Andrew Bell of Red Rock discusses the acquisition of its first Lithium assets in Zimbabwe
Episode 648, Apr 01, 2022, 10:20 AM
Andrew Bell Chairman of Red Rock Resources #RRR discusses the acquisition of its first Lithium Assets in Zimbabwe via the establishment of a subsidiary, African Lithium Resources.
Andrew Bell Chairman of Red Rock Resources #RRR discusses the acquisition of its first Lithium Assets in Zimbabwe via the establishment of a subsidiary, African Lithium Resources.
Highlights
Ø African Lithium Resources Pvt Ltd ("ALR") has been established as a 75% owned subsidiary in Zimbabwe with a local partner.
Ø ALR has acquired 51 ha of lithium claims 29 km NW of Bikita in SE Zimbabwe at Tin Hill, and is in the process of transferring title.
Ø Spodumene and petalite lithium mineralisation identified in 10m thick exposures averaging 1.43% Li2O (Geological Survey of Rhodesia 1975).
Ø ALR has taken 7 samples in one area of the licence, with best grades received from an accredited laboratory at 2.07% Li2O, 1.082% Li2O, 0.87% Li2O, 0.62% Li2O
Ø Consideration of $25,000, has been paid, with a further $10,000 retained by ALR until completion of transfer.
Ø A new 125 ha application near Arcturus, a mining site 32km E of Harare in Zimbabwe has been approved for grant with a further application nearby in process
Ø A 107 ha application near Bikita has been made and another property with high grades from our sampling has been identified for purchase.