Multi-element junior explorer Askari Metals has completed an expansive airborne reconnaissance site visit across its Yarrie lithium project in an escalation of its hunt for the highly sought-after white gold that sits at the heart of the EV minerals revolution.
Located in Western Australia’s Eastern Pilbara, the project spans more than 1,700 square kilometres with the reconnaissance mission performed via helicopter and assisted by on-ground inspections and sampling. Intriguingly, the tenement is surrounded by some of the most significant hard rock lithium deposits in the world.
The company says whilst the project is large and has been the subject of historic exploration, the target commodity has notably never before been lithium. Askari believes the lack of previous attention paid to the potential presence of lithium across a vast swathe of The Pilbara presents a compelling case for further exploration.
With the completion of the aerial work, management is now planning the next stage of its exploration strategy at the Yarrie project. Targets generated from the previous hyperspectral work will be Askari’s initial focus after which it will home in on potential hot spots.
The junior says it is generating lithium targets based on all available historical reports of the area and despite the lack of past lithium exploration, all geological data for associated minerals may be useful in its hunt for the white metal.
In addition, Askari plans to build a geological interpretation of the area that will help define target areas for future fieldwork.
Askari Metals Vice President of Exploration and Geology, Johan Lambrechts said: “The purpose of the reconnaissance visit at our Yarrie Lithium Project was to investigate the type of Granitic exposures and to ascertain the age and mineralogy of both the granites and pegmatites. This will assist in determining the geochronology of the area, which will drive the next stage of exploration. We also identified important structural controls, which will be important in future phases of exploration.”
Askari’s tenement sits amongst some of the world’s largest lithium deposits including Pilbara Minerals’ Pilgangoora ore body and Mineral Resources’ Marble Bar deposit in the heart of the highly prospective Pilbara region of Western Australia.
Bordering to the southwest is battery metals explorer and ASX-listed Kalamazoo Resources instep with its joint venture partner Chilean-based SQM Lithium – one of the world’s largest producers of lithium hydroxide and carbonate.
Adding further lustre to the lithium-rich potential of the region, Global Lithium Resources’ 10.5 million tonne Archer deposit is just 30 kilometres to the south.
As the world dives headfirst into the electrification of global commodity markets, battery manufacturers are crawling over themselves to secure long-term contracts amid mineral scarcity. Consequently, more manufacturers are turning to the lithium spot market driving prices for the battery-grade metal in China skyward, by more than 65 per cent just last month and almost 600 per cent in the past year.
Interestingly, Benchmark Mineral Intelligence forecasts a potential supply shortfall of 26,000 tonnes in 2022 that could grow to 300,000 tonnes by 2030 as miners struggle to keep up with demand.
With industries around the globe marching in lockstep towards “net-zero”, Askari will no doubt be itching to strike its lithium portfolio while the battery metal is hot. Watch this space.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
