Electra JV “obviously in the right place” after sampling
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The head of the Lithium Australia (ASX:LIT) Alix Resources (CN:AIX) joint venture says it is “obviously in the right location” after latest round of drilling at its Electra lithium project in Mexico.
Joint venture partner LIT told the Australian market late last week that sampling at the Senora Project in Mexico came back with lithium values of up to 246 parts per million lithium.
It said that this confirmed a target sedimentary assemblage with the potential of having lithium-bearing, clay-rich horizons.
Alix president Mike England went one step further, saying the results confirmed the project bore striking similarities to the Bacanora/REM project right next door.
“These recent anomalous and enriched lithium values...bear similarities to Bacanora/REM’s early stage findings at Buenavista,” England said.
The Buenavista deposit is within the Sonora Porject, a joint venture between Bacanora and REM which was at the centre of a lithium hydroxide supply deal inked with auto giant Tesla late last year.
The Electra lithium project in Mexico
The LIT/AIX joint venture gathered 42 samples from claystones, sandstone and siltstones from its target sedimentary sequence – which bore an average lithium value of 167ppm.
The sampling program has effectively firmed up two target areas at the project, one measuring 1100m by 250-400m, and the other 400m by 150m.
Both parties will now get to work on another round of sampling at the project, followed by a series of shallow drill holes as part of a drilling campaign.
These drill holes are not guaranteed to hit lithium mineralisation.
England, however, said the first round of sampling had a huge validating effect.
“We are obviously in the right location and the mineralisation to date found on the property is very promising to our exploration team,” he said.
Back in May LIT confirmed that it had taken the first 25% interest as part of an overall program which could earn LIT a 65% stake in the project.
About LIT and Sileach
LIT will be hoping to apply its ‘Sileach’ processing process to the project – proving that the process is good for processing clays as well as hard rock sources.
The Sileach process is a way of processing lower-grade silicate deposits normally considered sub-economic.
The Sileach process involves grounding the test ore, digesting it in sulphuric acid, removing impurities and then extracting the lithium carbonate.
If LIT is able to prove up the technology, then it could open up a raft of resource which were previously considered too poor to mine.
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