• Recharge Metals enters into a binding agreement to acquire project in Canada’s James Bay region
  • First holes at Azure’s Andover project intersect substantial width of spodumene bearing pegmatite  
  • Infinity Mining recommences lithium exploration at South Tambourah

 

According to reports, the Zimbabwe Miners Federation (ZMF) has written to President Mnangagwa asking for a 6-month moratorium on ‘Statutory Instrument 5 of 2023 – Base Minerals Export Control (Unbeneficiated Base Mineral Ores)’.

In the letter seen by Bloomberg, ZMF president Henrietta Rushwaya says the ban has impacted small and medium scale miners and has prejudiced standing offtake agreements between miners and international buyers.

 

Here’s how ASX lithium stocks are tracking:

50 lithium companies finished in the green, 58 fell flat, and 29 ended in the red zone.

 

Who’s got news out?

RECHARGE METALS (ASX:REC)

Recharge Metals has entered into a binding agreement to acquire a lithium project in Canada’s James Bay region called Express.

The James Bay region is developing into one of the most endowed lithium terranes in the world and REC managing director Felicity Repacholi-Muir says the company looks forward to unlocking the lithium potential at the Express project site.

DG Resource Management (DGRM), the vendor of the Express Lithium Project, previously identified, acquired, and vended the potentially world-class Corvette Property, owned by Patriot Battery Metals (ASX:PMT).

DGRM will retain significant exposure to Express via its 18.8% shareholding in Recharge following completion of the acquisition.

 

AZURE MINERALS (ASX:AZS)

Azure’s lithium-focused drilling program at its Andover project in WA’s West Pilbara region is off to a good start with the first holes intersecting substantial widths of spodumene-bearing pegmatite.

Holes ANDD0201 and ANDD0202 intersected 22m and 27m of pegmatite from down-hole depths of 187m and 197.4m respectively, indicating that the pegmatite dips shallowly to the north.

 

INFINITY MINING (ASX:IMI)

Infinity Mining has recommenced lithium exploration at South Tambourah with recent assay results returning up to 3.86% Li20 and confirming more lithium bearing pegmatites.

In addition to high grade lithium, the geochemistry of rock chip samples returns strongly elevated levels of caesium, tantalum, rubidium and niobium.

This points to the highly fractioned nature of the pegmatites and their prospectivity for lithium mineralisation.

Ongoing work at Tambourah will involve an Ambient Noise Tomography (Passive Seismic) survey with an aim to map the pegmatites at depth, identify any concealed flat lying pegmatite bodies and map possible host geology and structures.

 

PURE RESOURCES (ASX:PR1)

Lithium and pathfinder elements have been identified in Pure Resources’ first ever sampling program at the Laforge Lithium Project in Quebec, Canada.

Pure’s executive chairman Patric Glovac says the early results support the board’s view on the prospectivity of the project.

The company will now conduct a mineralogy program to determine the spodumene content of all samples it collects across its program.

Whilst greenfields in nature, Laforge is situated in the same geological province and exhibits analogous rock types, structural setting, and geophysical properties as observed at the Corvette lithium trend.

PROSPECH (ASX:PRS)

Prospech has assembled a portfolio of  lithium, REE and precious metals projects in Northern and Eastern European jurisdictions that are highly supportive of mining.

The company says in addition to imminently planned drilling at the Kolba project, it has submitted applications that, when granted, will increase the Kolba exploration licence area by 3.8 times along strike of known mineralisation.