The Directors believe that these licences, which cover a small area, represent a low-cost entry into one of the largest lithium producing countries in the world
Arkle Resources secures three licences in Zimbabwe with potential for lithium. (Credit: deplacent/Freeimages)
Arkle (AIM:ARK) has been granted three licences covering 163 hectres to prospect for Lithium in the Insiza District of the Matabeleland South Province of Zimbabwe. The Directors believe that these licences, which cover a small area, represent a low-cost entry into one of the largest lithium producing countries in the world.
Arkle staff identified the free ground, pegged it and applied for licences. The ground saw limited mining of lepidolite in the late 1960s. Lepidolite is a lithium bearing mineral associated with spodumene.
John Teeling, Chairman commented: “This is a toe in the water exercise by Arkle. The directors have long experience in Zimbabwe and are aware of the extensive history and potential for hard rock lithium in the country. The lithium is contained in spodumene / pegmatites. It is only recently that rising lithium prices and the potential of a massive supply gap to meet battery demand have made extraction of hard rock lithium viable.
“The Arkle approach is to make a low-cost entry into both Zimbabwe and Lithium. We have examined what ground was available and been granted three licences, one of which was a small lepidolite producer – a lithium associated mineral. We continue to examine additional opportunities in battery metals.”
Source: Company Press Release