Lithium Universe (ASX: LU7) ends latest quarter with strategic appointments, partnerships and exploration work - Kalkine Media

Highlights

• Lithium Universe began exploration activities at the Apollo Lithium Project in the September quarter.
• Latest work has defined priority targets for future drilling campaigns.
• The period marked major partnerships and appointments to the Board.
• The company advanced its Quebec Lithium Processing Hub (QLPH) Strategy.

Led by lithium expert Iggy Tan, Lithium Universe Limited (ASX: LU7) is committed to building a lithium future through the development of its robust project portfolio. The company is steering ahead with its ‘Dream Team’ constituted by professionals and experts with proven experience in the lithium space.

The company started trading on the ASX during mid-August this year. In the September 2023 quarter, the company hit some landmark milestones strengthening its position in the global lithium market.  

Here, we have listed some crucial updates from its quarterly report. Have a read!

·       Exploration work at Apollo Lithium Project

During the September quarter, Lithium Universe began on-ground operations at the Apollo Lithium Project. The company conducted a comprehensive structural geophysics analysis of the area suggesting the potential for LCT pegmatitic dykes. The results indicate that a major east-west trending fault corridor/shear feature is evident in the area. This shear feature and field-based input has made this zone the highest priority target for future field and drilling campaigns.

LU7 collected around 674 samples during an initial soil sampling program on the north-west part of the Apollo Lithium Project, to analyse the concentration of lithium in the soil. This would help in finding out the underlying geology and potential lithium-bearing minerals.

LU7 has joined hands with Laurentia Exploration Inc, which would take charge of the exploration work, including drilling programs, approvals, geological assessments of the field, helicopter access, and overall logistics management.

·       LU7 partners with Primero for Concentrator Engineering Study

The period saw the company advancing its Québec Lithium Processing Hub (QLPH) strategy to establish a vertically integrated mine to battery grade lithium carbonate processing hub in Québec, Canada.

Lithium Universe hired Primero Group as the lead manager to do the Concentrator Engineering Study, aimed at designing a concentrator that can process 1 Mtpa of spodumene ore.

The design is expected to be similar to that of the Mt Cattlin plant.

·       LU7 partnered with KorrAI Technologies

Lithium Universe joined hands with KorrAI Technologies Ltd (Canada) to draft an exploration strategy articulated for the Apollo Lithium Project, using artificial intelligence to process and decode satellite data and images. To know more details, click here.

·       LU7 partners with Hatch for Lithium Carbonate Plant Engineering Study

Lithium Universe appointed global engineering firm Hatch Ltd to perform an engineering study for the design of a battery-grade lithium carbonate refinery. The development is in line with the company’s QLPH strategy.

The period also saw the appointment of Greenbushes Veteran Patrick Scallan and Lithium Expert Dr Jingyuan Liu to the company’s board. All in all, the September quarter remained a busy and millstone-rich period for Lithium Universe.

LU7 shares traded at AU$0.037 apiece at the time of writing on 1 November 2023.