Sign up Australia
Proactive Investors - Run By Investors For Investors

Lithium Australia granted licence in lithium tungsten region of Germany

Drilling is also underway at the Sadisdorf Lithium Project in Germany.
Stamp granted isolated on white
The aim is to establish a processing hub in Europe to support battery production

Lithium Australia NL (ASX:LIT) (FRA:3MW) has been granted a 133 square kilometre exploration licence in Saxony, Germany. 

The prospective exploration ground is located in a region where lithium mineralisation is often associated with tin and tungsten mineralisation.

Notable deposits featuring the minerals in the region include Cinovec, Zinnwald and Sadisdorf.

At Sadisdorf, Lithium Australia is farming into an historic tin mine with a pervasive lithium greisen halo.

Can earn up to 50% of Sadisdorf

Lithium Australia can earn up to 50% from Tin International AG of the Sadisdorf Lithium Project in Germany.

The company plans to use its 100%-owned SiLeach® process to recover lithium from Sadisdorf.

The project may have sufficient resources to sustain 10 years of lithium carbonate production at a rate of 25,000 tonnes per annum.

Central European lithium processing hub

The objective is to establish a central processing hub in Europe to support battery production for the rapidly expanding electric vehicle industry.

Sadisdorf already has the potential to supply lithium to the German auto industry and the company is also looking to areas never before explored systematically.

In this regard, central Europe offers many opportunities.

Drilling underway at Sadisdorf

Drilling at Sadisdorf has now resumed, with initial results expected in February of this year.

The drilling program is scheduled for completion at the end of March, with final results expected in May 2018.

Drilling follows a maiden resource estimate

Adrian Griffin, managing director, said: “The drill program at Sadisdorf – which follows its maiden mineral resource estimate of 25 million tonnes at 0.45% lithium oxide – aims to confirm historical data, as well as provide additional data to expand the known resource.

“We are looking forward to receiving the first results in support of that historical data and to confirm our interpretation of mineralisation and geology at that project.

“We are also pleased to announce the acquisition of another land package in Saxony that has, since 2015, been known to host lithium minerals.

“We feel that this relatively recent identification, and the acquisition itself, further strengthen Lithium Australia's position in central Europe and support its aspiration to become a prime supplier to Europe's burgeoning battery industry.”

View full LIT profile View Profile

Lithium Australia NL Timeline

Related Articles

1528370432_cobalt-on-periodic-table.jpg
June 07 2018
Primary Cobalt Corp is a project generator in growth mode
Picture of pilot plant
April 05 2018
An impressive pre-feasibility study features a pre-tax valuation of $227 million for start-up capital expenditure of $65 million.
1538040715_DJI_0816_resized.jpg
September 27 2018
Rainbow's Gakara project is one of the highest grade rare earths operations in the world

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