A8G has acquired the Atex and Alliance projects, an extremely fertile but underexplored 500km2 lithium pegmatite system that sits within the broader Birimian geological province which hosts the enormous 299.32Mt at 1.33% Li₂O Goulamina deposit. The standout assays from the flagship prospect Spodumene Hill include 67.97m at 1.23% Li₂O from 68.4m, including 27m at 2.13% Li₂O from 76m, as well as additional intercepts such as 20.77m at 1.65% Li₂O from 79.48m, including 18m at 1.85% Li₂O from 80m.
The company is led by MD Qingtao Zeng, who was the geologist and founding director of Winsome Resources (ASX: WR1), whose Adina discovery took the company above $350 million market cap and grew into a 77.9Mt at 1.15% Li₂O JORC resource before it merged with Li-FT Power (ASX: LFI). He also advised Core Lithium (ASX: CXO) in the offtaking and financing of its Finniss Lithium project, and was a non-executive director from 2017 to 2023 of Kodal Minerals (AIM: KOD), whose Bougouni mine now produces spodumene concentrate in Mali.
A8G is targeting the grade and scale that Africa is famous for, and Atex has a broader pegmatite field spanning at least 13km by 4km with several targets that have been identified with soil sampling and auger drilling, along with trenching of exposed pegmatites reaching up to 56.5m in width. The flagship prospect Spodumene Hill has diamond drill confirmed lithium mineralisation across 800m of strike, with the system remaining open along strike and at depth.
A8G is playing into an enduring thematic of China becoming increasingly dependent on lithium supply from Africa, with China controlling 77% of global lithium processing capacity but only accounting for 23% of mined supply, and the company counts Ruifu Lithium and Xinfeng Lithium among its shareholders, the exact type of groups that could act as development partners or acquirers.
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- Initiation: Geo Behind WR1 Discovery Puts Massive Lithium Project into A8G, Readies DrillingAn extremely fertile but underexplored 500km2 lithium pegmatite system that sits within the broader Birimian geological province which hosts the enormous 299.32Mt at 1.33% Li₂O Goulamina deposit has been acquired by $12.6 million market cap Australasian Metals (ASX: A8G), with the 500km2 Atex and Alliance project hosting multiple mineralised bodies, extensive soil anomalies and a… Read more: Initiation: Geo Behind WR1 Discovery Puts Massive Lithium Project into A8G, Readies Drilling