FINFEED | ONLINE | | by Geoff Tait
As the global lithium arms race continues, Australian resources companies are keen to stay ahead of developments. As a commodity, lithium is on-track to carve out its own distinct market niche fuelled by lithium-ion batteries; therefore, the chase for ample high-grade lithium resources has begun in earnest.
Keen on synchronising its own development with that of the broader lithium market is Lithium Australia (ASX:LIT).
Just this week, LIT has announced a maiden lithium Mineral Resource estimate for its recently-acquired Sadisdorf project in Saxony, Germany.
LIT’s maiden estimate was conducted by CSA Global, who’ve estimated an Inferred Mineral Resource of 25 million tonnes grading 0.45% Li2O, based on re-analysis and re-interpretation of historical drilling and underground sampling at Sadisdorf.
The formal Resource statement substantially enhances LIT’s chances of progressing the Sadisdorf tin-tungsten mine to a polymetallic deposit with value contributions from lithium, tin and tungsten, as well as from a range of potassium by-products.
With the implementation of LIT’s patented SiLeach process, LIT is able to source additional quantities of potassium sulphate fertiliser and sodium silicate from the same ore which is expected to supplement LIT’s revenues and smooth out the path to economic viability at Sadisdorf.
