The firm holds 50 percent stake in the Mutare Lithium
Project while the balance is owned by Premier African Minerals, the proprietors
of the Zulu Lithium and Tantalum Mine, located 80km from Bulawayo.
To be called a pegmatite, the rock should be composed
almost entirely of crystals that are at least one centimetre in diameter. Pegmatite
lithium deposits, also known as hard-rock lithium deposits, can contain a
number of elements, including lithium, tin, tantalum and niobium.
According to Li3 Lithium Corp, 2349 metres of trenches
uncovered 1,2 kilometres long and up to 60 metres wide pegmatites at the Nels
Luck group of claims.
The exploration programme, which is currently focused on
the Nels Luck area situated along the Mutare Greenstone Belt (MGB) East zone,
is anticipated to assist in identifying priority targets for the upcoming 5
000-metre exploration drilling programme scheduled to start in the third
quarter of this year.
Li3 Lithium Corp has hitherto received assay results from
842 channels from the initial phase of the exploration program conducted
between June and July 2023.
The Nels Luck group of claims hosts a number of mineral
components that include lepidolite, spodumene, and tantalite, bearing
lithium-cesium tantalum pegmatites.
“The trenching
programme conducted by Li3 Lithium has confirmed wide, well-developed pegmatite
lithium mineralization at the Mutare Lithium Project, which remains open at
depth and along strike.
“Initial assay results from the first half of the 2023
trenching and surface sampling programs are promising given that the Nels Luck
area of the Mutare Lithium Project.
“A phase one diamond drilling programme, up to 5 000 metres
targeting the Nels Luck area, is scheduled to commence in the coming weeks as
we begin to define the grade, thickness, and spatial continuity of the
pegmatite trends,” said Li3 Lithium chief executive officer and President Mr
François Auclair.
Nels Luck group of claims are situated circa 15 km from
Sabi Star Lithium and Tantalum Mine.
Li3 Lithium focuses mainly on the extraction and
development of hard rock spodumene lithium assets in Zimbabwe and Argentina,
where the concern’s proprietors have significant experience from.
The Zimbabwean Government has high ambitions for its mining
industry, having projected a US$12 billion revenue from the mining sector by
2023.
As such, over the past year and a half, major Chinese
battery metals companies have committed approximately US$1,4 billion to acquire
and develop lithium projects in Zimbabwe.
The country is targeting to earn at least US$500 million
from lithium mining activities as the country moves closer to the set timeline
to attain a US$12 billion mining industry.
Zimbabwe’s revenue from lithium exports is expected to
surge as the commodity’s price continues on an upward trend amid strong global
market demand.
The Southern African nation 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. Herald
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