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Lithium Consolidated Mineral Exploration grabs more lithium exploration assets in Zimbabwe

The company believes the assets have “early development and production potential”.

The Nels Luck pegmatite exposed in an historical pit
The Nels Luck pegmatite exposed in an historical pit

Lithium Consolidated Mineral Exploration Ltd (ASX:LI3) has grabbed seven new lithium exploration assets in eastern Zimbabwe’s Mutare greenstone belt through a subsidiary.

The parent company said the new land tenure included historical workings and outcrops that featured spodumene and petalite-bearing pegmatites.

Lithium Consolidated reported some pegmatites were flat-lying and exposed at surface or were found close to the surface.

'Early development potential'

The company believes its Zimbabwe subsidiary’s seven new assets have “early development and production potential”.

Mutare greenstone belt pegmatites have been historically mined for beryl, tantalite, cassiterite and lithium minerals.

Some flat-lying pegmatites in the historic tantalite mining district are suited to open-pit mining, while clusters of pegmatites can indicate lithium mineralisation.

Historical workings and outcrops on the greenstone belt have featured spodumene, petalite and lepidolite mineralisation.

Similar to Western Australia's North West

Lithium Consolidated reported: “The MGB’s lithium exploration potential is analogous to that which existed in the Pilbara Craton pegmatites, in Western Australia, approximately 10 years or so ago.

“The abandoned historical workings have early, small-scale development and production potential, combined with the potential for the delineation of economic lithium deposits through systematic exploration.”

Located near infrastructure

The seven assets are about 300 kilometres from Mozambique’s Beira port and about 60 kilometres from Mutare Railhead at the Zimbabwe-Mozambique border, on the Mutare-Beira railway line.

Lithium Consolidated holds 29 prospecting licences in the greenstone belt and has applied for a further 19 prospecting licences which are currently pending.

If granted, the company’s tenure in the 48 assets would extend over 2,340 hectares.

Quick facts: Lithium Consolidated Ltd

Price: 0.017 AUD

Market: ASX
Market Cap: $2.5 m

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