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Adelaide Resources Ltd to test salt lakes in South Australia for lithium

Adelaide Resources Ltd to test salt lakes in South Australia for lithium

Adelaide Resources (ASX:ADN) has secured exploration tenure over a potential lithium brine play in South Australia to complement the application made earlier in 2016 for a hard rock lithium opportunity at the Davenport Ranges in the Northern Territory.

Adelaide’s exploration licence application at Lake Gilles covers an area of 232 square kilometres on the Eyre Peninsula in South Australia, which has been identified by Geoscience Australia as having potential for lithium brines.

The company already holds a granted exploration title over a part of Lake Acraman, a second Eyre Peninsula salt lake that may also have lithium brine potential.

Adelaide has planned a preliminary program aimed at sampling and analysing the brine and lake sediments at Lake Acraman.

Worldwide, lithium is extracted from two principal sources - hard rock deposits and lithium brines associated with salt lakes.

Adelaide’s applications at the Davenport Ranges in the Northern Territory has potential hard rock lithium occurrences.

The company is planning a field trip to the Davenport Ranges in early May to sample two historical tantalum-niobium-tungsten-tin prospects to determine if hard-rock lithium mineralization is present.

Adelaide Resources’ lithium exploration programme is complementary to the company’s ongoing gold exploration programs in the Drummond Basin, Queensland and on the Eyre Peninsula.

Adelaide’s share price has doubled since February 2016.


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