LYN picking up ground next to $17BN lithium giant SQM

Our micro cap exploration Investment Lycaon Resources (ASX: LYN) just picked up some lithium/copper ground next door to a project being explored by $17BN lithium giant SQM.

LYN was picked first in a ballot for the groun in the Pilbara, WA - adjacent to projects owned jointly by SQM and Kali Metals.

Kali and SQM’s JV sits right next to one of the tenements LYN picked up and is focused primarily on lithium exploration.

So far SQM has spent ~$2.5M exploring for lithium on that project…

LYN confirmed in today’s note would be the focus of its exploration once the applications are granted.

LYN also mentioned the project's copper potential, with copper rock chips inside the project area grading up to ~42.8%.

For now, the project is still under application so we will have to wait a few months before LYN can get on the ground at this project.

Our main reason for being Invested in LYN:

We are Invested in LYN to see it go and drill its project in the West Arunta in WA.

LYN holds ground ~90kms away from the established players in the West Arunta - $1.1BN WA1 Resources and $308M Encounter Resources.

LYN’s project had been picked up when WA1 Resources was a <$10M micro cap stock (pre-discovery) and so we are looking forward to seeing what LYN has on its ground when it comes time to drill the project.

For the past ~18 months LYN has been working through the permitting process for the project.

LYN expects to kick off Aboriginal Heritage Surveys on the 11th of July ahead of ground gravity surveys which are expected to start in Q3-2024.

LYN expects to be drilling its project in the coming months.

What’s next for LYN in the West Arunta?

With the Heritage Surveys scheduled, we can expect to see the following from LYN: