Source: Li3 Lithium Corp.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Li3 Resources, 50 per cent owned by Li3 Lithium (LILI), has earned a 50 per cent interest in the Mutare Lithium Project in Zimbabwe
  • Exploration drilling on the Mutare Lithium Project is scheduled to commence in the 1st quarter of 2023
  • The Mutare Lithium Project consists of 1,500 hectares of licences retained within the Mutare Greenstone Belt
  • Li3 Lithium Corp is a lithium-focused exploration and project development company that recently acquired a 50 per cent interest in Li3 Resources Inc.
  • Li3 Lithium Corp. (LILI) opened trading at C$0.10

Li3 Resources, 50 per cent owned by Li3 Lithium (LILI), earned a 50 per cent interest in the Mutare Lithium Project.

Li3 Resources had until December 31, 2022, to complete the spend to acquire the 50 per cent interest in the Mutare Lithium Project in Zimbabwe. The exploration program completed included surface rock-soil sampling and a geochemical survey to assist in identifying priority areas for a 5,000-metre exploration drilling program.

Exploration drilling on the Mutare Lithium Project is scheduled to commence in the 1st quarter of 2023 toward completing an initial mineral resource estimate as defined in National Instrument 43-101 Respecting Standards of Disclosure for Mineral Projects (NI 43-101).

The Mutare Lithium Project consists of 1,500 hectares of licences retained within the Mutare Greenstone Belt. The area was deemed prospective for lithium-cesium-tantalum pegmatites based on prior target generation work. 

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 acquired a 50 per cent interest in Li3 Resources Inc. Li3’s goal is to acquire an attractive portfolio of highly prospective lithium exploration projects.

Li3 Lithium Corp. (LILI) opened trading at C$0.10.


More From The Market Herald

" From corporate launch to upcoming initial resource estimate, here’s one of 2022’s top lithium performers

Lithium Ionic Corp. has been hailed as the multi-billion-dollar blueprint next door by analysts.

" Successful gold explorer makes NEW polymetallic discovery

Northstar Gold has been making headlines over the past couple of years advancing its high-grade flagship Miller Gold Property.

" @ the Bell: Growth-sensitive stocks fluctuate on mega jobs report

Canada’s main stock index ended on the higher side of flat on Friday trading as strength in the energy and technology sectors was weighed against

" Aimia (TSX:AIM) sells $7.36M in shares to Mithaq Capital

Aimia (AIM) has sold approximately $7.36 million of its common shares to investor company Mithaq Capital SPC.