Lithium Universe (ASX: LU7) is headed by industry trail blazer, Iggy Tan. The team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.
Instead of exploring for the sake of exploration, LU7’s mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects. The following are further details of the Lithium and REE projects held by Lithium Universe Limited.
Apollo Lithium Project
Commanding a land position spanning over 240 km2, Apollo is located in the same greenstone belt and only 29 kilometers south-east of the Corvette Lithium Project owned by Patriot Battery Metals (market cap of over A$1 billion). Patriot’s most successful drill result was a remarkable 156 meters at 2.12% Li2O at CV5. Similarly, 28 kilometers to the east, Winsome Resources Limited (market capitalization of over A$300 million) recently announced drilling hits of 107 meters at 1.34% Li2O from 2.3 meters (AD-22-005) at their Adina Project. Apollo has 17 pegmatite outcrops reported on the tenement package. Given the exceptional results from these neighbouring projects, the Apollo Lithium Project has the potential to be equally successful.
Adina South & Adina West Lithium Project
The Adina Projects are situated in close proximity to the Adina discovery, which is owned by Winsome Resources and valued at $327m in the market. The Jamar Project has produced a visual pegmatite intersection of over 160m in drills, lying beneath outcropping 4.89% Li2O. Recently, Winsome Resources reported successful drilling results, with AD-22-005 yielding 107m at 1.34% Li2O from 2.3m at their Adina Project. The Adina South & Adina West Lithium Project boasts one of the largest prospective land holdings near Winsome Resources Limited. Aerial satellite images have revealed similar pegmatite occurrences at the surface.
Margot Lake Lithium Project
The Margot Lake Project is located in northwestern Ontario, in the premium lithium mineral district of Ontario’s Great Lakes region. The project is situated 16km southeast of Frontier Lithium’s (TSX-V: FL) PAK Deposit, which contains 9.3Mt at 2.0% Li2O, and 18km away from Frontier’s Spark Deposit, which contains 32.5Mt at 1.4% Li2O. The tenement contains nine confirmed and mapped pegmatites, and is located in a highly competitive district due to recent major discoveries of lithium. Frontier Lithium, with a market capitalization in excess of A$500 million, is a significant player in the region.
Lefroy Lithium Project
The Lefroy Project is in the mineral-rich Goldfields region of Western Australia. This strategically located project is in close proximity to the Bald Hill Lithium Mine, which has a top-quality spodumene concentrate with low levels of mica and iron, as well as significant tantalum by-product production. The Bald Hill mine has a resource of 26.5 million tonnes at 1.00% Li2O. The Lefroy project is also located near the Mt. Marion Lithium Mine, which is owned by Mineral Resources and has a market capitalization of 17 b. Mt. Marion produces 900,000 tonnes of mixed-grade spodumene concentrate annually and is approximately 60 kilometers from the Lefroy project.
Voyager Rare Earth Project
The Voyager projects are positioned between ABx Group tenures, where clay-hosted rare earth elements (REE) and niobium have been discovered. These deposits are analogous with Ionic Adsorption Clay (IAC) deposits that have produced REE in southern China using simple leaching. Abx stated that early testwork indications show their rare earth elements are easily leached and could be concentrated at low cost, with no deleterious elements. Geological mapping of Voyager’s tenures indicates the presence of various areas of clay and bauxite, which is the ideal geological environment for the occurrence of rare earth elements.