holes have now been drilled beneath high-grade lithium oxide rock samples, with 1,806 metres completed.<\/p>\n And of those 16 holes, 13 have hit pegmatites with consistent intersections of flat-lying pegmatite logged from a depth of 70 metres.<\/p>\n Special Report: Krakatoa Resources has completed drilling at its King Tamba project in WA\u2019s Mid West region, which has been expanded after the intersection of a thick pegmatite with a width of up to 39m under the target area. https:\/\/t.co\/rNqrVRLrxP<\/a> #ad<\/a> #ASX<\/a> @Krakatoa_Res<\/a><\/p>\n \u2014 Stockhead (@StockheadAU) November 8, 2023<\/a><\/p>\n\n KRA is now up about 115% over the past 30 days, but is still down a fraction (-2.27%) YTD.<\/p>\n KRA share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n First Lithium has revealed it\u2019s sighted spodumene-bearing pegmatite in all eight holes from its drilling at the Blakala prospect in Mali, Africa. And the price action earlier this morning indicated there\u2019s some excitement surrounding the news. <\/span><\/p>\n That +25% early surge has since cooled and there\u2019s actually been a pause on trading for now, \u201cpending a further announcement\u201d.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n A total of 912m has now been completed as part of the company\u2019s monster 6,000m diamond drilling campaign, and today\u2019s news continues the company\u2019s good form with it thus far.<\/p>\n All holes have reportedly intersected significant spod mineralisation and remain open at depth and along strike to the north and south. FL1 highlights three holes in particular, with mineralisation at 115.5m, 73.55m and 67.28m.<\/p>\n Assay results are expected in about 2-3 weeks and deeper drilling is planned.<\/p>\n First Lithium #FL1<\/a> is pleased to announce Spodumene mineralised pegmatite intersected in all 8 holes drilled at #Blakala<\/a><\/p>\n Assays will be fast tracked with results from the first holes expected in 2-3 weeks pic.twitter.com\/MaR1TdbKMp<\/a><\/p>\n \u2014 First Lithium Ltd (@FirstLithiumLtd) November 12, 2023<\/a><\/p>\n\n Per one of our recent special reports<\/a>, Blakala sits within the company\u2019s Gouna permit in Mali and was first identified as having lithium bearing spodumene in the 1960s by Russian geologists.<\/p>\n It\u2019s one of two Tier 1 priority lithium targets in the country ranked by CSA Global in 2008 \u2013 the other being Leo Lithium\u2019s 211Mt Goulamina joint venture project with Ganfeng.<\/p>\n Both prospects have clear similarities making Blakala a possible geological mirror of Goulamina.<\/p>\n FL1 is up 191% YTD so far having rebadged and relisted in September.<\/p>\n<\/div>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n At Stockhead we tell it like it is. While First Lithium and Krakatoa Resources are Stockhead advertisers at the time of writing, they did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 5: It\u2019s to Infinity and beyond (47pc) for INF and its Spanish lithium hunt<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Ronin Resources (ASX:RON)<\/strong><\/a><\/h2>\n
TG Metals (ASX:TG6)<\/strong><\/a><\/h2>\n
\u25a0 Anomaly now covering 5.7km in strike x 2.3km wide
\u25a0 Anomaly covers lithologies considered favourable to host pegmatites
\u25a0 Drilling Prep’s underway<\/p>\nKrakatoa Resources (ASX:KTA)<\/strong><\/a><\/h2>\n
First Lithium (ASX:FL1)<\/strong><\/a><\/h2>\n