Exciting Developments for ASX Mining and Resource Companies

Several ASX-listed companies have made significant strides in their respective sectors, showcasing promising opportunities in battery recycling, mineral exploration, and the discovery of valuable resources. Here’s a look at the latest developments from Lithium Australia, Marquee Resources, Augustus Minerals, Eastern Metals, and Lachlan Star, including key ASX mining stocks. 

Lithium Australia (ASX:LIT)  

Lithium Australia has entered into an exclusive agreement with BYD (Build Your Dreams), a leading Chinese electric vehicle (EV) manufacturer, to provide battery recycling services for BYD’s new energy vehicles in Australia. This agreement spans an initial three-year period with an option to extend for another two years. 

BYD has rapidly become a global EV powerhouse, delivering approximately 3 million new energy vehicles worldwide in 2023. In Australia, the company holds around 14% of the EV market share, despite only entering the market two years ago. The vehicles are equipped with BYD’s ‘Blade Battery,’ which uses lithium-iron-phosphate (LFP) cathode material— a component that Lithium Australia can recycle at the end of its life cycle. 

According to LIT’s CEO, Simon Linge, this partnership is expected to significantly increase the company’s future collection volumes of large-format lithium-ion batteries, enhancing its focus on high-margin battery recycling. Linge emphasized that this agreement, along with other recent exclusive recycling deals, underscores the company’s successful execution of its recycling growth strategy. 

Marquee Resources (ASX:MQR)  

Marquee Resources has identified a highly promising gold-silver-antimony project at its Sa Pedra Bianca site in Sardinia, Italy. The company holds options to acquire 100% of the project, with historical datasets revealing antimony grades of up to 6.5%. 

MQR is in the final stages of preparing a Research Permit (RP) application, which is expected to be lodged in September 2024. Once granted, the permit will replace the existing investigation permit and allow drilling activities to commence in early 2025. 

MQR’s Executive Chairman, Charles Thomas, highlighted the project’s potential, noting that while Sa Pedra is already known for its substantial gold resources, the recent identification of critical metals like antimony adds further value. MQR is set to continue its exploration efforts, focusing on both gold and newly identified critical metals, with plans to update the market on the permit status and future exploration. 

Augustus Minerals (ASX:AUG) 

Augustus Minerals has made a significant discovery at its Ti-Tree project in Western Australia’s Gascoyne mining district. The company identified a 1.1km-long copper zone within the “Nero” mineralized area, with rock chip samples returning copper grades of up to 3.1% and silver grades of 11g/t. 

In addition to the Nero zone, Augustus Minerals has identified two other mineralized structures, Claudius and Tiberius, within the project area. The company sees considerable potential for further discoveries as exploration continues in the region. 

Eastern Metals (ASX:EMS) and Lachlan Star (ASX:LSA)  

Eastern Metals and Lachlan Star have both been in the spotlight at the Resources Rising Stars Investor Conference. Eastern Metals recently commenced drilling at its Cobar copper-lead-zinc project in New South Wales, targeting new high-priority areas. The company’s focus is on the Kelpie Hill and Windmill Dam targets, which have shown highly anomalous grades from surface rock-chip sampling. 

Lachlan Star, meanwhile, has identified high-grade copper drill targets at its Basin Creek prospect, part of the Junee project, also located within the Lachlan Fold Belt. The company has uncovered zones of massive sulphides with copper grades of up to 6.4%, based on half-century-old diamond drill cores. Lachlan Star plans to begin drilling once permits are secured to confirm the scale and geometry of the copper-rich system. 

These developments highlight the ongoing exploration and resource discovery efforts by these ASX-listed companies, offering potential growth opportunities as they continue to advance their projects.