FL1 has made an impressive lithium hit in Mali, surging it +70%
\nBastion Minerals gains lithium, REE and gold projects in WA
\nGodolphin Resources is selling two NSW projects to concentrate on REE
\nEnova and MetalsTech also among the gainers<\/p>\n
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Here are some of the biggest resources winners in early trade, Wednesday December 20.<\/em><\/p>\n \u00a0<\/p>\n Recently we reported<\/a> that \u201cthe true scale potential of First Lithium\u2019s Blakala lithium prospect in Mali is starting to emerge\u201d. Well, today, it has very much become highly emergent, with FL1 sporting the loudest voice on the ASX this morning after coming off a brief trading halt.<\/p>\n It\u2019s currently up +70% on the back of a big find at Tier 1 priority target Blakala, part of the Gouna project, including \u2013 in the first three holes \u2013 a 111m intersection at 1.57% Li2O.<\/p>\n And that result there also included a\u00a010m chunk grading 3.39% Li2O from 33m depth.<\/p>\n Stockhead\u2019s Reuben Adams was overheard earlier saying something like: \u201cThat\u2019s high grade! It\u2019s also exceptionally thick and shallow.\u201d<\/p>\n Another hole brought similar results: 60m intersection at 1.59% Li2O (from 39m), including 38m at 1.76% Li2O (from 51m).<\/p>\n First Lithium #FL1<\/a> is pleased to announce a Significant Discovery confirmed at #Blakala<\/a> including 111m @ 1.57% Li2O<\/p>\n Spodumene mineralisation is high grade, outcrops at surface, and is open at depth and along strike pic.twitter.com\/J2oLGKfmne<\/a><\/p>\n \u2014 First Lithium Ltd (@FirstLithiumLtd) December 19, 2023<\/a><\/p>\n\n FL1 says that the results back up the visual estimates of the spodumene percentages in the core samples, with the spod mineralisation deemed high grade, outcropping at surface, and open at depth and along strike.<\/p>\n Further core samples \u2013 726 of them \u2013 are being assessed with results expected in early January.<\/p>\n Source: FL1<\/p>\n It\u2019s fair to say that these results further justify why Blakala was one of only two Tier 1 priority targets in Mali ranked by CSA Global in 2008, the other being Leo Lithium\u2019s (ASX:LLL)<\/strong><\/a> 211Mt Goulamina project \u2013 the fifth largest hard rock deposit in the world.<\/p>\n FL1 MD Venkat Padala said: \u201cThe laboratory results have delivered the outstanding grades we were all anticipating based on the previous visual estimates.<\/p>\n \u201cThe grades and depth of the discovery in this region provide further confidence the Blakala prospect could deliver a significant high grade mineral resource in 2024 as the grades and depth of results to date at Blakala provide great confidence for the project.\u201d<\/p>\n Drilling is set to continue and a\u00a0maiden resource is pencilled in for 2024.<\/p>\n FL1 share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> This small copper, lithium and green metals hunter is committed to decarbonisation for a sustainable fut\u2026 etc etc. In other words, it\u2019s part of possibly the biggest narrative that\u2019s shaping the mining sector \u2013 certainly if you believe Elon Musk when he says that \u201clithium batteries are the new oil\u201d.<\/p>\n Why\u2019s BMO up more than 20% at the time of key tapping, though? We\u2019ll tell you.<\/p>\n The company has just signed two agreements to acquire two highly prospective lithium, REE and gold projects in Western Australia.<\/p>\n The lithium and REE operation is in the Gascoyne region and is known as the Morrissey lithium project and comprises 15.58km2 of ground within the \u201cVolta Corridor\u201d \u2013 an 80km long WNW trend that\u2019s prospective for LCT lithium-bearing pegmatites.<\/p>\n The other site \u2013 the Split Rock Dam project \u2013 is in the Mt Ida Goldfields area, and is 38.54km2 of ground prospective for lithium and gold.<\/p>\n The company notes that Split Rock Dam abuts and is immediately adjacent to tenure involved in the most recent major transaction in the area, a subsidiary of Wesfarmers (ASX:WES)<\/strong><\/a> executing a $26 million transaction on lithium and gold rights held by Ora Banda (ASX:OBM)<\/strong><\/a> announced on October 30.<\/p>\n Also, these are both popular areas of focus, following Delta Lithium\u2019s (ASX:DLI)<\/strong><\/a> recent drilling success out there.<\/p>\n The total cost of both acquisitions is $1 million\u2026 (cue Dr Evil meme, someone), which will be realised by Bastion via the issue of 71,428,571 fully paid ordinary shares in the company to Critical Minerals Morrissey (and its shareholders) and Syndicate Metals.<\/p>\n And that\u2019ll be \u201cat a deemed issue price of AUD$0.014 per share (subject to shareholder approval), in addition to a net smelter royalty of 1.5% payable to the vendors\u201d.<\/p>\n Management\u2019s delight spotted in tweet below:<\/p>\n #ASXNews<\/a>$BMO.AX<\/a> is pleased to announce the execution of two agreements to acquire two highly prospective #lithium<\/a>, #REE<\/a> and #gold<\/a> projects, the Morrissey Project & Split Rock Dam Project, in WA, which expand the Company\u2019s portfolio of tenements.https:\/\/t.co\/ShOvlS6m8a<\/a> pic.twitter.com\/6KlfMHgMha<\/a><\/p>\n \u2014 Bastion Minerals Limited (@BastionLimited) December 19, 2023<\/a><\/p>\n\n BMO share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> This small NSW-focused minerals explorer is up and to the right to the tune of about 28% at the time of writing, with its share price reaching its highest mark since July 10.<\/p>\n The company has announced it\u2019s selling the Lewis Ponds\u00a0 and Mt Bulga projects (gold and base metals) for $11 million in cold, hard cash. Or at least a bank transfer, presumably.<\/p>\n This, notes the company, will provide GRL with a good chunk of funding to \u201crapidly advance its flagship Narraburra Rare Earths project in central west NSW, along with its other advanced stage exploration projects.\u201d<\/p>\n Battery metals focused explorer Minerals Pty Ltd is the buyer, according to GRL\u2019s announcement.<\/p>\n GRL MD Jeneta Owens described the sale as \u201ca transformative transaction for Godolphin\u201d.<\/p>\n And in other recent Godolphin news, this\u2026<\/p>\n Yeoval Copper-Gold Project RC Drilling Completed and New Targets Identified at Vaughans Ridge<\/p>\n Drilling targeted multiple structural zones w\/ the potential to host high-grade #copper<\/a> mineralisation \u2013 program completed on time and under budgethttps:\/\/t.co\/MRmuRAqVid<\/a> $GRL<\/a> $GRL.ax<\/a> pic.twitter.com\/nsfL1dvLMp<\/a><\/p>\n \u2014 Godolphin Resources Limited (@GodolphinASX) December 18, 2023<\/a><\/p>\n\n GRL share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> MetalsTech, a long-time gold project developer which joined the lithium hunt this year, is up after it announced this morning it\u2019s brought Hong Kong-based financial services firm Minmetals Securities on board as a strategic advisor.<\/p>\n And that\u2019s to essentially coordinate a strategic process and provide corporate and investor relations advice with regards to a potential<\/em> transaction involving MTC\u2019s Sturec gold Mine in Slovakia.<\/p>\n The plot thickens, possibly.<\/p>\n Apparently Minmetals has been engaged to oversee \u201ca\u00a0process involving eight potential strategic parties from China and four potential strategic parties of Western origin\u201d with discussions at various advanced stages.<\/p>\n A lot of potentials and possibles going on there. In any case, shareholders seem to like the news.<\/p>\n Recently, MTC released\u00a0a \u201crobust\u201d scoping study regarding the Sturec mine.<\/p>\n The study highlighted \u201chighly encouraging economics and technical viability\u201d for the mine, emphasising its potential to become a low-cost gold and silver concentrate producer\u201d.<\/p>\n MTC share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> (Up on\u2026 news from Dec 18?)<\/strong><\/em><\/p>\n Earlier this week, this sub-$10m market capped critical minerals hunter announced it\u2019s all set to acquire highly prospective Caldeira REE and Brazilian Lithium Valley tenements.<\/p>\n There\u2019s been no news in the couple of days since, so let\u2019s assume ENV\u2019s +30% bump has something or everything to do with that.<\/p>\n The company has entered into a binding option agreement to acquire 100% of the Po\u00e7os, Juquia, Resplendor, Carai, Santo Antonio and Salinas East prospects \u2013 all in Brazil comprising some 675.79km2 of land.<\/p>\n The majority of the tenements are located in Brazil\u2019s renowned Po\u00e7os deCaldas\/Caldeira Rare Earth complex and \u201cLithium Valley\u201d in the mining state of Minas Gerais.<\/p>\n Importantly for shareholders, the tenements are close to several world class deposits, including Sigma Lithium<\/strong>\u2019s Grota do Cirilo Resource (77Mt at 1.43% Li2O + 8.5Mt at 1.43% Li2O Inferred) and Latin Resources\u2019 (ASX:LRS)<\/strong><\/a>\u00a0Salinas Project (45.2Mt at 1.32% Li2O).<\/p>\n ENV share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span><\/p>\n \u00a0<\/p>\n At Stockhead we tell it like it is. While First Lithium is a Stockhead advertiser, it did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 5: Thick, shallow AND high grade \u2013 First Lithium strikes in Mali<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"First Lithium (ASX:FL1)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nBastion Minerals (ASX:BMO)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nGodolphin Resources (ASX:GRL)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nMetalsTech (ASX:MTC)<\/strong><\/a><\/h2>\n
\n\u00a0<\/p>\nEnova Mining (ASX:ENV)<\/strong><\/a><\/h2>\n