Stocks of the Hour: Atlantic Lithium, Lake Resources, Stellar Resources

Atlantic Lithium Limited (ASX:A11) have today announced assay results from the resource and exploration drilling program at the Ewoyaa Lithium Project in Ghana, West Africa. The results from the program have returned multiple high-grade pegmatite intervals of over 1.5 per cent lithium oxide, spanning at an interval length of up to 95 metres, with the hole ending in mineralisation, which provides further confidence in future Resource to Reserve conversion. Commenting on the Company’s latest progress, Lennard Kolff, Interim Chief Executive Officer of Atlantic Lithium, said, “With the Pre-Feasibility Study now delivered, the Mining Licence application submitted, ongoing positive drilling results and with the support of our funding agreement with Piedmont Lithium, we feel the Company is ideally positioned to benefit from the unprecedented levels of lithium demand that are expected over the coming years.” Shares are trading 12.1 per cent higher at 79 cents.

Clean lithium developer Lake Resources (ASX:LKE) today provided an update on progress at the Kachi project lithium processing demonstration plant. The demonstration plant is now processing Kachi brines with final optimisation of the process now nearing completion. Lilac Solutions Executive Vice President, Bart Packer commented: “Initial operations of the demo plant have already delivered product at spec, with the demonstration plant achieving similar lithium recoveries that were achieved in the Oakland pilot plant test work in California. “Optimisation work continues on site; Lilac anticipates the first samples of Lithium Chloride will be shipped for conversion to Lithium Carbonate within two weeks." Lake CEO, David Dickson said Lake was delighted to see initial test results achieving anticipated specifications. “This validates the many years of test work that took place in Lilac’s Oakland facility during Covid whilst access to site was impossible." Shares are trading 9.4 per cent higher at $1.16.

Stellar Resources Limited (ASX:SRZ) is pleased to announce that its wholly owned subsidiary, Tarcoola Iron Pty Ltd, has recently been granted Exploration Licence over a combined area of 97 km2 in the Mt Paris and Scamander North areas of Northeast Tasmania which are prospective for Lithium and Tin. The grant of the exploration licence adds to Stellar’s tenement holding in Northeast Tasmania and hosts potential for lithium, tin and base metal mineralisation. In response, Executive Director Gary Fietz commented, “this enhances Stellar’s commodity mix in Tasmania on top of its flagship Heemskirk Tin Project, and Victorian style gold exploration targets in Northeast Tasmania.” Shares are trading 18.2 per cent higher at 1.3 cent
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