Sign up Australia
Proactive Investors - Run By Investors For Investors

Blaze International Ltd joins East Pilbara’s lithium bustle

Blaze International Ltd joins East Pilbara’s lithium bustle

Blaze International Ltd (ASX:BLZ) has entered into an option agreement to acquire the Marble Bar Lithium Project in the East Pilbara region of Western Australia.

Blaze will join Pilbara Minerals Ltd (ASX:PLS) and Altura Mining Ltd (ASX: AJM) in a region which is becoming a hub for lithium activity, following the discovery of world-class pegmatite deposits.

The Marble Bar Lithium Project consists of four exploration licence applications covering 370 square kilometres.

Blaze will pay an initial cash option fee of $200,000 to Great Sandy Pty Ltd, an entity owned and controlled by well-known Pilbara prospector Denis O’Meara.

Blaze can acquire the project by paying an additional $500,000 and issuing 25 million ordinary shares (worth $1.7 million as per Blaze’s last traded price) plus 75 million performance shares.

Reconnaissance exploration has identified a pegmatite swarm at the project with a strike length of 3.5 kilometres within a 4 kilometres wide corridor.

Spodumene and Lepidolite mineralisation associated with the pegmatites has been identified within this corridor.

Rock chip sampling has returned peak values of 3.72% Li2O and 3.32% Li2O with an average of 1.85% Li2O across 22 samples.

Blaze will complete a technical due diligence of the project, including detailed geological mapping and geochemical sampling, during the three-month option period.

The company is planning to raise $750,000 in new equity capital from wholesale and sophisticated Investors via a private placement to fund the acquisition.

 

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.





Register here to be notified of future BLZ Company articles
View full BLZ profile View Profile

Blaze International Ltd Timeline

Related Articles

Office productivity
September 11 2017
It would have been somewhat embarrassing had an office productivity software firm not got its flagship product delivered on time, but fortunately BOS did
risk-management.jpg
October 25 2017
The top line was driven primarily by the strong growth of the company's Risk Management and Trading Software Division
picture of apps
November 22 2017
Going live with its app distribution platform was a landmark move for recent AIM listee appscatter

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 2017

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