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PepinNini Minerals Ltd adds lithium to bulging mineral portfolio

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PepinNini Minerals Ltd (ASX:PNN) has added lithium mining lease applications in Argentina to an existing portfolio brimful of diamond, gold and base metals exploration targets in Western Australia and Queensland.

The eight mining lease applications cover areas prospective for lithium brines over 152km2 in Salta Province in Argentina.

All of these are in known areas of historic lithium occurrences with aquifers of varying depths and brine concentrations.

It is worth noting that the capital costs for lithium brines are lower than hard rock lithium exploration.

The exploration target area has existing infrastructure in place and Salta Province is considered a mining friendly province in Argentina.

PepinNini has been operating in Argentina since 2009 and has two other projects, Santa Ines and Chivinar in the Salta province.

These projects are prospective for copper and gold comprising six granted mining leases and two mining lease applications.

The company is also advancing its portfolio of projects in Australia.

Reconnaissance mapping and sampling was undertaken at the Oasis Exploration Permit in North Queensland during the March 2016 quarter, where historic drilling had a hit of 8 metres at 6.8g/t gold.

There is diamonds, base metals and gold potential at the Western Amadeus Basin – Mozart Diamond Project in Western Australia.

Additionally, PepinNini and Rio Tinto Exploration Pty Ltd are finalising a 70:30 JV which will include tenements held by both partners at the Musgrave Province of South Australia and Western Australia. This is prospective for  copper, nickel and Platinum Group Elements (PGEs)

In April 2016, PepinNini had raised $358,787 from a non-renounceable entitlement issue of shares at $0.007 each.

 

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Quick facts: PepinNini Lithium Ltd

Price: 0.002 AUD

ASX:PNN
Market: ASX
Market Cap: $3 m
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