Lithium Universe (ASX: LU7) eyeing wide stride with significant lithium opportunities across projects

Highlights

• Lithium Universe has some major Lithium and Rare Earths opportunities within Tier-1 mining jurisdictions of Canada and Australia.
• The Apollo Lithium Project has the potential to be highly successful as it is surrounded by projects which have delivered exceptional results.
• The aerial satellite images reflect that the Cancet, Corvette, Adina and Apollo Lithium projects are present within the greenstone belt of the La Grande sub-province.
• The Margot Lake Project is based in the highly competitive district, called as “Electric Avenue” owing to the impressive discoveries by Frontier Lithium Inc.

Lithium Universe Limited (ASX: LU7) has been steering ahead to emerge as a leading lithium project builder with successful development of its projects across Canada and Australia. The ASX-listed company highlights that it boasts major Lithium and Rare Earths opportunities within these Tier-1 mining jurisdictions. According to the company, its major projects, including the Adina South and Adina West Projects, the Apollo Lithium Project, and the Margot Lake Project are highly prospective for lithium.

Apollo Lithium Project (80%)

LU7 Apollo Lithium Project and nearby discoveries

With a resource of 109.2 Mt at 1.42% Li₂O, the Apollo Lithium Project has the potential to be highly successful as it is surrounded by projects with exceptional results, indicated the company. Its tenements are bigger than the neighbouring Patriot Corvette project which had a phenomenal drill result of 156m at 2.12% Li₂O at CV5. Also, Winsome Resources’ Adina project located 28km to the east has a high-grade mineralised intersection of 107m at 1.34% Li₂O from 2.3m (AD-22-005).

Initially, Lithium Universe plans to focus on the exploration of the Apollo Lithium Project. The company intends to begin an accelerated exploration program at the site. In addition, there would be an airborne geophysical and remote survey to identify new drill targets for the maiden drill program.

Adina South & Adina West Lithium Project (80%)
The projects are based near the Adina Project of Winsome Resources. As per the company, similar pegmatite occurrences have been demonstrated in the aerial satellite images of the surface. It reflects that the Cancet, Corvette, Adina and Apollo Lithium projects are present within the greenstone belt of the La Grande sub-province.

Going forth, LU7 plans to perform an exploration program at the Adina South and Adina West Projects.

Margot Lake Lithium Project (80%)

LU7’s Margot Lake Lithium Project in proximity to Frontier Lithium’s flagship project

The project is based in the highly competitive district, called as “Electric Avenue” owing to the impressive discoveries by Frontier Lithium Inc. It hosts nine confirmed pegmatites and demonstrates regional geology similar to that of major resources present in proximity.

It is located 16km southeast of Frontier Lithium’s PAK Deposit which holds 9.9Mt at 2.0% Li₂O and 18km away from Frontier’s Spark Deposit with an indicated 18.8Mt at 1.52% Li₂O and an inferred resource of 29.7Mt at 1.34% Li₂O.

LU7 is looking forward to holding an exploration program at the Margot Lake Project. This would include geochemical soil sampling as well as preliminary field mapping.

Lefroy Lithium Project (100%)

The project is based in the Eastern Goldfields of Western Australia, hosting some largest operating mines and exploration discoveries of past ten decades.

Also, it is located close to the Bald Hill Lithium Mine, containing top-quality spodumene concentrate with low levels of mica and iron, and substantial tantalum by-product production.

The Lefroy Project is in close proximity to the Mt. Marion Lithium Mine, producing 900,000 tonnes of mixed-grade spodumene concentrate every year.

LU7 intends to conduct a systematic exploration program along with geochemical soil sampling, surface mapping, and geophysical surveys to detect new drill targets.

Voyager Rare Earth Project (80%)

The project currently has two exploration licence applications. ELA32/2022 is based towards the southeast of Launceston which contains the first Ionic Clay Rare Earth discovery in Tasmania. E40/2022 is located 30km inland from Swansea on the east coast of Tasmania. There is potential of economic deposits in the region after the discovery of ionic absorption clay-type (IAC) REE mineralisation by ABx Group in the area. The regional work completed so far has suggested significant potential for new discoveries of REE in Ionic Clays.

In essence, Lithium Universe is set for exciting opportunities with exploration plans ready for all projects.

Stock price performance

LU7 shares traded at AU$ 0.060 on 23 August 2023, up over 5% from the last close. The share price has jumped by over 9% in the last five days.