African-focused Walkabout Resources Ltd (ASX:WKT) has now added a highly prospective lithium opportunity to its graphite assets.
Walkabout has filed applications for three Prospecting Licences in a known lithium-tantalum setting in Tanzania.
The applications cover 475 square kilometres located in the Haneti area close to existing infrastructure and have been submitted to the Department of Mines and Energy in Tanzania.
The tenements are situated in a lithium-tantalum corridor where historical mapping reported pegmatite-hosted lithium occurrences found to be more widespread than previously recorded.
Walkabout's strategy is to diversify into the fast developing supply chain for lithium ion batteries and complement the development of the Lindi Jumbo Graphite project.
But this could be just the beginning, with further opportunities for lithium elsewhere in Africa being investigated.
Allan Mulligan, managing director, commented:
“Walkabout has strong exploration credentials and we intend to leverage these to quickly and cost effectively assess a range of prospective lithium sources.
"This exploration will fit very well with our current activity list for the Lindi Jumbo Graphite Project and will brand Walkabout as a focussed energy-metals exploration and development company.”
First steps
Walkabout said that initial reconnaissance mapping, sampling and trenching by others in the immediate vicinity have uncovered pegmatites up to 700 metres in length with grades up to 5.2% Li2O and 0.18% Ta2O5.
The company's applications are contiguous to and along strike from the tenements that host the high grade lithium and tantalum rich pegmatites of the Mohanga Project.
Analysis
Walkabout is dialling into African lithium and has filed applications for three Prospecting Licences in a known lithium-tantalum setting in Tanzania.
This could be just the beginning, as the company is currently evaluating other lithium opportunities on the continent.
Walkabout’s team has a proven track record of delineating suitably sized resources in a short period of time and as soon as the licenses are approved, prospective areas will be followed up by an intense period of mapping and sampling.
Lithium is a high-value product which is anticipated to be in supply tension as the demand for lithium-ion batteries continues to experience transformational growth.
The next steps for Walkabout will be closely followed.
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