Lithium Australia NL (ASX: LIT) has added to a rapidly growing global lithium project suite with the granting of a mineral license in the Bynoe Pegmatite Field, 50 kilometres south-southwest of Darwin in the Northern Territory.
The added exploration upside is considered high, given the new 60 square kilometre Bynoe licence has economically significant lithium mineralisation already proven in at least one pegmatite.
While being located so close to Darwin, the license has well-established infrastructure to go with any economic discovery.
Beyond this, it adds to LIT's strategy of controlling sources of lithium in Australia and internationally, to complement LIT’s market-leading Sileach™ metal extraction technology.
Despite the favourable location, exploration in the Bynoe area, until recently, has been underexplored and of narrow focus with little work undertaken on lithium. Most historical exploration was for tin and tantalum.
The latest exploration has targeted spodumene, a lithium silicate and lithium micas and activity levels rival that of similar pegmatite fields such as Pilgangoora in Western Australia.
The Bynoe Pegmatite Field is part of the larger Litchfield Pegmatite Belt; with 'S-type' granites, believed to be the source of the pegmatites.
Next steps
LIT will undertake a desktop study of the Bynoe Project to identify and evaluate lithium mineralisation.
Fieldwork will commence during the northern dry season, once surface water has dissipated and access is easier.
Lithium portfolio expanding
Recent fieldwork by LIT at its Ravensthorpe Lithium Project in Western Australia resulted in the discovery of several additional lithium pegmatites, nearby to the Mt Cattlin lithium mine operated by Galaxy Resources Ltd (ASX:GXY).
Additionally, LIT signed a joint venture agreement with Toronto listed Alix Resources (TSX:AIX) to explore in the world’s largest lithium clay province in Sonora, Mexico.
LIT exclusive Sileach™ metal extraction technology
LIT has exclusive access to a processing technology for the production of lithium chemicals from silicates including the clays, micas and spodumene without the requirement to roast before leaching.
Its strategy of acquiring Australian and international lithium projects and thereby controlling sources of lithium, to complement its market-leading processing technology is set to pay dividends.
In March, the company began to fast track pilot plant testing of the Coolgardie lithium deposit and its 100% owned processing technique, Sileach™ for the recovery of lithium.
The initial program will focus on the application of Lithium Australia’s Sileach™ process to aid the recovery of lithium from micas.
The Sileach™ process is designed to recover lithium from silicates without the expensive roasting step that has long been the main stay of the lithium recovery process.
With this, the technology has the potential to catapult Australia into the forefront of the lithium battery boom by supplying optimal grade and purity material from low-energy production of lithium chemicals.
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