Lithium Consolidated Mineral Exploration Ltd On New Licenses

  • Dec 11, 2018 AEDT
  • Team Kalkine
Lithium Consolidated Mineral Exploration Ltd On New Licenses

Lithium Consolidated Mineral Exploration Ltd (ASX: LI3) is into an exploration of lithium and have secured the Odzi West hard rock lithium project in eastern Zimbabwe as they have been granted 21 new Prospecting Licenses in eastern Zimbabwe, which comprises 11 of the newly granted Licenses in eastern Zimbabwe. To consolidate their position over the previously announced, Day Dawn and Bepe lithium exploration projects they have also been granted ten other Licenses at the Bepe and Day Dawn projects.

In total the company has in eastern Zimbabwe, 59 Licenses covering an area of 2,543 ha in the Mutare Greenstone Belt with 9 License applications which are pending grant, and which cover an area of 953 ha and 50 granted Licenses covering an area of 1,590 ha. Based on the initial exploration activities the Odzi West lithium project was secured further to their increasing knowledge of the hard rock lithium potential in the Mutare Greenstone Belt pegmatites.

The Odzi West Project is located at the south-western end of the Mutare Greenstone Belt and comprises 11 of the newly granted Licenses. There are minimum seven clusters of artisanal workings on separate, distinct pegmatites with historical reports documenting the petalite in one area of workings and presence of spodumene in another area of moderately extensive workings. With near surface, sheet-like configurations image analysis specifies that the pegmatites could be moderately extensive as several appear to be flat-lying. The artisanal and historical workings appear to be inactive at present while they have produced beryl and tantalite in the past.

For their lithium and tantalum potential, overall, there are inspiring indications of prospects worthy of further evaluation with some of the clusters of artisanal workings within the newly granted licenses. Depending on the results of exploration and mineral resource demarcation, given the proximity of the projects to each other the Zimbabwe Projects could be developed independently or as satellite mining operations. For beryl and tantalite, the Zimbabwe Projects cover pegmatite outcrops and artisanal mine workings and the possible concealed extensions of the exposed pegmatites.

Lithium Consolidated Mineral Exploration Ltd traded at around $0.063 with a daily price change of 1.613% as at December 11, 2018. The stock is trading very close to its 52-week low. For the past one-year period the stock has seen a performance change of -54.07%. The market capitalization of the stock is $5.61 million as at today at the current prevailing market price.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK