- Li3 Lithium (TSXV:LILI) has increased its interest in the Mutare Lithium Project from 25 per cent to 50 per cent
- The Mutare Lithium Project is located in Zimbabwe and consists of 15 sq. km. of licences in the Mutare Greenstone Belt
- The 5,000-metre exploration drilling program is scheduled to start in the upcoming weeks
- Li3 Lithium Corp. (LILI) opened trading at $0.18 per share
Li3 Lithium (TSXV:LILI) has increased its interest in the Mutare Lithium Project from 25 per cent to 50 per cent.
The Mutare Lithium Project is located in Zimbabwe and consists of 15 sq. km. of licences retained within the Mutare Greenstone Belt. The area was deemed prospective for lithium-cesium-tantalum pegmatites based on prior target generation work.
The company has assumed operatorship of the project and has taken over management of the exploration program.
The exploration program includes surface rock-soil sampling and a geochemical survey to assist in identifying priority areas for a 5,000-metre exploration drilling program scheduled to start in the upcoming weeks.
Li3 Lithium’s CEO, François Auclair said the project has potential for large-scale lithium mineralization.
“There are numerous spodumene rich pegmatites visible at surface and the project is adjacent to the large-scale Sabi Star Lithium Mine which recently commenced production. Li3 Lithium is confident about the presence of lithium but what remains to be determined are its tonnage, grade, and mineralogy. For this reason, we have mobilized a full exploration team. An aggressive exploration program on the Mutare Project is now underway with initial results expected in the coming weeks and months.”
Zimbabwe, which is estimated to hold Africa’s largest lithium resources and the fifth largest globally, is rapidly emerging as an important player within the lithium supply chain.
Li3 Lithium Corp. is a lithium-focused exploration and project development company that recently completed an earn-in on the project by funding US$250,000 of initial exploration work – click here for more on that news.
Li3 Lithium Corp. (LILI) opened trading at $0.18 per share.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
