Research Centaur Resources – Lithium Triangle Play

  • Oct 17, 2018 AEDT
  • Team Kalkine
Research Centaur Resources – Lithium Triangle Play

Centaur Resources (ASX: CR3) in Argentina is developing the Lobo Blanco Lithium Project. This 100%-owned project is in an established lithium mining district in Salta Province of northwestern Argentina, which covers around 11,000 ha of ground. Centaur is seeking a JORC resource of lithium metal in the near term at Lobo Blanco which is sufficient for mine development. At 20 cents per share Centaur is currently raising A$15m. Around 6 November 2018, the stock is expected to commence trading on ASX. In combination with the Prospectus available on CR3’s website this research should be read.

Demand for all the components of lithium-ion batteries is significantly boosted by the current boom in electric vehicles. Alongside ongoing robust demand for such batteries in power tools, smartphones and wearables. Hard rock and brine are two basic sources of lithium. Due to its favorable climate for evaporation, northwestern Argentina, northeastern Chile and southwestern Bolivia are a part of the ‘Lithium Triangle’ which holds a lot of the world’s lithium brines. Sitting under dried lakebeds called ‘salars’ is the lithium in the Triangle. Two Canadian companies - Millennial Lithium (TSX-V: ML) and LSC Lithium (TSX-V: LSC) are neighbors of Centaur for Lobo Blanco on the Salar Pastos Grandes. Thick lithium-bearing brine zones at depth have been encountered in recent drilling by Millennial. To develop a world-class lithium, mine all the relevant pieces of infrastructure are available in the district. 

Centaur intends to complete the relevant exploration and resource drilling over the next twelve months. Allowing an initial JORC resource to be proved up it will be followed by well development. For an operation producing 25,000 tpa of lithium carbonate, after this resource has been established, Centaur will initiate a BFS converting to 8,000 tpa lithium hydroxide.

With various juniors hope to follow in its footsteps, this part of the world has been a ‘company maker’ for Australia’s Orocobre. Followed by well development, to complete the relevant exploration and resource drilling, over the next twelve months, that would allow an initial JORC resource to be proved up. Centaur will initiate a BFS for an operation producing 25,000 tpa of lithium carbonate, after this resource has been established converting to 8,000 tpa lithium hydroxide. With valuable technical knowledge related to the conversion of lithium brines into lithium carbonate and lithium hydroxide, CEO Brian Clifford, whose background in carbon steel materials has brought together a team at Centaur.

The lithium was also a company-maker for Orocobre. With similarities to Centaur Lithium Power International and Argosy Minerals are two other companies in the Lithium Triangle. It is still under the class pending status on ASX.

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