Jadar Lithium: Quarterly Activities Report For the period ending 31 March 2018
(firmenpresse) - Jadar Lithium: Quarterly Activities Report For the period ending 31 March 2018
Highlights
- Management team and board strengthened by appointment of directors with relevant experience in lithium exploration-
- Appointment of Jerry Aiken, a highly experienced geologist with decades of experience in lithium/borate exploration
- Listing of Jadar on the German Exchanges and appointment of highly experienced European Investor Relations Deutsche Gesellschaft für Wertpapieranalyse GmbH (DGWA)
- European Investor roadshow undertaken in Frankfurt, Hamburg, Berlin, Salzburg and Munich
- Completed the sale of shares for holders of Less Than Marketable Parcels (LTMP)
- Establishment of Serbian based operational/technical team and set up of in country office
- Commencement of maiden exploration activities on the Companys 100% owned Cer and Bukulja projects, which are considered prospective for pegmatite hosted lithium and associated mineralisation
- Maiden exploration program on Cer and Bukulja confirms outcropping pegmatites
- Planning and historical data collation ongoing for the Companys Rekovac, Krajkovac and Vranje-South projects
Jadar Lithium Limited (ASX: JDR) (Jadar or the Company), is pleased to provide shareholders with this Quarterly Activities Report for the three (3) months ending 31 March 2018.
EXPLORATION ACTIVITIES
Bukulja Project
During the first quarter of 2018 the Company completed preparations and commenced its maiden exploration program on the Bukulja exploration license. The project is considered highly prospective for pegmatite hosted lithium and associated mineralisation.
During its preparations for the field program the Company has reviewed a number of historical reports detailing the work conducted on the property by the Serbian state geological entities. These historical programs were focused on and established the presence of tantalum, tin and beryl mineralisation, while generally no extensive work was conducted to evaluate the potential of lithium mineralisation.
These reports and data were used to guide the field teams to areas with known pegmatite occurrences.
Field activities had to be delayed due to uncharacteristically late snowfall throughout the mountainous areas in Serbia, but once commenced the teams managed to complete the exploration program within the first quarter. During the initial field program, the Company executed the following activities:
- Conducted reconnaissance mapping throughout the permit. The Companys geologists located a number of pegmatitic outcrops. The pegmatites were sampled and sent to the laboratory for geochemical analysis. Certain samples were sent out for XRD analysis and mineralogical evaluations
- Collected 54 stream sediment samples throughout the project area
- Collected a total of 16 soil samples
- Collected a total of 10 hard rock samples from pegmatite outcrops
- Collected 2 water samples
All the samples have been dispatched to the ALS laboratory in Bor, Serbia, where sample preparation will be completed. The samples will then be dispatched to the ALS facility in Vancouver, Canada for geochemical analysis. A desktop analysis of the sedimentary basin, which is present in the southern part of the Bukulja project area, has indicted that it may be prospective for sedimented hosted hydrothermal lithium-borate mineralisation. The Company will undertake further desktop analysis and reconnaissance activities to evaluate the prospectivity of this area.
http://www.irw-press.at/prcom/images/messages/2018/43255/JDR_Quarterly Activities Report_March 2018 FINAL (2)PRcom.001.png
Figure 1- Geology of Bukulja project and sampling locations
Cer Project
Towards the end of the third quarter of 2017/2018 the Company completed preparations and commenced with the exploration program on the Cer project, which is considered highly prospective for pegmatite hosted lithium and associated mineralisation.
During its preparations for the field program, the Company has compiled a number of historical reports detailing the work conducted on the property by the Serbian state geological entities. These historical programs were focused on and established the presence of tantalum, tin and beryl mineralisation. Previous government work did not investigate the potential for Lithium mineralisation on the permit.
These reports and data assisted the Companys geologists to locate the historically defined pegmatite dikes. No samples were collected during the first quarter of the year, but reconnaissance mapping has located numerous pegmatite dikes, some of which are estimated to exceed 10m in width. Due to vegetation and overburden, further work will be required to define the exact strike and widths of the various pegmatite dikes. The sampling program will be completed in the second quarter.
Rekovac Project
The Company has commenced with preparations on the Rekovac project, which included evaluation of available historical material and literature and desktop evaluation of access throughout the permit to assist in planning the forthcoming field program.
The Company did not undertake any field activities on the Rekovac project throughout the third quarter of 2017/2018 and the field program is scheduled to commence in the fourth quarter.
Krajkovac Project
The Company has commenced with preparations on the Krajkovac project, which included evaluation of available historical material and literature and desktop evaluation of access throughout the permit to assist in planning the forthcoming field program.
The Company did not undertake any field activities on the Krajkovac project throughout the third quarter of 2017/2018 and the field program is scheduled to commence in the fourth quarter.
Vranje-South
The Company has commenced with preparations on the Vranje-South project, which included evaluation of available historical material and literature and desktop evaluation of access throughout the permit to assist in planning the forthcoming field program.
The Company did not undertake any field activities on the Vranje-South project throughout the third quarter of 2017/2018 and the field program is scheduled to commence in the fourth quarter.
CORPORATE MATTERS
During the quarter the Company strengthened its Board with the appointment of Mr Martin Pawlitchek, who has experience in exploration and resource drilling with exposure to underground and open pit mines and Mr Michael Davy, an experienced executive. Mr Jerry Aiken was appointed Technical Advisor. Mr Aiken has over 46 years of experience in the minerals industry in various positions, including roles within the Exploration Departments of ASARCO and 30 years for Rio Tinto Borax Exploration. Mr Stefan Müller, through his company DGWA was appointed European Investor Relations consultant, specifically engaging with European investors. During the quarter the Company participated in a European road-show to high net worth individuals and institutional investors, as well as attendance at the Mines and Money Conference in Hong Kong.
The Company completed its Less Than Marketable parcel buy-back during the quarter. A total of 1,239 shareholders, with an aggregate of 1,684,719 shares participated in the program, reducing the number of shareholders in the Company to 1,030 as at 28 February 2018.
The Company reviewed further complementary and value-adding opportunities during the quarter, particularly in relation to battery metals. These opportunities continue to be assessed.
The Groups cash balance as 31 March 2018 was $3.8million.
SCHEDULE OF TENEMENTS
Project TenementLocation Interest
ID
Cer 2223 Serbia 100%
Bukulja 2226 Serbia 100%
Rekovac 2224 Serbia 100%
Krajkovac 2209 Serbia 100%
Vranje-Sout2225 Serbia 100%
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Jadar Lithium
311-313 Hay Street Subiaco,
Western Australia 6008
T:+61 (0) 8 6489 0600
F: +61 (0) 8 9388 3701
www.jadarlithium.com.au
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Datum: 02.05.2018 - 09:17 Uhr
Sprache: Deutsch
News-ID 575114
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