It\u2019s spod-spotting a-go-go once again in James Bay as Loyal Lithium makes some big, thick finds
\nTG \u201cTethered Goat\u201d Metals is keeping its own recent lithium finds in the spodlight\u00a0
\nAnd Magnum is up on a zero-carbon green pig iron deal with Saudi company Midmetal<\/p>\n
Here are the biggest resources winners in early trade, Wednesday November 1.<\/p>\n
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Loyal Lithium, one of several Aussie explorers in the thick of the spod-hunting action over in the battery metal hotspot of Quebec\u2019s James Bay, is making a lunchtime (+35%) burst up the ASX on the back of an interception of the big, beautiful and thick variety.<\/p>\n
We\u2019re (actually it\u2019s) talking \u201cthick intercepts of spodumene-bearing pegmatite\u201d at LLI\u2019s highly prospective Trieste project.<\/p>\n
$LLI<\/a><\/p>\n This is exactly what you want to see in Cores @LoyalLithium<\/a> <\/p>\n Another Quebec Lithium Deposit being uncovered <\/p>\n All drill holes to date have intercepted spodumene bearing pegmatite at Dyke #01 which remains open in all directions<\/p>\n 74.77m of spodumene bearing pegmatite\u2026 pic.twitter.com\/uWSgNEg5yK<\/a><\/p>\n \u2014 PilbaraWanderer (@PilbaraWandy) October 31, 2023<\/a><\/p>\n\n The company\u2019s drilling program is targeting Dyke #01, which it notes is a \u201clarge, prominent weather-resistant outcrop ridge\u201d, with all drill holes to date successfully intercepting spodumene-bearing pegmatite.<\/p>\n Fourteen drill holes have been completed to date and Dyke #01 remains open in all directions with drill core displaying large and abundant spodumene crystals from surface.<\/p>\n Other highlighted company notes include:<\/p>\n Notable drilling pegmatite cumulative intercepts (apparent widths) of:<\/p>\n \u2013 74.77m of spodumene-bearing pegmatite: DIS23-014<\/p>\n \u2013 30.44m of spod-bearing peggie: DIS23-011<\/p>\n \u2013 27.96m of spod-bearing peggie: DIS23-004<\/p>\n \u2013 26.74m of spod-bearing peggie: DIS23-006<\/p>\n \u2013 24.22m of spod-bearing peggie: DIS23-005<\/p>\n The company adds that samples are now being selected for assaying and those results are expected by January 2024.<\/p>\n Loyal Lithium\u2019s MD, Adam Ritchie, said:<\/p>\n \u201cWe are delighted to have been able to commence this maiden drilling program just 6 weeks after the discovery at the Trieste Lithium Project.<\/p>\n \u201cThe geological understanding gained by this program has confirmed extensions of the spodumene bearing dyke beyond the exposed outcrop, which in turn has confirmed the possibilities of concealed extensions across the entire project.<\/p>\n \u201cThe visual spodumene crystals within the core are large and abundant \u2013 in line with what we\u2019ve seen at surface across the project.\u201d<\/p>\n Also well up today at the time of writing, by the way \u2013 perhaps on a bit of LLI-related nearology action \u2013 is Pinnacle Minerals (ASX:PIM)<\/strong><\/a>.<\/p>\n PIM, an absolute minnow with a $4.6m market cap recently announced it has joined the crowded James Bay lithium party, acquiring a 75% interest in the Adina East lithium project, which is adjacent to LLI\u2019s Treiste in the famed Trieste Greenstone Belt. It\u2019s also just some\u00a024km from Winsome Resources\u2019 (ASX:WR1)<\/strong><\/a> Adina project, which has recorded 1.34% Li2O over 107.6m and grades up to 4.89% Li2O.<\/p>\n LLI share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Lithium, nickel and gold exploration junior TG Metals made waves earlier this week when it surged up the ASX after announcing an interception of high-grade lithium at its Lake Johnston Li-Ni-Au project in the Lake Johnston Greenstone Belt of WA.<\/p>\n Today, the \u201cTethered Goat\u201d \u2013 as Joe \u201cMr Lithium\u201d Lowry recently dubbed the company \u2013 is continuing the good vibes from this recent find, with an investor presentation drilling further into the details for shareholders and other interested parties.<\/p>\n I have often received criticism from \u201cDown Under\u201d for never discussing early stage explorers. Let me right that perceived wrong by giving a shout out to my pals at \u201cTethered Goat\u201d aka TG Metals. \u9811\u5f35\u3063\u3066\u4e0b\u3055\u3044 #TG6<\/a> #DYOR<\/a> pic.twitter.com\/lL20scV3rj<\/a><\/p>\n \u2014 Joe Lowry (@globallithium) October 30, 2023<\/a><\/p>\n\n Earlier this week the company noted that initial drilling of the 4.5km by 1.7km Burmeister lithium soil anomaly within the project has found a spodumene-bearing pegmatite with grades up to 2.28% Li2O.<\/p>\n Here are some further deets from the presso\u2026<\/p>\n\n TG6 share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Minerals exploration and mining company Magnum came off a trading halt this morning after announcing it\u2019s inked a deal with Midmetal of Saudi Arabia to 50\/50 jointly fund a feasibility study on producing zero-carbon \u201cgreen\u201d pig iron.<\/p>\n It\u2019s been a mixed year for the magnetite\/iron ore-focused company \u2013 that said, it\u2019s so far up about 24% YTD.<\/p>\n The study will focus on the development of a HIsmelt facility in Saudi Arabia, operating on a net zero-carbon basis to produce green, high quality pig iron.<\/p>\n HIsmelt is an air-based direct smelting technology originally developed by Rio Tinto in 1982 to smelt high phosphorous iron ore fines with non-coking coals.<\/p>\n The tech can reportedly \u201cdeliver high purity pig iron now, without awaiting the development of technically challenging and economically burdensome hydrogen reduction techniques\u201d.<\/p>\n In this instance, the process will be be fed by Buena Vista magnetite concentrate augmented with steel mill waste. (Beuna Vista is the company\u2019s iron ore project located in Nevada, USA.)<\/p>\n Magnum and Midmetal will reportedly jointly develop agreements for project funding and pig iron offtake and the study is expected to be completed by the end of this year.<\/p>\n Source: Magnum ASX announcement<\/p>\n MGU share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Gold-hunting minnow Aurum is near 20% up at the time of writing. Quarterly reporting? You bet.<\/p>\n Highlights? We got \u2019em. Actually, the company\u2019s ASX announcement does, but instead of heading there, you can read them here:<\/p>\n \u2022 For the quarter ending September 30, the company notes its aircore drilling has been successfully completed at its flagship Ryans Find gold project, which is north-east of Koolyanobbing in Western Australia.<\/p>\n \u2022 All 74 planned drill holes were drilled down to fresh rock\/refusal, with a maximum hole depth of 69m. The program\u2019s drilling total was 2,634m.<\/p>\n \u2022 A total of 731 composite samples were delivered to Intertek Laboratories for assaying.<\/p>\n \u2022 Also, some $705,000 of capital raising was completed in the quarter. A handy sum. The company also notes it has cash on hand, as of September 30, 2023 of $2.548 million. Even handier.<\/p>\n AUE ASX announcement<\/p>\n AUE share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Small gold and battery metals hunter Alchemy is double digits up today (roughly 20% at time of beginning this article, although sagging a handful of % since). Yesterday it, too, released its Quarterly Activities and Cashflow Reports into the wilds via the ASX.<\/p>\n Some highlights:<\/p>\n \u2022 Its gold\/lithium Karonie<\/strong> project in WA delivered the completion of a lithium-focused RC program on Hickory, Mesquite, Pecan and Taupo North Prospect areas, with 28 holes drilled for 3,732m.<\/p>\n \u2022 That drilling was successful in identifying new zones of pegmatites at Mesquite and Taupo North, confirming Alchemy\u2019s interpretation of a system developing at depth and within proximity to the Cardunia granite \u201cGoldilocks Zone\u201d.<\/p>\n \u2022 Ground mapping anomalies discovered additional lepidolite and spodumene at new target areas at Mesquite with assays up to 0.45% Li20, while numerous additional targets were identified in the project areas.<\/p>\n Source: Alcemy\u2019s latest ASX announcement.<\/p>\n \u2022 A\u00a0maiden Mineral Resource Estimate (MRE)\u00a0<\/span>for the Overflow deposit\u00a0<\/span>at\u00a0<\/span>the\u00a0<\/span>80% owned Lachlan gold project<\/strong> in New South Wales, was also delivered in the quarter.\u00a0<\/span><\/p>\n \u2022 The estimate, prepared and verified by external consultants, came in at a JORC-compliant 342koz at 1.30g\/t AuEq (Inferred, 0.7g\/t AuEq cut-off) from surface.<\/span><\/p>\n \u2022 Meanwhile, cash at hand on September 30 (end of quarter) 2023 was $4.4m. Exploration expenditure for the reporting period was $577,000.<\/p>\n ALY share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0 The post Resources Top 5: Loyal Lithium spots bulk James Bay spod; and is Mr Lithium Joe Lowry\u2019s \u2018tethered goat\u2019 a winner?<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"TG Metals (ASX:TG6)<\/strong><\/a><\/h2>\n
Magnum Mining (ASX:MGU)<\/strong><\/a><\/h2>\n
Aurum Resources (ASX:AUE)<\/strong><\/a><\/h2>\n
Alchemy Resources (ASX:ALY)<\/strong><\/a><\/h2>\n
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