Perth based explorer Lepidico (ASX:LPD) has acquired access to a belt of lepidolite pegmatites through an option agreement with Venus Metals Corporation Limited (ASX:VMC). Under the option agreement, Venus receives $50 000 cash and 3,619, 254 Lepidico fully paid ordinary shares in return for a year long option to explore the tenement.
The licenced area is E57/983 located in the Murchison District in Western Australia, a region well known for lepidolite-bearing pegmatites in which lepidolite is is often the primary lithium mineral species. There is a lot of hope for E57/983 as Metals Australia (ASX:MLS) reported drill results of 8m @ 1.06% Li2O and 7m @ Li2O in separate tests conducted immediately north of E57/983.
Lepidico will begin exploration immediately in an effort to maximise the current field season. The Lepidolite belt has been identified as an opportunity to store lithium mica as part of Lepidico’s L-max technology.
The L-max process involves direct atmospheric leaching of lithium mica and impurity removal with subsequent lithium carbonate precipitation. This process is a more simplified and energy efficient process than current lithium recovery methods and has been extensively tested in a pilot plant environment. If successful in full scale trials, the technology demonstrates a viable solution for producing battery grade lithium carbonate and could make Lepidico a major player in the lithium market.
References: ASX Announcements 26 July 18 – Youanmi Lepidolite Option Agreement
Lepidico gains access to West Australian #Lithium
Perth based explorer #Lepidico (ASX:LPD) has acquired access to a belt of #lepidolite pegmatites through an option agreement with #VenusMetals Corporation Limited
— Lithium WA (@LithiumWa) July 30, 2018