Falkenhain lies within 5 kilometres of Bacanora’s Zinnwald lithium project, also 50%-owned. The thinking is that material from Falkenhain could increase the potential mine life at Zinnwald.
Bacanora’s key asset remains the Sonora lithium project in Mexico, which has a net present value of US$1.25bn, according to a recent feasibility study.
A feasibility study is now also underway at Zinnwald.
"The issue of the exploration licence is a key milestone for Bacanora's activities in Germany,” said Bacanora chief executive Peter Secker.
READ: Bacanora Minerals follows up Sonora feasibility study with Chinese offtake agreement and investment
“Falkenhain will supplement our two significant lithium assets at Zinnwald and Sonora, each of which have the potential to become major suppliers of high value products to fast growing end markets, such as electric vehicles and energy storage, in the strategically important European and Asian lithium markets.“