Sign up Australia
Proactive Investors - Run By Investors For Investors

Adelaide Resources Ltd expands lithium portfolio in South Australia

Adelaide Resources Ltd expands lithium portfolio in South Australia

Adelaide Resources Ltd (ASX:ADN) is expanding its existing lithium brine portfolio with the Lake Acraman and Lake Gilles lakes in South Australia.

It has applied for exploration tenure at the previously unexplored Lake Florence and Lake Killamperpunna, both located east of Lake Eyre.

The two lakes may have the potential to hold lithium-rich brines due to the high concentration of lithium in the lake areas.

Adelaide Resources’ lithium exploration interests are in addition to its focus on Australian gold exploration activities in South Australia, Queensland and the Northern Territories.

Meanwhile, there is potential for an economic project at the company’s wholly owned Barns gold deposit in the Eyre Peninsula in South Australia.

Earlier this month, a scoping study of the deposit concluded that the deposit could prove to be profitable assuming an A$1,500 gold price and suitable assumptions for capex, recovery and operating costs.

There is potential for resource estimates in the second half of 2016 for the Barns deposit, White Tank and possibly the Baggy Green project in Eyre Peninsula. Exploration target assumes 2.5 - 3.5 million tonnes grading 1.3 g/t to 2.0 g/t for total contained gold of circa 100 kilo ounces to 225 kilo ounces.

Adelaide Resources held cash of $702,000 as at end March 2016.

Adelaide Resources shares are currently trading higher at $0.019. The shares have lifted from a low of $0.01 on January 18, 2016.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full ADN profile View Profile

Andromeda Metals Ltd Timeline

September 22 2015

Related Articles

copper mine
October 17 2017
With heavyweight supporters, the best ground in country and new cash in the bank, Kincora looks very well positioned
January 22 2018
Tungsten prices are on the rise and construction is proceeding apace at Barruecopardo
Gold bars and gold mining operation
March 28 2018
The AUD gold price is trading near its all-time highs at around A$1,750 per ounce.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use