Sign up Australia
Proactive Investors - Run By Investors For Investors

Hannans Reward to shine on Swedish lithium play

Hannans Reward to shine on Swedish lithium play

Swedish explorer Hannans Reward (ASX:HNR) has lit up today lodging seven applications for exploration permits and one over a historic lithium mine in northern Sweden.

Hannan's board had flagged it was reviewing opportunities in Scandinavia and that lithium mining had previously taken place in Sweden and the most advanced lithium project in Europe is located in Finland, providing compelling reasons for the applications.

Looking beneath the announcement, lithium was mined at Varuträsk by Boliden during 1936-46 through open cut and underground mining and hosts lithium and niobium.

The first exploration permit applied for by Hannans actually covers the Varuträsk pegmatite, hence the grounds for excitement.

As recently as 1983-84, diamond drilling at Varuträsk saw a new pegmatite lens located just 1 kilometres north of the previously mined pegmatite.

Providing exploration "blue sky" the original pegmatite and the additional lens that were discovered in 1983-84 apparently has not seen any deep drilling below the previously mined level.

While Hannans’ remaining exploration permit applications cover mapped pegmatites and Skellefteå-type granites prospective for lithium and cesium bearing minerals, it is the Varuträsk pegmatite which has exciting near term potential.

Throw in to the equation that Sweden is well positioned geographically to supply the coming uptick in lithium-ion battery demand and any commercial lithium discoveries by Hannans would be explosive in a hot lithium sector and is a stock worth watching.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

View full HNR profile

Hannans Reward Limited Timeline

Related Articles

Rolled-copper.jpg
May 31 2016
Galileo Resources has a sizeable footprint on a copper-rich region of South Africa, and is now pressing ahead towards a resource
ArgentinaHand.jpg
October 18 2016
Golden Arrow Resources Corp. on Monday announced it has initiated its first exploration program at the recently optioned Antofalla silver-gold-base metal project in the province of Catamarca. The explorer also offered a corporate update
Reindeer
October 26 2016
The gold explorer focused on the Nordic countries, has a busy exploration program lined up for 2016/17.

© Proactive Investors 2016

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