BELGRADE (Serbia), August 7 (SeeNews) – Australian company Jadar Lithium, formerly known as South East Asia Resources, has discovered elevated lithium, boron, and associated elements from the Rekovac project in Serbia, it said on Wednesday.
Assay results from the soil and rock sampling programme at Rakovica return 342 ppm of boron and up to 149 ppm of lithium, suggesting the basin is prospective for deposits related to the emanation of lithium - boron enriched fluids and their precipitation, Jadar Lithium said in a filing with the Australian Securities Exchange (ASX).
Regional gravity and magnetic data provided results indicating basin geometry, structure, and magnetic anomalies that may be prospective for lithium and boron mineralisation, while X-ray powder diffraction (XRD) analyses confirmed the presence of dolomite and analcime both indicative of the permissive sedimentary environment, Jadar Lithium said.
"We are very encouraged by the prospectivity of Jadar Lithium’s portfolio of projects in Serbia. The greenfield exploration work which the company undertook is paying off, with very encouraging data on the Rekovac project as well. In conjunction with the exciting results which have been generated on the Vranje-South project, the Rekovac project presents a second area which the company will be progressing to drilling stage in the near term," Luke Martino, non-executive chairman of Jadar Lithium, said in the statement.
In December 2017, Jadar Lithium agreed to acquire the entire capital of Centralist Pty Ltd which holds five Serbian lithium exploration licences - Cer, Bukulja, Rekovac, Krajkovac and Vranje-South - covering a total area of some 328 square kilometres.
Jadar Lithium said last month it detected elevated lithium and boron values during its detailed rock sampling programme at the Vranje-South project. Regional magnetic data acquisition and interpretation indicate a magnetic anomaly of a potential volcanic source of lithium and boron, Jadar Lithium said back then.