Lithium explorer AVZ Minerals (ASX: AVZ) has revealed initial characterisation results from its Roche Dure prospect, part of the Manono lithium project, support potential for a “high value ore”.
The characterisation program returned high concentrations of lithium oxide and the presence of tin. Characterisation work also identified the lithium is mostly in spodumene form within the Roche Dure pegmatite.
According to AVZ Minerals executive chairman Klaus Eckhof, the characterisation results show a simple mineral composition, making it a possible battery grade product with low level waste, which can reduce processing costs.
“These initial mineral characterisation results are confined to the Roche Dure pegmatite where a recently drill defined 1,800 metres of strike length will be pattern drilled in the near future,” Mr Eckhof said.
The lithium grade distribution in the results also indicates the prospect is homogenous, which may enable wider space exploration drilling to define a mineral resource and potentially reduce exploration time.
Previously announced drill results uncovered up to 4.63% lithium oxide and 9110 parts per million tin. In 70% of the samples analysed, the lithium oxide ranged between 0.86% and 2.45%, while tin graded between 383 parts per million and 1490 parts per million.
Of the gangue elements, low levels of iron oxide and phosphorus oxide were identified, which are considered to be within the industry’s accepted range.
Based in the Democratic Republic of Congo, AVZ Minerals’ 60%-owned Manono lithium project, encompasses 188 square kilometres of exploration tenements and the Roche Dure pegmatite. Other pegmatite prospects within the project include Mpete, Tempete and Cerriere De L’Est where similar lithium oxide and tin grades have been identified.
AVZ Minerals claims, Manono could be the world’s largest known hard rock lithium resource.
The project was mined for its tin between 1919 and 1982.
AVZ Minerals’ stock leaped more than 12% in early morning trade, with the company’s stock sky-rocketing more than 500% since the end of June when the company published an independent technical report confirming Manono’s “world class potential” as a lithium project.