Askari samples high-priority WA lithium targets

Multi-element explorer Askari Metals has wrapped up a project-wide exploration campaign at its Yarrie lithium project in WA, 50km northeast of Marble Bar.

Viewing the project through a geological lens, the company previously revealed several significant and high-priority targets that have now all been inspected and sampled in the field.

Askari’s explorative maps show its 1711 square kilometre package has received a broad spread of sampling with multiple pegmatites mapped and sampled.

In total 129 rock and 238 stream sediment samples were collected.

The awaited sample results will give the company a greater understanding of its project’s lithium potential and will be used to guide future exploration.

Askari plans to explore its Yarrie project with several aggressive fieldwork stints as the company continues its quest for tangible results.

Geological structures and units were identified that it believes are analogues to other lithium deposits identified elsewhere in the Pilbara.

Askari Metals Vice President of Geology and Exploration, Johan Lambrechts said: “We eagerly await the results of this campaign and following which the Company plans on quickly mobilising its field crew again for further follow-up exploration programs as the Company continues its aggressive approach to its lithium portfolio.”

Whilst the project sits in a hotbed of lithium exploration and discovery, the ground within Askari’s fence lines has never seen targeted exploration for the white battery metal.

Yarrie is located less than 30km north of Global Lithium Resources’ Archer lithium project, containing 10.5 million tonnes of lithium oxide at a grade of 1.0 per cent.

Askari also shares a southern border with the fellow ASX-listed explorer Kalamazoo Resources and its Marble Bar lithium project where it recently signed a joint venture agreement with giant Chilean lithium producer, Sociedad Química y Minera.

Interestingly, the authoritative body US Geological Survey pegs Australia as the world’s leading producer of lithium in 2021, excluding US production – that reports having only one upstream lithium operation of the brine variety in Nevada.

The largest lithium producers in Chile are Albemarle and Kalamazoo’s venture partner Sociedad Química y Minera. The majority of Chile’s lithium comes from lithium brine operations whereas Australia’s production comes from hardrock deposits containing lithium-rich minerals such as spodumene.

Interestingly Geoscience Australia, reporting in 2017, said in terms of Australia’s Economic Demonstrated Resources, or EDR, Western Australia holds about 99 per cent of the lithium with the remaining meagre portion attributed to the NT.

Ninety-five per cent of our EDR occurs at five deposits within WA and importantly, two of the juggernauts, Pilgangoora and Wodgina, are located within 77km and 103km of Yarrie’s southwestern fence, respectively.

The EDR of lithium was reported to have massively increased by 1600 per cent in the 10 years preceding 2017 and whilst the stats are more than a few years old it gives a good understanding of the energy building up in the hotbed.

The International Energy Agency anticipates 145 million electric vehicles will be on the streets at the end of the decade. Similarly, Bloomberg’s New Energy Finance research arm suggests by the same time, demand for the white metal will have jumped fivefold.

With demand only appearing to soar higher, it will be interesting to see how Askari’s assays stack up to its neighbours in the hotbed.

Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au