Exore Resources Ltd (Novo Litio)
Exore Resources Ltd (Novo Litio)
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Pilbara Minerals has taken a tighter grip on the Pilgangoora lithium district in Western Australia, reaching with binding agreement to acquire Dakota Minerals' Lynas Find project adjoining its own Pilgangoora tenements. The company will pay $A4M upfront plus $1M for Lynas Find and $0.75M for each of four additional exploration tenements.
The deal comes a day after Dakota announced a maiden mineral resource of 7.3Mt @ 1.25% Li2O, 85ppm Ta2O5 and 0.99% Fe2O3 at Lynas Find, which adds to Pilbara's inventory of 128.6Mt @ 1.22% Li2O, 138ppm Ta2O5 and 0.63% Fe2O3.
West Australian explorer Dakota has highlighted the potential for a low-cost, low-strip lithium mine after calculating a maiden mineral resource at its 100%-owned Lynas Find lithium project in the Pilgangoora district.
Ariana's 100%-owned Australian subsidiary Asgard Metals has had its second big win this year with an exploration model developed for lithium, completing the sale of an NT and WA tenement package to Kingston Resources for $A20,000 cash and 6.6M shares. It gains a 1% shareholding in Kingston, with up to 7.2M performance shares to come if performance milestones are achieved.
Australian explorer Dakota has established itself as one of the keenest players in the new global sport of lithium hunting, announcing the acquisition of a large tenement package across three regions in Portugal, the largest lithium producer in Europe.
Dakota will pay up to €1.083M in cash and milestone payments to junior Portuguese explorer Lusorecursos, and says they will complement its high-priority Lynas Find project in Western Australia by giving it exposure to the European and Asian battery markets.
There's further encouragement for West Australian explorer Dakota as it prepares to start the next phase of drilling at the Lynas Find lithium project, with the latest analysis of maiden RC drilling delivering its highest grade yet: 21m @ 2.64% Li2O.
With further results coming, the average grade of drill intersections at Lynas Find is now 1.78%. Dakota says it's further indication Lynas Find covers a high-grade sector of the Pilgangoora lithium district, and the mineralisation is still open along strike and down-dip.
Dakota will accelerate the next two phases of drilling at its Lynas Find lithium project in Western Australia with the proceeds of a heavily oversubscribed placement that raised $A12.3M from the issue of 61.6M shares at 20cps - an 8.1% premium to the last closing price.
Chairman John Fitzgerald says the success of the placement through lead manager Argonaut is a testament to the excitement among domestic and international investors following exceptional grades from first-pass drilling at Lynas Find.