Jadar Lithium Ltd (ASX:JDR) has news of an acquisition pending and has been granted a trading halt by the ASX.
The halt for the lithium explorer focused on Serbia will remain in place until the start of normal trading on Wednesday, October 3, 2018, or when the announcement is released to the market.
Five exploration licences in Serbia
Jadar Lithium has five exploration licences covering about 328 square kilometres in Serbia, a rapidly emerging substantial lithium producing country.
The projects are Cer in West Serbia; Bukulja, Rekovac and Krajkovac in Central Serbia, and Vranje South in South Serbia.
The Cer and Bukulja projects are close to Rio Tinto plc’s (LON:RIO) world-class Jadarite discovery, which is one of the world’s largest lithium deposits.
Two mineralisation styles
Jadar Lithium’s five licences target two different styles of lithium mineralisation:
- Granite complexes with pegmatite and greisen mineralisation; and - Jadar-style sedimentary sequences in buried lake basins which contain extensive zones of hydrothermal lithium-borate mineralisation.
The company has this year completed maiden field reconnaissance and sampling programs on all five projects.
READ: Jadar Lithium defines multi-element anomalous zones at Cer project
At Cer, results have been used to define a number of multi-element anomalous zones.
Stream sediment and rock-chip sampling indicate two multi-element anomalies, with values including the presence of beryllium, niobium, tin, arsenic, antimony and molybdenum.
At Vranje South, first-pass sampling has defined lithium and borate mineralisation with follow-up sampling being planned.
Preliminary stream sediment and soil surveys have defined a number of anomalous zones at the Bukulja project.