Deutsche Rohstoff AG: Expansion of the portfolio of lithium projects in Australia
14.11.2023 | DGAP
- Successful development of the Joint Venture with SensOre Pty, Australia
- Four further licenses in Australia for early-stage exploration
- Exploration success: Up to 1.25% lithium oxide in pegmatites
Deutsche Rohstoff AG (WKN A0XYG7/ISIN DE000A0XYG76), together with its Australian partner SensOre (ASX: S3N) and the joint subsidiary Exploration Ventures AI Pty Ltd ("EXAI"), has secured four additional licenses in the state of Western Australia. The portfolio now comprises a total of seven projects. SensOre and Deutsche Rohstoff AG founded the joint venture on a 30:70 basis in the beginning of 2023.
Jan-Philipp Weitz, CEO, said: "We want to use SensOre's technology to acquire exploration targets with potential for mineable deposits. We are focusing on projects at a very early stage that can be tested with low capital expenditure. Our work in the lithium sector represents a part of our business that can benefit from the rapid development in the field of electrification and the associated demand for lithium. We are looking to leverage our longstanding expertise, technological advances in exploration and capital strength to succeed."
Initial field work was carried out on the licenses during the course of the year and a comprehensive database is currently being compiled for all projects with our own mapping as well as rock and soil samples. Further exploration work will be decided based on these results.
At the newly acquired Abbots North Project approximately 25 km north of Meekatharra, several pegmatites up to 350 m long and 15 m thick have already been mapped and sampled over a corridor at least 1.5 km long. Pegmatites are generally the most important host rocks for lithium extracted in mining. Rock samples from Abbots North have contents of up to 1.25 % Li2O. The pegmatites are located within a greenstone belt in which several other pegmatites have already been identified. Further work will now investigate the extent and lithium content of these pegmatites in more detail.
Based on these very promising early results, an initial drilling program to test the longitudinal and depth extent of the mapped pegmatites is planned for the coming year. Following successful exploration, further financing could be obtained from the Australian capital market.
Mannheim,14 November 2023
Contact
Deutsche Rohstoff AG
Phone +49 621 490 817 0
info@rohstoff.de