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Quarterly Activities Report – June Quarter 2022
HIGHLIGHTS
- Bitterwasser Lithium Project: Final assay results for remaining 32 of the 64 holes drilled over the Eden Pan on a 500m grid received
- Bitterwasser Lithium Project: Regional investigation into Bitterwasser Lithium-in-clay and Lithium-in-brines minerals system defined extensive tectonic rift-related fault structures in a closed basin (the Kalkrand half-graben), similar to Clayton Valley in Nevada1
- Kum-Kum Nickel Project: Historical core samples obtained during investigation were sampled and returned the first known record of PGE and Au mineralisation in the ultramafic units of the Tantalite Valley Complex. The best results indicated mineralisation of2:
- 0.71% Ni, 0.28% Cu, 0.84 g/t Pd and 0.4 g/t Pt in orthopyroxenite
- 0.58% Ni, 0.30% Cu, 0.69 g/t Pd, 0.31 g/t Pt and 0.26% Au in orthopyroxenite
- Swanson Tantalum Project: Mineral Resource update delivers an estimate for a total indicated and inferred resource of 2.59Mt (an increase of 115%) at an average grade of 486 ppm Ta2O5 (an increase of 17.9%), 73 ppm Nb2O5 and 0.15 % Li2O.3 An Environmental Clearance Certificate and Mining Licence was also issued for the project.
1 Refer to ASX Announcement dated 09 May 2022 titled “Regional study advances work program for district scale Lithium in brines”
2 Refer to ASX Announcement dated 09 May 2022 titled “Kum-kum nickel project mineral systems approach results”
3 Refer to ASX Announcement dated 06 May 2022 titled “JORC Mineral Resource at Swanson Tantalum project doubles in size
SUMMARY OF MINING EXPLORATION FOR THE QUARTER
Bitterwasser Lithium Project
Assay results for the outstanding 32 drill holes from the 64-hole follow-up auger drilling campaign completed on 9 February 20224 over the Eden Pan was received during the quarter. All the drill holes commenced in the mineralised Upper Brown Clay Unit and every hole, except two drill holes where thin clay units were intercepted at the edges of the Eden Pan, were sampled from top to bottom up to a depth of 9.60m. Notably, the entire sequence of the drill holes sampled (i.e. Upper Brown Clay Unit and Middle Green Glay Unit) returned lithium mineralisation5.
The Middle Green Clay Unit, lithologically named the Middle-Unit (MU), comprises the dominant lithological unit from which the maiden Mineral Resource6 was derived. This green clay unit was intersected in 18 of the 32 drill holes from which assay results were received and extended from a depth of 1.4 m below surface to the maximum End-of-Hole (EOH) depth of 9.60m. A total of 43 holes from the 64-hole follow-up auger drilling campaign intersected the Middle Green Clay Unit at similar depths.
Figure1: Stacked cross section of the Eden Pan depicting drill-hole interpretation with reference to the existing Mineral Resource (green layers) and clay units intercepted in the follow-up auger drilling program.
4 Refer to ASX Announcement dated 10 March 2022 titled “Encouraging lithium drilling assay results at Bitterwasser”.
5 Refer to ASX Announcement dated 2 May 2022 titled “Final Lithium Drilling assay results at Bitterwasser”.
6 Refer to ASX Announcement dated 3 November 2021 titled “Arcadia acquires lithium project with JORC Mineral Resources”.
Click here for the full ASX Release
This article includes content from Arcadia Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Kum-Kum Nickel Project Mineral Systems Approach Results
HIGHLIGHTS
- The Department of Earth Sciences at the University of Stellenbosch concluded a Minerals Systems Approach investigation over the Kum-Kum Ni-Cu-PGE Project Licenses
- During the investigation several historical documents containing exploration results over the Kum-Kum Project were discovered, which reported best historical borehole intersections from three boreholes drilled by Rio Tinto Exploration, Tantalite Valley Minerals and Southern Sphere between 1972 and 1976 as follows:
- 16.00 m @ 0.65% Ni, 0.16% Cu
- 6.00 m @ 0.61% Ni, 0.30% Cu
- 2.44 m @ 0.62% Ni, 0.30% Cu
- Historical core samples obtained were sampled and returned the first known record of PGE and Au mineralisation in the ultramafic units of the Tantalite Valley Complex. The best results indicated mineralisation of:
- 0.71% Ni, 0.28% Cu, 0.84 g/t Pd and 0.4 g/t Pt in orthopyroxenite
- 0.58% Ni, 0.30% Cu, 0.69 g/t Pd, 0.31 g/t Pt and 0.26% Au in orthopyroxenite
- The primary magmatic sulphides comprise of coarse-grained pentlandite, pyrrhotite, and chalcopyrite
- Whole rock geochemistry highlights the geochemical similarities between the TVC and the Kum-Kum complexes. The TVC crystallized as a mafic/ultramafic layered intrusion and likely from a primitive mantle-derived parental magma.
Philip le Roux, the CEO of Arcadia stated:
“Historical drilling results reporting high values of Nickel and Copper mineralisation attracted us to the Kum-Kum Project. From the work done by the team from the University of Stellenbosch it is evident that PGE and Au mineralisation is also present and that we are looking at a geological environment that possibly could contain a stratiform Ni-Cu-PGE disseminated sulphide ‘reef’ horizon. The prospect of possibly discovering a polymetallic (Ni, Cu, Au & PGE’s) deposit has increased the allure of the KumKum Project for us, which we will eagerly follow up with further exploration. The results of the study will assist the Company to focus its exploration efforts in order to define drill targets.”
Mineral Systems Approach Results
The Tantalite Valley Complex (TVC) has been subject to a geological study by a team from Arcadia and the University of Stellenbosch involving two field sampling campaigns (8 days; 94 field samples collected) augmented with detailed consideration of historical drill core segments (57 samples), and supporting data from historical records, hyperspectral mapping, and stream sediment sampling.
Collected field- and core- samples were subjected to a suite of analytical protocols including reflected- and transmitted-light optical petrography, whole-rock major and trace element chemistry, precious metal assays, sulphur isotope analyses, scanning electron microscopy with associated spectrometries and in-situ Laser Ablation Inductively Coupled Plasma Mass Spectrometry (LA-ICP-MS) of individual sulphide grains. Together, these results provide novel insights into the known mineralisation and prospectively of the TVC.
The TVC is a ~7 km long by 3.3 km wide and roughly oval-shaped mafic-ultramafic complex representing a fault-bound block inside a dextral Pofadder Shear Zone (PSZ) that cuts across southern Namibia. Existing geochronology places the TVC as a ~1.2 Ga intrusion and roughly coeval with a Kum Kum Klippe mafic complex that is located roughly 40 km south-east and along the strike of the PSZ.
Whole rock geochemistry highlights the geochemical similarities between the TVC and the Kum Kum suite, but with the former uniquely showing much stronger geochemical evidence for overwhelmingly cumulate rocks. This implies that the TVC crystallized as a significant mafic/ultramafic layered intrusion and likely from a primitive mantle-derived parental magma that originated from a metasomatized mantle.
Click here for the full ASX Release
This article includes content from Arcadia Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Galan Signs Pivotal Commercial Agreement with Catamarca Government to Commercialise Lithium Chloride Concentrate
Highlights:
- Galan has signed a commercial agreement with the Catamarca Government in support of the grant of permits to enable the commercialisation of lithium chloride concentrate to be sold locally or exported internationally
- Galan’s ability to export lithium chloride concentrate is expected to facilitate access to a larger customer base domestically and internationally, potentially offering enhanced offtake terms and funding/prepayment opportunities
- The agreement includes an increase in the proposed royalty rate to 7% and potential advance payments. This is similar to the successful regime operating in Australia (applied to the export of spodumene concentrate, which contributed to Australia becoming the largest Lithium exporter in the world, in recent years), thereby supporting the rapid development of the HMW project
- The agreement includes a commitment by Galan, after 4 years, to pursue further downstream processing routes (e.g. lithium carbonate, lithium hydroxide or other alternatives), outside the Hombre Muerto salar, with the intent to offer priority to a collaboration with the Catamarca government agency
- The HMW Project is a Tier One project that will produce a low cost premium high grade lithium chloride (LiCl) concentrate of 6% Li, comparable to 13% Li2O or 32% Lithium Carbonate Equivalent (LCE) and remains on track for first production in H1 2025.
- The agreement also cements an important prerequisite required for the grant of Phase 2 permits (currently under application), potentially enabling the continuity of development for Phase 2 construction at the completion of Phase 1.
- Galan continues to work closely with the local Catamarca government in relation to our long term value add lithium production strategy, this agreement further significantly de-risks the strategy and provides evidence of our very strong, positive and collaborative relationship with local authorities and our community
Catamarca Governor Raúl Jalil and Galan Lithium Ltd Managing Director Juan Pablo Vargas de la Vega in Catamarca on Friday 19 April 2024
As previously announced, the HMW project is separated into four production phases. The initial Phase 1 Definitive Feasibility Study (DFS) focused on the production of 5.4ktpa LCE of a lithium chloride concentrate (currently under construction) by H1 2025, as governed by the approved production permits. The Phase 2 DFS targets 21ktpa LCE of a lithium chloride concentrate in 2026, followed by Phase 3 production of 40ktpa LCE by 2028 and finally a Phase 4 production target of 60ktpa LCE by 2030. Phase 4 will include lithium brine sourced from both HMW and Galan’s other 100% owned project in Argentina, Candelas. The very positive Phase 2 DFS results were announced on 3 October 2023 (https://wcsecure.weblink.com.au/pdf/GLN/02720109.pdf).
Galan’s Managing Director, Juan Pablo (JP) Vargas de la Vega, commented: “Galan would firstly like to acknowledge and sincerely thank the Government of the Catamarca Province in Argentina for their continued support. We look forward to continuing to work side by side with our local communities and authorities, towards achieving mutually beneficial and sustainable outcomes for both the people of Argentina and Galan’s shareholders, through the further downstream development of lithium processing routes such as lithium carbonate, hydroxide or other alternatives, in Catamarca.
This commercial agreement is an important milestone in implementing Galan’s strategy, providing access to a larger international customer base at potentially improved sales and funding/prepayment terms. The agreement is expected to provide tangible progress towards the granting of Phase 2 permits on our journey to becoming the next lithium producer in Argentina.
Click here for the full ASX Release
This article includes content from Galan Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
AM Resources Completes Compilation Work with the Discovery of 94 New Pegmatites for a Total of 281 Pegmatites on its 1,500 km² Land Package in Austria
First Group
The Company has identified a pegmatite corridor comprising of 88 pegmatites with lengths varying from 40 metres to 1,200 metres. A total of 38 pegmatites are located within mica schists, a geological setting favorable for the presence of lithium-bearing minerals. The other pegmatites are hosted within lenticular pegmatoid gneiss, which is less favorable to the presence of lithium-bearing minerals.
Second Group
An additional 6 pegmatites with one reaching over 2,100 metres in length were discovered. These pegmatites are located within mica schists, a geological setting favorable for the presence of lithium-bearing minerals.
David Grondin, CEO of AM Resources stated: “Through our compilation work, our technical team has identified 281 pegmatites, the longest of which exceeds 2 km in length. When we began our journey in Austria over a year ago, we were aware of the potential of the Austrian Pegmatite Belt. However these discoveries are beyond our expectations. This preliminary assessment of our new land package is extremely exciting and we look forward to a summer exploration and sampling campaign that will target each of these pegmatites.”
Location, Location, Location
As previously reported, the AM Resources team has been actively assembling a massive prospective land package with four key elements at the core of its strategy: proven geology, proximity to key markets, historical expertise, and a clear, proven mining code. AM Resources’ Austrian properties are located within 620 km of 14 planned battery plants and have direct access to an extensive rail system.
Qualified Person
Technical information related in this news release has been reviewed and verified by Jean Lafleur, P. Geo., of PJLEXPL Inc., a registered geologist with the Ordre des Géologues du Québec (OGQ #833) and is a qualified person (QP) as defined by NI 43-101. Mr. Lafleur is independent from the Company and has reviewed and approved the disclosure of the AM Resources geological information.
About AM Resources
AM Resources Corporation (TSXV: AMR) is a dynamic junior mining company focused on the exploration and development of high-potential pegmatite deposits. With a strategic portfolio of assets and a commitment to responsible resource development, the Company is dedicated to creating long-term value for its stakeholders while adhering to the highest standards of corporate governance and sustainability.
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AM Resources to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. AM Resources does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
David Grondin
AM Resources Corporation
President and Chief Executive Officer
1-514-583-3490
www.am-resources.ca
