Lithium Universe gearing up to script new growth story in lithium industry - Kalkine Media

CEO – Alex Hanly, Executive Director – Gernot Abl and Chairman – Iggy Tan celebrate ASX Listing.

Highlights

• Lithium Universe, a new lithium venture from industry pioneer Iggy Tan, is committed to advancing its project portfolio in Canada.
• Tan has assembled the Company’s own “Lithium Dream Team” to expedite the exploration and development of the Company’s highly prospective lithium portfolio.
• The current focus is on the 80%-owned flagship Apollo Lithium Project located in the James Bay region, Québec.
• The company says that it will be trading on the Australian Securities Exchange (ASX) from Monday, 14^th August 2023.

Australia-based mineral exploration and development company, Lithium Universe Limited has its main focus on the rapid development and construction of successful lithium projects. Currently, it is steering ahead to develop its highly prospective lithium assets in Canda. The company also intends to investigate the feasibility of establishing a lithium processing hub in Québec, Canada.

The prime goal is to conduct geological mapping, surface sampling and drilling in order to systematically explore its lithium projects in Canada.

It will continue to utilise mineral exploration or resource opportunities to ensure that the company grows and achieve its business goals under the leadership of industry pioneer Iggy Tan. The company also plans to pursue other acquisitions that are a strategic fit. 

Flagship Apollo Lithium Project

In May 2023, Lithium Universe signed binding agreements to acquire interest in five mineral exploration and development projects located in Canada and Australia, which are prospective for Li and rare earth. 

The current focus is on the 80%-owned flagship Apollo Lithium Project located in the James Bay region, Québec. The region is known for its thick, high-grade spodumene mineralisation, as indicated by encouraging lithium outcomes.

The project, covering 240km², boasts 17 pegmatite outcrops visible at the surface. Apollo is strategically located between Patriot Battery Metals' Corvette Lithium Project and Winsome Resources' Adina Lithium Project. These two projects have witnessed spodumene discoveries, resulting in significant increases in the market capitalisation of Patriot Battery Metals and Winsome Resources, highlighting the opportunity with Lithium Universe.

Apollo sits within the same greenstone belt as these two projects and hosts similar geology and similar pegmatite occurrences as highlighted by satellite images.

Image source: Company

Patriot announces the largest lithium pegmatite resource at CV5

Patriot Battery Metals Inc. (TSX-V: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) has announced the maiden mineral resource estimate for the CV5 Spodumene Pegmatite at its wholly owned Corvette Property, Quebec. The MRE at CV5 makes it the largest lithium pegmatite mineral resource in the Americas, delivering 109.2 Mt at 1.42% Li₂O and 160 ppm Ta₂O₅ inferred, at a cut-off grade of 0.40% Li₂O, for a total of 3,835,000 t contained lithium carbonate equivalent.  More recently, the upgrade from Allkem of their James Bay project increased by 173% to 110.2 Mt @ 1.30% Li₂O.

Lithium Universe sees this as a major opportunity as its Apollo Lithium Project sits adjacent to this discovery.

Fund raising through upcoming listing

Lithium Universe expects to start trading on the Australian Securities Exchange (ASX) in August 2023 under the proposed ticker name “LU7”. The company is looking to raise a minimum of AU$3 million (before costs) and up to AU$4.5 million (before costs).

What exactly is Lithium Universe targeting?

Tan’s vision is to promote collaborative growth among lithium junior exploration companies operating in the James Bay area and position Canada as a major supplier of lithium to the global market. In pursuit of this goal, the Company will also investigate the feasibility of establishing a vertically integrated lithium processing hub (QLPH) in Québec, Canada.

His vision is to assess the feasibility of constructing a multi-purpose independent concentrator (QLPH Concentrator) that will supply a battery-grade lithium carbonate refinery (QLPH Lithium Carbonate Refinery) capable of producing 16,000 tons per annum (tpa). Tan says this processing facility (QLPH) should be ideally located along the Trans Taiga Highway in the James Bay district.

Lithium Universe, backed by industry pioneer Iggy Tan and his dream lithium team and highly prospective Canadian lithium portfolio, aspires to establish itself as a prominent lithium project builder and assist Canada facilitate the transition towards cleaner energy.