Australian gold explorer Adelong Gold has been granted two of the three applications for lithium exploration permits in Lithium Valley, Minas Gerais, by the Brazilian National Mining Agency (ANM).
These two exploration permits, specifically 832.015/2023 and 832.016/2023, cover 1,930ha and 1,368ha of land, respectively.
The company is also confident of securing a permit for the third application, 832.014.2023, and says the move is “imminent”.
These permits are part of the Santa Rita Do Aracuai project.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
Overall, the project area applied for is 53.17km² and is reputed to show strong potential to host lithium-bearing pegmatites.
Adelong announced the deal in September 2023.
The permits cover the Ribeirão da Folha formation, which is part of the Neoproterozoic Araçuaí orogeny. The project is largely unexplored for lithium.
Associated with G4 S-type granites, the pegmatite deposits are said to have been intruded during a collisional episode associated with the Gondwana Supercontinent’s Trans-Amazonian event.
Some of the major discoveries in the region include Sigma Lithium’s Grota do Cirio deposit, Latin Resources’ Salinas project and Lithium Ionic’s Itinga project.
Adelong managing director Peter Mitchell said: “The company is pleased that two of the three Brazilian lithium licence applications recently acquired have now been granted and that the third application appears imminent. Granting of the licences was a condition precedent for the acquisition to proceed and the company is pleased that it is on track to complete.
“The acquisition is part of the company’s strategy to diversify its project base and to actively participate in the massive battery metals space. Brazil is emerging as a major global lithium-producing region and the company is delighted to secure an opportunity to participate in the future of the world-class Lithium Valley.”
Adelong is currently finalising an initial exploration programme, which is expected to begin after meeting the final conditions precedent to the acquisition. This includes the granting of tenements, shareholder approval, and issuance of shares and options to the vendor.
