Mining

Alderan Resources picks up seven projects in Brazilian lithium hotbed

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By Robin Bromby - 
Alderan Resources ASX AL8 Minas Gerais lithium projects Brazil
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Alderan Resources (ASX: AL8) is joining the growing ranks of ASX lithium explorers in Brazil with the acquisition of seven projects in resource-rich Minas Gerais state.

All seven projects are within, or to the south of, an area known as “Lithium Valley”.

Alderan’s projects — Curral de Dentro, Minas Novas, Carai, Catuji, Itambacuri, Itaipe and Governador Valadares — lies on Brazil’s Eastern Lithium Belt.

Minas Gerais state is home to 40 of Brazil’s largest 100 mines and contains more than 300 operating mines overall.

The state produces 75% of the world’s niobium, 53% of Brazil’s iron ore output, and large quantities of gold, zinc and phosphate.

Right geological settings

Alderan says the projects are in the right geological settings as they are located on the margins of known and interpreted fertile G4 granites.

Pegmatites and lithium indicators such as spodumene, beryl and niobium are found within and close to project areas.

Artisanal mining has been carried out on the projects’ grounds.

The projects cover a combined 472 sq km, the seven projects consist of a total of 24 granted exploration licences.

Experienced team on site

Alderan will be assisted by the vendor of the project and will have access to what it describes as a highly experienced technical team that has generated projects by integrating geology, geophysics, mineral occurrences and structure.

The vendor is getting a share-based deal based on specific milestones.

Alderan has raised $1.75 million through a placement at $0.006 per new share to finance further exploration at the Brazilian projects.

Recent discoveries in ‘Lithium Valley’

Recent discoveries in the area containing Alderan’s acquisition have included TSX-listed Sigma Lithium with its Salinas project.

At that project the Groto do Cirilo resource stands at 77 million tonnes at 1.43% lithium oxide and Sigma is ramping up Phase 1 production to 275,000 tonnes per annum.

Latin Resources (ASX: LRS) has its own Salinas project containing 45.2Mt at 1.34% lithium.

Canada’s Lithium Ionic also has a resource estimate with expansion and drilling under way, while Nasdaq-listed Atlas Lithium has identified 20 outcropping pegmatites.