Lithium Australia s JV partner Galan Lithium completes initial sampling at Greenbushes South Project
Mapping indicates the major geological structure hosting the world-class Greenbushes LCT pegmatite continues along strike from the Greenbushes deposit into the JV s project area. Plans for further soil and rock chip sampling are underway.
Lithium Australia NL (ASX:LIT) (OTCMKTS:LMMFF) (FRA:3MW) and joint venture partner Galan Lithium Ltd (ASX:GLN) (FRA:9CH) have completed initial exploration sampling and mapping work at the Greenbushes South Lithium Project in Western Australia.
A review of historical data sets indicated a well-defined footprint of anomalous concentrations of pathfinder elements surrounding the Greenbushes mine and along its host structure.
Lithium producers in favour as electric vehicle sales surge
Sales of electric vehicles rose 41% in 2020, despite global car sales falling 6% during the global pandemic, and that has led to a looming lithium supply crunch. Eighteen of the world’s top 20 vehicle makers have announced plans to rapidly scale production of EVs.
Resources companies with lithium production capabilities are increasingly coming into favour, as a supply crunch for the battery metal looms amid surging electric vehicle (EV) sales.
The latest report by the International Energy Agency (IEA) revealed there were 10 million EVs on the world’s roads by the end of 2020, with EV registrations rising by 41% - despite global car sales falling by 6%.