By: Creamer media

The licence PL 0238/2025 covers 775 km2 and is adjacent to the company's two existing licences, covering 837 km2.

The company says work completed by it to date has identified depths of brines across the ground, with lithium and significant grades of magnesium identified in all samples.

"Lithium is designated as a ‘critical metal’ meaning there is an imbalance between expected future supply and demand. Explorers are turning from discovering and developing hard-rock lithium to lithium brines mainly in salt pans,” says chairperson John Teeling.

He points out that technology is advancing in this area, particularly in recoveries from the brines.

“The new extraction technology for lithium also recovers the magnesium. We have a plan to drill our two existing licences, which will be revised following the award of this new licence,” he continues.